Leaders at slots-focused online casino Betty Canada believe the company has had a breakthrough in the Ontario market after reporting surging growth in the quarter ended Sept. 30.
Betty Group CEO Justin Park and Betty Canada CEO Chavdar Dimitrov delivered a shareholder update which showed the first EBITDA-positive quarter for the Ontario-focused arm of the business.
EBITDA reached approximately $1.4 million CAD in both July and August, cumulative net revenue rose 39% quarter-over-quarter to around $82.4 million CAD and total profit hit around $2.1 million CAD. Annual net revenue run rate peaked at $334 million CAD, up 30% QoQ, with the net figure at approximately $330 million CAD.
The active player base of Betty Canada (which, for now, still means slots players in the regulated Ontario market only) grew to more than 99,000 users placing real-money bets, a 37% quarterly rise, which Dimitrov said was based on extremely strong user acquisition and referrals. After launching initially as a female-focused online casino platform, Betty’s demographic split is now close to 50/50 between male and female players, and also skews younger now than it did early on.
Customer acquisition cost, which factors in media spend, KYC and welcome bonuses, dropped by $63 CAD to average $443 CAD, and active players generated an average of around $308 CAD in revenue for the operator.
Dimitrov said a highlight of the quarter was the launch of the Android app, after it introduced its native iOS app in April. The company said the native apps have allowed it to start diversifying paid user acquisition and move away from Google as its only reliable source of new customers. Betty is working on following up on that launch with upgrades, such as the full rollout of push notifications and a revamped loyalty program that is primarily designed to drive longer-term retention.
Betty may be top-five Ontario operator, speculate execs
More prominent on social media and other channels in 2025 than ever before, Betty’s marketing spend is paying off.
“We may have had a breakthrough on brand,” Park noted on LinkedIn. “After nearly four years of searching, I believe we’ve finally identified a cultural pocket with universal appeal, entirely untapped, and one that Betty is uniquely positioned to own.”
Betty also began to feel the benefits of the major sponsorship deal it signed with Maple Leaf Sports and Entertainment (MLSE) in June which made it an official online casino partner of the Toronto Maple Leafs and Toronto Raptors. Dimitrov told the Gaming News Canada podcast that Betty Canada will evaluate any opportunities to partner with any brands “of the same magnitude” in Ontario or elsewhere in Canada, although it will not focus on more sports-centric partners.
Ultimately, Betty’s leaders are pleased with how the brand and the company are performing. iGaming Ontario (iGO) does not detail revenue or other financial statistics by operator, but Dimitrov told the podcast that he believes Betty may even be pushing into the top five online casino operators in the province. Dimitrov previously explained to Canadian Gaming Business in June that the company intends to push to be top dog in Ontario, as well as to enter Alberta when that province opens its iGaming doors.
“I wouldn’t say that Betty is a small fish anymore,” reflected Dimitrov to Gaming News Canada. “I would definitely say that we will be fighting for number one next year. With the native apps, with spending more money on marketing both brand and performance, we’re grabbing more market share, and I’m confident that will continue into 2026 if not 2027.”
