Betty CEO: It’s time to look at growth outside Ontario

Source: Betty

Betty is reporting solid revenue growth for the fourth quarter of 2024, to the point where Chief Executive Officer Justin Park is talking about a multi-jurisdictional growth strategy for 2025.

That would represent a new direction for Betty, the online casino operator that went live in Ontario in February 2023.

In a LinkedIn post, Park said the company closed 2024 with net revenue of US$114 million, with nearly 40,000 active players in Ontario. The company started 2024 with just under 5,000 players.

“As we enter 2025, we are thinking bigger and bolder,” Park wrote. “We are starting to develop the confidence that our product and operating philosophy can catapult us into becoming the world’s largest gaming and entertainment brand.

“We aim to become multi-jurisdictional this year. This is where things start to fall apart for most gaming businesses. I’m both excited and anxious. Need to keep reminding myself that I’m not doing this alone and that the vision is supported by the talented, dynamic, persistent, and fierce Betty team. I suppose this year we’ll find out just how real all of this truly is.”

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Park decribed the company philosophy to CDC Gaming last year, saying it was hyper focused on Ontario, with no sportsbook offering, a platform built in-house, and was targeting the female online casino player, which had been under-served.

Betty has focused on polishing product experience, believing that women are looking for bite-sized entertainment, that they can do in small spurts. So Betty’s minimal deposits were low (as low as $1), Park said at the time.

Betty’s new platform built on real-time data would be a differentiator in Ontario, custom built for players in the province, he had said.

Based on Park’s statement yesterday, that’s worked, and the company is positioned for expansion.