Key Moments:
- Betty Canada reported CAD 82.4 million in net revenue for the quarter ended September 30, marking a 39% increase from the previous quarter.
- The company delivered its first EBITDA-positive results in Ontario, with CAD 1.4 million EBITDA for July and August, and CAD 2.1 million total profit for the quarter.
- Active real-money users surpassed 99,000, as user acquisition costs dropped from CAD 63 to CAD 44 per player.
Quarterly Performance Drives Profitability
Betty Canada, the online casino platform with a strong focus on Ontario, has delivered a standout performance in the three months ending September 30. For the first time since launch, the company achieved EBITDA-positive results in Ontario’s regulated iGaming space. With net revenue totaling approximately CAD 82.4 million this quarter—reflecting a 39% increase from the prior period—the company demonstrated significant momentum in both profitability and top-line growth. For July and August specifically, EBITDA hit CAD 1.4 million, while quarterly profit reached CAD 2.1 million. Betty Canada also reported an annualized net revenue run rate of CAD 334 million, a 30% increase quarter-over-quarter.
Rapid User Growth and Efficient Acquisition
The company experienced a sizable uptick in its active player base, with real-money users increasing 37% to over 99,000 during the quarter. This surge was largely attributed to robust marketing activities and widespread referral engagement. Betty Canada initially directed its marketing efforts toward women, but now has an audience almost evenly split between men and women, alongside a trend toward a younger demographic.
Customer acquisition efficiency remains a highlight: the cost to bring on a new player—including advertising, ID verification, and sign-up incentives—fell sharply from CAD 63 to CAD 44 per user. Average revenue per active player was reported at CAD 308, indicating improved monetization and greater value extraction from the user base.
Mobile Expansion and Product Enhancements
Betty Canada’s rollout of its mobile offerings played a significant role in this quarter’s success. Following the launch of a native iOS app in April, the platform added its Android application during the reported period. Company executives pointed to mobile as a crucial driver for diversifying acquisition channels and decreasing dependency on Google as a primary source of new customers. Planned improvements to the platform—including push notifications and an enhanced loyalty program—aim to boost user retention and drive higher lifetime value.
Marketing Strategies and Brand Partnerships
The company’s marketing strategy was highlighted by a notable sponsorship with Maple Leaf Sports and Entertainment, providing exposure through premier organizations such as the Toronto Maple Leafs and Toronto Raptors. Leadership attributed not only increased brand recognition but also higher engagement rates to these efforts. Enhanced social and digital campaigns further helped Betty Canada distinguish itself in a competitive landscape and reach broader audiences.
Market Standing and Future Plans
Based on indicators such as market share, audience growth, and active user counts, company leadership currently believes the platform stands among the top five online casinos in Ontario. Betty Canada has set its sights beyond its home province, with plans to enter Alberta’s market should regulatory conditions permit.
Leadership Perspective and Forward Outlook
CEO Justin Park and Chavdar Dimitrov described this quarter as a milestone, crediting the company’s strong user experience, app innovation, and unique brand presence as essential to recent gains. Dimitrov expressed an ambition to further accelerate expansion, acquire and retain additional users, and pursue strategic partnerships that match Betty Canada’s vision.
Looking ahead, the company is positioning to build on its first EBITDA-positive quarter by leveraging technology, deepening brand investment, and refining its operations as it aims to maintain growth through 2026 and beyond. Leadership expressed optimism that this strategy will propel Betty Canada toward the top position in Ontario’s iGaming sector and fuel national expansion.
Financial and Operational Metrics
| Metric | Reported Value | Quarter-over-Quarter Change |
|---|---|---|
| Net Revenue | CAD 82.4 million | +39% |
| EBITDA (July & August) | CAD 1.4 million | – |
| Total Profit (Quarter) | CAD 2.1 million | – |
| Annualized Net Revenue Run Rate | CAD 334 million | +30% |
| Active Real-Money Users | 99,000+ | +37% |
| Cost per New Player | CAD 44 | From CAD 63 |
| Average Revenue per Active User | CAD 308 | – |
- Author
Daniel Williams
