foreign thanks for joining us and uh first of all congratulations on the uq1 results thanks a lot Tim uh yeah we're very excited about the performance we saw in the q1 it was really Stellar across uh all business units yeah um I find it hard to disagree uh my first question was going to be if you can run through kind of a Top Line q1 overview and as an outsider as you just said it's difficult to pick holes because Revenue even done net profit we're all up yeah we saw the strongest Revenue ever in a quarter and uh and also earnings here in the year up 44 on ebitda um and if I should sort of dive a bit into the the different areas I would highlight uh North America where we despite a very tough comparison to to last year with the New York launching last year early January we still saw 19 uh growth in in the quarter um and I think that's due to the Ohio State launch Massachusetts uh launching late in the quarter uh and and then just a good performance uh sort of from existing status as well uh we have also seen with with our uh paid uh part of the business of paid media uh very strong growth and and earnings uh there with that with a high margin uh and and compared to the historical level of the Martin for our paid business it was uh it was a record of 20 27 margin so uh yeah I will probably highlight though those parts of the business absolutely uh it's a good segue because I wrote a couple of questions on the North American Market um we've heard from a few Affiliates who have talked about the competitive nature of the market and it's tough for newer Affiliates but for a company like better Collective effectively coming in with it with a market leading position what's it like I guess being on the other end of that scale where when a new state launches I guess you can be confident of achieving strong market share yes I I think the position we now have definitely gives us some Tailwind whenever State launches and in general with with the Partnerships that we have with uh with the sportsbooks in the states um and to be honest when we uh we did our first Acquisitions back in 2019 and then the big one with Action Network in in 2021 it was really because we knew it would be important to get to that position um and and last year we achieved more than 100 million dollars in Revenue so we are a significant player in in in the American Sports media landscape sports20 media landscape and and ultimately that that gives us uh I believe unique opportunities with with the sports books and also the scale of traffic we have uh is something that that is important for the retention of of all the users of of of the Sportsbook so I I think it's absolutely right that that it's important to have a critical size in this market uh otherwise you you may have a yeah a tough tough market conditions yeah um you mentioned kind of the new States obviously Ohio's had a fantastic start um in the in the company report it mentioned that Massachusetts was a good launch but lacked a bit of regularity uh regulatory uh clearness and Clarity could you tell us a bit more about that and that was that to do with kind of the state's rules on Revenue share yes sir so there were there was a bit of a bit of back and forth and and uh and and you know we we ideally would like to work a revenue share uh with with our partners uh which was then challenged uh and and to be honest let's see where all of this lands in in the long long term uh but but that that did cause sort of a bit of uh changes uh just prior to launch and while it was launched so still it was it was a a good State launch but uh but we we prefer having uh you know certain conditions rather than uh having seen them up in the air but you know it is what it is with the estate launches and and the regulatory climate yeah no that's that's definitely fair um you talked about in the report Latin America as well so obviously in North America you're coming with a position of strength as you mentioned several Acquisitions that were in the past now so you're planning ahead uh Latin America you know a region with potential potential growth but you you said in the report you you need to do more um what more do you need to do what more can you do and can you see a time when Latin America is such a big market for you it's comparable to maybe Betson on the operator side which is quite big in latam and maybe can be on the supplier side that kind of thing well it it's a very fast growing uh part of the world and and the regulatory developments there are definitely sort of catering to to that yeah um in terms of Market potential yes it's definitely big and and it's always hard to sort of will it be as big as you know Europe North America very hard for us to predict but we're just quite certain that it's uh it will be a significant part of our business and therefore we're investing in that and and for us as we have seen like the Playbook that we saw in North America doing acquisition getting organization in place and then be able to to to grow with that we believe is is the right approach for us and now we have established an office in Rio de Chanel um and and I said like from an m a perspective we would definitely like to do uh some some Acquisitions of of interesting brands in in the region so it's ongoing work and and then from a timing perspective it's it's unpredictable unpredictable you never know when something can happen but it's it's definitely our our ambition sure we're obviously all waiting kind of on the regulation in Brazil and that'll be a massive regulator towards working Market when it when it comes to fruition um but these these mergers and these kind of deals that you've mentioned it's all helped you become effectively now it's a better Collective has over a billion dollars in market capitalization so you know it it's it's an affiliate that is a huge firm now and and comparable with with many suppliers and operators and in many cases bigger um so can you see the affiliate sector and the sports betting media sector continuing to increase in size Through The Years so maybe that that billion dollars um you know across the board we could be talking much bigger market caps maybe in 10 20 years I think we actually uh just uh hosted a capital markets day a couple of months back uh where we laid out our audition of becoming the leading digital Sports Media Group so we are basically like we started out with with sort of concentrated uh affiliate sites for the European market we've gradually been expanding that and now we're both focused on owning true Brands and also the sports uh media Brands so you know football news sites where we have an Engaged audience a big audience uh where we believe we have a Playbook of growing that audience being good at monetizing that and and ultimately sort of grieving the the scale benefits that a very big audience will give you so we are we are moving in the direction of uh becoming the leading digital Sports Media Group so it is uh an extension to the term of uh affiliate and for us affiliation is at the end of the day a business model it's how we generate Revenue where as the business we're in is more about creating engaging content and and and for now also broadening our reach with you know we have Esports uh media and Community society and hltv and we have uh fat Ben within the FIFA game so we are we are definitely sort of changing uh the nature of our business and and and the scope of our business but it all originates with a toolbox of affiliation being the leading monetization form but now also subscription uh CPM selling direct ad selling so various forms of monetization sure I mean on that basis could the traditional sports betting affiliate model will that take up less and less percentage of your kind of business or is that still going to be a call so thinking five ten years out I I would assume that as a as a share of total revenue it will likely go a bit down it will still be the majority it will still be growing for us in in total numbers uh but as we add like these new forms of monetization and we uh acquire more of these Sports media Brands I think we will see a gradual uh or a slight difference in in the mix but no doubt sort of the bread and butter is is the affiliation which which is where we come from sure just a couple more questions from me and and they're both uh I'd say a little bit a little bit specific so I'll hit with the first one I want to go back to the U.S market um you know what is your objective take on on the landscape on the operator side because you have you have a few big Brands and you know they have quite a concentrated market share uh this week we had Fanatics buying points bets us operations you know I'm wondering what your take is on on the landscape as a whole and maybe could someone like Fanatics come in and shake things up uh I I think to be honest I think we we're still far from seeing the end of that market in terms of uh how many players and and who will be the leading players obviously uh FanDuel and DraftKings they're probably not going anywhere but I I definitely expect that that Fanatics can can can can can can make it proper uh sort of uh move in this industry um and take that 365 they're definitely increasing uh their efforts in in the American market and they they have a an amazing product they come with uh like such a long uh experience an understanding of of this industry obviously having to tailor to the North American Market but to be honest what the market has been around now for for five years um it's still fairly early days we don't have all states regulated so so I think we will uh we will see changes to this Market in the coming years and basically we we also welcome that that we can see Innovation happen in in the market which I'm quite sure we'll we'll still see yeah interesting and interesting to kind of name check about 365 of course globally huge and yeah still still plenty of time to make the mark in the US um as I said that the final question is also a specific one from me um better Collective recently took a sort of a greater than five percent position in Katina media investment wise just wanted to ask you kind of strategy on that because we spoke to a few Affiliates at ice and and they were all quite interested you know what what type of investment in that is there anything coming from the other side I don't know if you could just kind of give us a an overview I know it's unfortunately a bit of a boring answer but but as we put out the press release related to to that uh uh shareholding in Katina media we also mentioned that we're not going to comment on that so so I'm afraid I have to give that boring answer well I I don't blame you but also don't blame me for asking fair enough yeah but yes but thanks very much for for joining us uh real pleasure to catch up with you on on q1 obviously as we've as we've talked about a great success and and good luck for Q2 um plenty of challenges ahead but but no doubt plenty of growth for better Collective as well well thanks a lot pleasure being here Tim thank you foreign