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betr Entertainment Ltd ASX:BBT

0 opened or increased2 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 3 managers in total.

Position history by manager 3 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

20252026

31 Dec 2024 to today

Commentary Showing 2 of 10

DateManagerActionSummary

31 Jul 2026Salter BrothersHeldSalter Brothers continues to hold betr Entertainment after the company delivered a positive June-quarter update, reporting $4.3 million of operating cashflow adjusted for client deposit movements, a substantial improvement from prior quarters. The manager notes the company reiterated 2H FY26 EBITDA guidance of $5-8 million and FY27 EBITDA guidance of $13-19 million, with turnover growth excluding the World Cup contribution up 15% on the prior comparable period, strong reception for recent product releases including a live multi tracker and Sky Racing integration, and the company retaining its stake in Pointsbet with an anticipated favourable near-term resolution.

Gaming TechnologyMonthly Report, price recorded $0.19

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30 Apr 2026Ellerston CapitalHeldEllerston Capital continues to hold Betr Entertainment Ltd despite a 10% share price decline following a positive third-quarter trading update, which showed win margins normalising back within target range after a highly promotional Spring Carnival period and a run of unfavourable sporting outcomes. Ellerston Capital notes management reaffirmed EBITDA guidance of $5–8 million for the second half of FY26 and $13–19 million for FY27, supported by ongoing cost reductions and modest top-line growth. The fund highlights that the business is structurally improving as it transitions from a VIP-led model toward a more recreational and repeat customer base, with Same Game Multi turnover increasing 33% year-on-year.

Monthly Report, price recorded $0.18

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8 more comments on BBTPro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 3 managers first commented on BBT.

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Articles

30 Apr 2026betr Entertainment BBT Fund Manager Commentary and Investment Thesis

About betr Entertainment Ltd

Industrials, Hotels, Restaurants and Leisure

betr Entertainment (ASX:BBT), an online wagering operator, has improved cash generation, according to fund managers. In July 2026, Salter Brothers reported a positive June quarter update, with operating cash flow of $4.3 million after adjusting for client deposits, a substantial improvement. Ellerston Capital noted the shares gave back around 10% in April despite a positive third-quarter update, with win margins normalising within target range after a highly promotional Spring Carnival. betr Entertainment operates in the Consumer Discretionary sector within the Hotels, Restaurants and Leisure industry, and Thesis Tracker has captured 10 comments from 3 fund managers, including Salter Brothers and Ellerston Capital. Founded in 2015 and headquartered in Sydney, betr Entertainment, formerly BlueBet, operates the betr online wagering platform offering racing and sports betting to Australian customers, and has grown through acquisitions including the betr brand, competing with larger operators such as Sportsbet and TAB.

Market cap: $157m
Price to earnings: Loss-making
Return on equity: -24.5%
Dividend yield: 0.0%
Price to book: 1.61x
Net margin: -28.0%
52-week range: $0.15 to $0.28

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in betr Entertainment Ltd (ASX:BBT)?

Fund managers including Salter Brothers, Pendal Group and Ellerston Capital have invested in betr Entertainment Ltd (ASX:BBT).

What opportunities or catalysts do fund managers highlight for betr Entertainment Ltd?

Salter Brothers highlights a significant improvement in operating cash flow, and Ellerston notes win margins returned to target levels after a promotional period, supporting profitability.

What are the key risks to the betr Entertainment Ltd investment thesis, according to fund managers?

Ellerston notes the shares fell despite positive updates, and the business operates in a highly competitive, promotion-heavy online wagering market subject to regulatory scrutiny.

What does betr Entertainment Ltd (ASX:BBT) do?

betr Entertainment Ltd. is an online wagering company headquartered in Sydney, Australia. Founded in 2015, the firm specializes in digital betting services. This established operator maintains a focus on the Australian online gambling market, providing accessible wagering platforms for users. Investors should note the company's operational history and strategic location within the Australian gaming sector.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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