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.

Mark Keast Read More
Expertise: Canadian Gaming, iGaming, Las Vegas, Sports Betting, NFL, Boxing, UFC.
  • 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.

The new CEO of Betty Canada says he aims at doubling the company’s revenues in 2025. Image/Betty.

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.”