The McDonald’s of iCasino? New Betty Canada CEO on How They Will Double Revenue
Posted on: February 19, 2025, 03:58h.
Last updated on: February 19, 2025, 03:59h.
- USD $114 million-dollar net revenue run rate in 2024 after originally projecting USD $20 million
- 39,000 active players after predicting 6,600
- New business model aims at making Betty the “McDonald’s of iCasino”
These are bullish times at Betty, the online casino platform that joined the licensed Ontario igaming market in February 2023.
Re-branded “Betty Canada”, the Toronto-based company, under new CEO Chavdar Dimitrov, is expanding its business beyond Ontario’s borders, also taking their product beyond the female-focused platform that they launched with.
Eyes on the Prize: Alberta
Our gender split is pretty consistently 50/50, with a slight skew towards women,” Dimitrov said. “Our approach is to be female-friendly without alienating men, as so many of our competitors are male-focused. We are definitely a platform for men and women, and we’re happy that our offering resonates with players across gender, culture, and location.”
Alberta is in their sites. The province is currently working through a regulatory regime for a new competitive, Ontario-style private market.
Canadian Gaming: Bullish Financials
A few weeks back, Betty reported some robust financials for 2024 – exiting the year on a USD $114 million-dollar net revenue run rate, with over 39,000 active players (at the start of 2024 the company had targeted USD $20 million net revenue run rate and growing the customer base to 6,600 active monthly players).
That was based on Ontario-only operations.
Franchise Model Going Forward
Company founder Justin Park announced a new strategy for the company going forward – a decentralized, franchise model, focusing on Betty becoming a global casino brand, also expanding into markets like the U.S. and Latin America.
The idea there is to become the “McDonald’s of iCasino,” as Park put it, partnering with managers, providing them with the tools for success, with licensing fees flowing back into Betty parent company coffers.
Those tools provided to the franchise managers would include brand (name, trademark, website domain), technology (front and back offices) along with a dedicated CTO, digital user acquisition, operating playbook and startup capital (equity, credit lines for user acquisition).
Local managers, or CEOs, will have “significant” ownership stakes with the autonomy to raise additional capital and offer equity.
Dimitrov is the CEO of what is the first owned and operated franchise.
What Are the Opportunities for Further Growth in Ontario?
“We have a few key initiatives for 2025. The first big change for our players will be our native mobile app, which is already in the making,” Dimitrov said.
Further down the line, we’re preparing significant changes to our loyalty program, which aims to further improve the value we’re offering. Last but not least, we’re always looking to add new titles to our games portfolio, and there are some exciting additions coming.”
Last Comments ( 2 )
BEWARE Betty is literally the worst gaming site iv ever played, stealing, lying, gaslighting,life ruining, bank frauds. April 28 to May 18 and still havent received fund that have been STOLEN. Reported 6200 missing on April 28 and they say it never happened well 194 transactions says other wise. 100% the issue has reported to fraud department with bank, they will get my money back. Btw if you tell Betty live chat about ANY distress they've caused you will be effectively blocked from your account and all access to personal information
Doubling their revenue by stealing money from people's bank accounts, saying it was a payment processing issue. This icasino is nothing but a bunch of crooks.