Trading Update

B90 Holdings plc, (AIM: B90) the online marketing and service provision company for the gaming industry, is pleased to announce the following update for the financial year ended 31 December 2023 ("FY 2023").

Management delivered on several key operational milestones during 2023, which are expected to help the Group achieve profitability in 2024. During the last quarter of the year the Company restructured its casino and sportsbook operations and transitioned to an outsourced solution.

Revenue1 and reported loss1 for FY 2023 are expected to be in line with market expectations, although increased marketing and administrative expenses (including one-off restructuring costs) during the year are expected to result in an increased adjusted EBITDA loss1 over 2022.

Strategically, the Group has undergone a significant shift to focus on its B2B operations. This includes the discontinuation of B2C gambling on www.Bet90.com and the relaunch of the platform as a comprehensive affiliate site offering a wide range of content, including casino reviews and information about available bonuses for both sportsbook and casino. B90 has now successfully established over 200 partnerships in the industry with notable names such as Bet365, Unibet, ComeOn Group and Betsson Group.

In line with this strategic realignment, B90 has also streamlined operations at www.spinbookie.com. In January 2024, the Company partnered with a specialised platform and operations partner. The Company is now fully focused on its B2B, performance marketing strategy.

This move has already reduced Group operating costs and enhances the Company's focus on affiliate marketing efforts. The new look and feel of Spinbookie.com is live and operational, providing a much-improved customer experience.

The operations of Emwys and www.oddsen.nu, dedicated to engaging users with online gaming forums and maintaining affiliate agreements within the Nordic region, have performed in line with management expectations during FY 2023. Full integration of Emwys, acquired in July 2023, into the Group has now been completed.

The Company also announces that Marcel Noordeloos has agreed to continue in his position as Finance Director and to remain on the Board.

Executive Chairman Ronny Breivik commented:

"Our strategic refocus on B2B operations within the iGaming sector, particularly with the relaunch of Bet90.com and the outsourcing of operations at Spinbookie.com, underpins the shift in our business model. These initiatives are central towards achieving our target of profitability, and to driving shareholder, value in 2024.

"We remain committed to leveraging our industry experience and partnerships to deliver innovative solutions, driving our performance marketing and affiliate services. We are increasingly confident in our operational execution and our ability to build a strong foundation for sustainable growth and shareholder value. With an enhanced management team and a stronger Board, complemented by the backing of investment, as well as strategic and practical guidance from seasoned, insightful investors in our sector, we are well-positioned to realise our growth strategy."

1Unaudited.