OGQ: Bally's Interactive North America leads revenue growth in Q4 2023
Online Gambling Quarterly analyzes revenue growth benchmarks of the last quarter of 2023
The Online Gambling Quarterly (OGQ) regularly provides various in-depth analyses of key financial figures of igaming companies. In Q4 2023, Bally’s Interactive North America led revenue year-on-year (YOY) growth (compared to the previous year) with an increase of +90%; the average YOY growth in the quarter of all online gambling companies analyzed was +15%. Regarding quarter-on-quarter (QOQ) growth (compared to Q3 2023), best practice growth was achieved by Flutter US at +71%.
Total revenue growth analyses (YOY)
OGQ analyses the total revenue figure across all segments and the revenue development for each vertical. Below are the key results for Q4 2023 – for more data, click here:
- On average – on average, total revenues (all verticals) grew in Q4 2023 by +15% (YOY).
- Best practice growth – best practice growth (YOY) was achieved by Bally’s Interactive North America with +90%. Bally’s Interactive North America includes the B2C online casino operations. The gaming revenue increased from $13.7m in Q4 2022 to $26.0m in Q4 2023. Launches in Q4 2023 included Indiana, New York, and Iowa. In Rhode Island, Bally’s is the only gaming operator and platform in the state.
- Lowest/negative growth – at the bottom of the ranking we find Catena Media and Bet-at-home.
Total revenue growth analyses (QOQ)
In many cases the YOY growth rates are exceptionally high due to acquisitions made in a previous quarter – an effect that carries through for consecutive quarters after the acquisition. Therefore, several leading companies in the YOY growth benchmarking have those top positions more or less due to acquisitions made within the 12 months before the analysis.
OGQ therefore decided to also analyze quarter-on-quarter growth (QOQ) benchmarks as well. Those growth rates might be impacted by seasonal effects (eg football season versus no football season) and other changes, but these figures can provide a quick, current overview of the most recent growth dynamics while excluding the effects of acquisitions in previous quarters. For more data, click here.
- Average growth – on average, revenues increased in Q4 2023 (compared to the previous quarter) by +13% (QoQ).
- Best practice growth – best practice growth (QOQ) was achieved by Flutter US at +71%. Revenue growth for Q4 was partially offset by a sportsbook net revenue margin decline of 150bps to 7%. The Q4 gross revenue was impacted by customer-friendly sports results, which were primarily mitigated by expected gross revenue margin being better than anticipated.
Betting revenue growth analyses (YOY)
OGQ also analyzed the development of the betting revenues (mostly net revenues) in the recent quarter with the following insights – for more data, click here:
- Average growth – on average, betting revenues decreased in Q4/2023 (compared to a year previous) by -0.4% (YOY).
- Best practice – best practice growth (YOY) was achieved by Caesars Digital with +31% and Flutter US with +21%.
- Lowest/negative growth – at the bottom of the ranking we find Bet-at-home and Super Group.
For more financial analyses, including casino revenue growth, full report can be found here.