Strong Revenue Growth
First quarter revenue was $262 million, up 21% year-over-year, driven by growth of 25% in online casino and 11% in sports betting.
Record Adjusted EBITDA
Adjusted EBITDA was $33 million, almost double compared to the same period last year.
North American Market Expansion
Year-over-year revenue growth in 15 out of 16 North American online markets, with Michigan showing 40% growth and Delaware exceeding 80% growth.
International Market Success
Mexico saw year-over-year growth near 50%, and Colombia's GGR was up 55% despite the VAT tax.
Increased Marketing Efficiency
Marketing spend increased by only 3% year-over-year while achieving leverage over marketing spend, reducing it to 15% of revenue compared to 17% last year.
Positive Legislative Developments
Progress in Alberta's online gaming legislation and Pennsylvania joining the multistate Internet gaming agreement.