Winvia Entertainment (LSE:WVIA), the AIM-listed prize draw competitions and online gaming firm, said trading for the six months to 30 June was in line with its plans, and it expects to report earnings (adjusted EBITDA) of approximately £17.2m, ahead of £16m in the same period last year.
The group said increased marketing investment to win new BOTB subscribers had pushed monthly recurring revenue to a level covering all prize costs, a milestone reached well ahead of schedule.
Active customers in the Prize Draw Competitions segment rose 11% year-on-year, with record monthly paying users and conversion levels, while the BOTB Pass subscription product now generates more than 35% of monthly BOTB revenues, up from prior periods.
In Online Gaming, customer deposits by value increased significantly, driven by growth in own-brand and white label units alongside the B2B stream.
"We are well positioned to maintain this momentum through the second half and remain firmly on track to deliver full year expectations", said chief executive Mihai Manoila.
Since the period end, Winvia has completed the acquisition of Rev Comps and migrated it onto its proprietary technology platform, and launched "Villa Win" with Aston Villa Football Club, its first B2B partnership in the prize draw segment.
The group said it continues to engage with multiple potential acquisition targets as part of its consolidation strategy in the fragmented UK prize draw market, with interim results due in the second half of September.
News Intelligence what this means for the company
Winvia lifted H1 adjusted EBITDA 7.5% year-on-year to £17.2m, driven by 11% growth in Prize Draw active customers and a milestone where monthly recurring revenue now covers all prize costs ahead of schedule. The group remains on track for full-year guidance. Post-period, it completed the Rev Comps acquisition and launched Villa Win with Aston Villa Football Club as its first B2B prize draw partnership, signalling execution on its consolidation strategy in the fragmented UK prize draw market.
The H1 beat and ahead-of-schedule achievement of prize-cost coverage demonstrate operational leverage in the core Prize Draw segment, while BOTB Pass now generating over 35% of BOTB revenues shows successful subscription monetisation. The post-period acquisitions and B2B partnership expansion extend the growth runway, though the group's ability to deploy capital efficiently across multiple targets and integrate them onto its platform remains the key execution risk.
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