Growth Strategy
The Group’s growth strategy is to create a business with significant scale in each of its chosen geographies and primary products, underpinned by the Group’s Technology Platform.
Since 2022, the Group has expanded rapidly through a combination of organic development and targeted acquisitions. Against the backdrop of favourable market dynamics, both in the UK Prize Draw market and Romanian online gaming market, the Directors believe that the Group is well positioned to take advantage of opportunities within each market, prioritising growth in the UK Prize Draw market in the near term while it also expects to benefit from organic growth in the Romanian Online Gaming Business.
UK Prize Draw market – acquisition strategy
The UK Prize Draw market is central to the Group’s near-term growth strategy and the Group is well positioned to act as consolidator in this substantial, fast growing and fragmented market. Having completed the acquisition of Click in April 2025, the Group also has been building a pipeline of other opportunities and is in discussions with several potential acquisition targets.
We believe there are numerous subscale (often family-owned) Prize Draw operators using legacy third-party platforms that do not have the cash flow or financial means to fund the investments required to drive future growth and profitability. These operators offer the Group the opportunity to make acquisitions on attractive acquisition multiples, the operator’s owners an exit opportunity and, following acquisition, to achieve meaningful revenue and cost synergy benefits by moving acquired businesses into the Technology Platform.
In addition, with customers typically playing on more than one site, the Group having a larger portfolio of games across multiple sites could bring the potential to cross-sell and control the calendar of draws, further increasing the Group’s marketing efficiency and revenues.
Organic growth opportunities
The Directors believe there are multiple organic growth opportunities available through the ongoing enhancement of the products and services which the Group offers.
Subscription model for UK Prize Draw business
In July 2025, the Group launched a subscription model in the UK Prize Draw Business based on a recurring monthly or annual subscription fee – “BOTB Pass”.
The subscription model encourages customers to sign up for monthly payments by offering discounted multi-entry tickets to any competition on the website. This approach gives subscribers more opportunities to participate, which in turn requires a broader range of competitions to keep them engaged.
Since its launch in July 2025, the subscription model has demonstrated strong early performance, exceeding initial projections across the key metrics. This helps gives the Board confidence that this new business model will be successful, although it remains conscious that the offering is still very nascent.
In addition to offering convenience to the customer, the Directors believe the subscription model will significantly improve revenue visibility and increase average player revenue metrics, enhancing lifetime values, and at comparable customer acquisition costs. Given the Group’s inherent positive operational gearing, a high drop-through rate on incremental revenue from a subscription-based model would be expected to flow through to profit.
Expansion of business channels
The Directors intend to utilise the Group’s Technology Platform to develop B2B and white labelling solutions which could be offered to other media channels and intermediaries on the basis of establishing revenue- share models across media channels. This would enable consumer facing businesses with no prior or limited experience in the relevant sectors to be able to monetise their users with a relatively low cost of implementation.
In August 2025 the Group launched its B2B offering which provides a full platform solution that includes technology, infrastructure, and operational tools for partners to run and scale their own gaming brands. This represents a comprehensive turnkey solution for partners looking to enter or expand in the online gaming market and since its launch, the B2B offering services several gaming brands, including Win2, Las Vegas and Slot.md and has shown strong early performance.
Technology Platform optimisation
Underpinning expected growth opportunities will be the continued investment in the Group’s Technology Platform to continue to drive improving key performance indicators. The Directors anticipate further investment in AI to automate marketing processes and improved data analytics, and mobile app enhancements to improve the experience for customers and the creation of loyalty tiers to strengthen customer retention.