Racing and Sports (ASX: $RTH) H1 FY24 Highlights

Racing and Sports (ASX: $RTH) has reported a 33% increase in group revenue, reaching $7.6 million in H1 FY24. The company's EBITDA also saw a positive trend, increasing by $557k versus the prior corresponding period. Racing and Sports is well-positioned for growth through organic and strategic opportunities, with a strong pipeline providing growth prospects in all business units globally.

Executive Commentary

The company's enhanced information services, wagering technology, and digital & media segments have shown significant progress, with continued strong organic growth and improving operating leverage. Racing and Sports has secured substantial deals in the UK and Australia, strengthening its revenue prospects going forward. The company is focused on delivering cost efficiencies and innovative products to drive turnover for wagering operators, positioning itself for sustained growth.

Summary

Racing and Sports (ASX: $RTH) has demonstrated robust performance in H1 FY24, with a notable 33% increase in group revenue and positive EBITDA growth. The company's strategic partnerships with leading global entities such as Stake.com and Playbook Engineering underscore its commitment to expanding its global footprint. With a focus on accelerating growth in the UK, Europe, and beyond, Racing and Sports anticipates a record pipeline of business opportunities and aims to achieve sustained profitability while maintaining investments for long-term growth.