Part 1: Results from the first quarter
Chart 3: XL Media share price – one year to end of June 2019
1 day
5 days
1 month
6 months
YTD
1 year
5 years
Max
120
63.50 GBX 28 Jun 2019
100
80
60
40
September 2018
January 2019
May 2019
Source: Nasdaq First North via Google Finance
Chart 4: Better Collective share price performance, first half 2019
1 day
5 days
1 month
6 months
YTD
1 year
5 years
Max
90
80
70
60
80.50 SEK 28 Jun 2019
50
September 2018
January 2019
May 2019
Source: Nasdaq First North via Google Finance
regulated operators. The hygiene factor does a sop to potentially nervous investors in Sweden,
have a place when it comes to transparency where most of the entities are listed.
and predictable rules.
But whether they are “less risky” and “better
In the case of Better Collective, there is also
a further twist to this. The company’s largest
structured for growth” is more open to debate. client – at an estimated 25% of total revenues –
Certainly, in Sweden as it stands this has not yet is bet365, which, as is well-known, is a privately
proven to be true, though of course it remains owned entity that plays on both sides of the
early days. regulated/unregulated border.
But these are arguments for operators,
Indeed, arguably a more worrying stat for
not necessarily affiliates. There is an idea that investors is the heavy reliance on one major
operators would prefer to work with affiliates customer. The analysts at Redeye attempted to
similarly committed to the regulated space and dismiss the inherent risk due to the “sheer size
therefore the latter should consider following and diversity of bet365’s operations”. However, it
down the same pathway. But in truth it is hard to is far from clear how either necessarily mitigates
see why the bigger affiliates need to follow the Better Collective’s reliance on it.
regulated mantra of the operators other than as
iGaming Business • Affiliate Monitor • August 2019
6