London, October 2025 – B90 Holdings (AIM: B90), a leading customer acquisition specialist for the global online casino and gaming industry, today announced a sharp increase in revenues following its successful transformation into an AI-powered affiliate marketing business.
In its latest half-year results, B90 reported revenues that nearly doubled compared with the same period last year, alongside a significant rise in EBITDA. Analysts have since upgraded their forecasts, with full-year revenues expected to reach €6.4 million.
Chief Financial Officer Marcel Noordeloos said the company is “very comfortable” with these projections, citing the scalability of its business model and rapid return on marketing investments.
Pivot to Affiliate Marketing Paying Off
B90 has successfully transitioned away from operating B2C online casinos and sportsbooks, where high costs and industry consolidation made growth challenging. Instead, the company has focused on B2B customer acquisition through affiliate marketing, helping more than 200 operator partners acquire new players.
By cutting out the major cost burdens of running casinos—licensing fees and payment processing costs—B90 has created a leaner, more efficient business. Revenues have grown while operating expenses remain flat, thanks to heavy investment in automation and AI-driven campaign optimisation.
“AI never sleeps,” said Chairman and CEO Ronny Breivik. “It works seven days a week, giving us a structural advantage in launching, testing, and optimising campaigns at scale.”
AI at the Core of Growth Strategy
Over the past 18 months, B90 has built a proprietary marketing platform that generates high volumes of content-rich websites and campaigns, enhanced by AI tools supervised by human editors. This allows the company to run more campaigns across more geographies, increasing customer reach while keeping its cost structure “lean and mean.”
Affiliate marketing via pay-per-click advertising remains B90’s primary growth engine, with rapid cash conversion cycles enabling reinvestment into new campaigns.
Expansion & Partnerships
While Europe remains B90’s strongest market, the company has begun testing campaigns in new regions, including New Zealand, with encouraging early results. Expansion will continue on an opportunistic basis, guided by strict return-on-investment models.
Partnerships remain central to growth. Existing operator relationships provide a steady flow of new brand campaigns, while new partnerships expand B90’s global reach.
“We run the business like a football team,” said Breivik. “If the right expert is available at the right time, we bring them in. AI takes care of repetitive work so our people can focus on creativity and strategy.”
Looking Ahead
With just 18 employees, B90 prides itself on being agile, collaborative, and innovative. The company continues to explore opportunities for acquisitions and further expansion of its marketing platform.
While regulation and industry consolidation remain potential risks, B90 sees them as opportunities for well-positioned affiliates to gain market share.
“From a B2C brand to a data-driven affiliate marketing specialist, we’ve already shown we can adapt and grow,” said Breivik. “This is just the beginning of the next stage of our journey.”
About B90 Holdings
B90 Holdings plc (AIM: B90) is a customer acquisition and affiliate marketing specialist for the online casino and sports betting industry. Working with over 200 licensed operators worldwide, B90 leverages AI-driven platforms to deliver scalable, cost-efficient campaigns that drive growth for its partners.
