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Better Collective acquires leading US sports betting media platform, Action Network, for 240 mUSD

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Better Collective chooses Ronin Sport for integrated solutions showing sport on TV

 

With the acquisition of Action Network, Better Collective gains clear market leadership within sports betting media and affiliation in the US and now expects to increase its revenues in the US to more than 100 mUSD by 2022.

Sports betting media group, Better Collective, today announces that it has signed an agreement to acquire 100% of the shares in Action Network, Inc. (“Action”) for 240 mUSD (198 mEUR) on a cash and debt free basis. Founded in 2017 and launched in 2018, Action is uniquely positioned in the US market as the premium sports content and product destination for US sports bettors. A trusted source for sports fans, Action’s media platforms provide an enhanced experience for its users through original sports news content, premium insights, deep menus of odds and proprietary betting tools and data. Action’s diverse revenue model includes a rapidly-growing affiliate marketing business focused on customer acquisition for betting operators in the US as well as subscription products, anchored by Action Pro, Action Labs and Fantasy Labs.

Action continues to benefit from the expanding legal sports betting market in the US. In 2021, Action is expected to achieve revenues approaching 40 mUSD, an increase of over 100% year-on-year, while also generating positive operational earnings in 2021. As more states legalize online sports betting, the potential to further deepen and expand Action’s commercial partnerships with large US-based sportsbooks such as BetMGM, DraftKings, FanDuel and PointsBet   is significant. Action is headquartered in New York, and has approximately 100 employees.

The Transaction

The purchase price amounts to 240 mUSD (198 mEUR) on a cash and debt free basis and will be settled in a cash payment and a 12 mUSD issuance of new Better Collective (BETCO.ST) shares to Action’s management, key employees and certain other individuals. 10 mUSD of the cash payment will be paid on a deferred basis as settlement of certain existing share options in Action. The number of Better Collective shares issued will be determined by the volume-weighted BETCO.ST share price 5 trading days prior to the date of this announcement. Further, the issued Better Collective shares will be subject to a lock-up of between 6 and 24 months following completion of the transaction.

The cash component of the purchase price will be provided through bank financing.

The acquisition is subject to customary regulatory approvals and is expected to be completed in Q2 2021.

Better Collective in the US 
While the US sports betting market has grown rapidly since the repeal of the Professional and Amateur Sports Protection Act (PASPA) removed a federal ban on online gambling, only 13 states have legalized online gambling at this point. Many more are expected to follow in the coming years, with the addressable market significantly expanding as a result. Total online sports betting revenues in the US are forecasted to reach 4 bnUSD in 2022 and amount to nearly 40 bnUSD in 2033*.

Following the execution of Better Collective’s acquisition strategy and ongoing investments in the US market, Better Collective’s US business has developed successfully, with high growth and a rapid increase in profitability. The acquisition of Action consolidates Better Collective’s leading position in the affiliate and customer delivery verticals within online sports betting, enabled through a number of strong product platforms. In light of this, and given the continued pace of new states regulating, Better Collective expects the US market to continue growing and its US revenues to surpass 100 mUSD by 2022, with positive and increasing operational earnings.

Action will become an integral part of Better Collective US and will continue to operate as a separate business unit with its current brands, management team, and employees, led by CEO Patrick Keane who will report to Group Management through US CEO, Marc Pedersen. Action will integrate with Better Collective’s current organization where relevant in order to generate efficiencies.

Jesper Søgaard, CEO of Better Collective, says:
“I am thrilled to welcome Action and its employees to Better Collective. This acquisition, which is the largest in Better Collective’s history, gives us a leading position within affiliation in the US and a strong foundation for profiting from the continuous regulation of the US betting market. We add three new, very well positioned US sports media brands to our portfolio and welcome around 100 new colleagues, together representing an invaluable pool of knowledge and expertise on the US sports betting media market. By all accounts, this is a great day for Better Collective.”

Patrick Keane, CEO of Action, says: 
“Today marks a great achievement in the history of Action. In just a few years, our team has managed to build a leading sports betting product and media business in the US market, making us attractive to a leading international player. I am thrilled about this outcome for our employees and investors and we look forward to continuing to forge great relationships with our league, media and sportsbook partners. Under Better Collective’s ownership, we become part of a company with many years of experience and all the resources necessary to further grow our position and develop our offering, to ultimately enhance the betting and entertainment experience for sports fans. We gain new colleagues, career paths and perspectives. I’m looking very much forward to the journey ahead. ”

Financial Targets
Better Collective will consolidate Action into the Better Collective Group from the time of closing. In connection with the acquisition, Better Collective is updating its Financial Targets for 2021:

  • Total group revenue is now expected to exceed 180 mEUR (previously more than 160 mEUR); and
  • Operational profit is now expected to exceed 55 mEUR (previously more than 50 mEUR).

Better Collective will share more details in connection with its Q1 2021 earnings report that will be released on May 12, 2021.

The acquisition of Action will bring Better Collective’s estimated debt leverage (Net Interest Bearing Debt/EBITDA) above the company’s financial target of <3.0. Due to Better Collective’s strong operating cash flow, the Board of Directors has decided that for the time being, it is acceptable for the company’s debt leverage to exceed the financial target of 3.0, which target remains in place for 2021. The Board will therefore decide upon any potential changes to the company’s long term capital structure in due course.

Advisors
Morgan Stanley acted as sole financial advisor, Bruun & Hjejle and GreenbergTraurig acted as legal advisors, and PwC acted as accounting and tax advisor in connection with the acquisition for Better Collective. Nordea Bank will be providing financing to facilitate the closing of the transaction.

Moelis & Company LLC acted as sole financial advisor and Venable LLP acted as legal advisor to Action. Gibson, Dunn & Crutcher LLP acted as advisors to The Chernin Group, the largest shareholder of Action.

Affiliate Announcements

WPT GLOBAL JOINS GAMBLING PORTAL WEBMASTERS ASSOCIATION AS PLATINUM SPONSOR

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WPT GLOBAL JOINS GAMBLING PORTAL WEBMASTERS ASSOCIATION AS PLATINUM SPONSOR

 

WPT Global, the online poker platform licensed by the World Poker Tour, has joined the Gambling Portal Webmasters Association as a Platinum Sponsor.

The newly-established partnership between WPT Global and the GPWA will help advance the relationship with affiliates even further. As the leading platform in connecting gambling industry professionals, the GPWA provides WPT Global with the necessary tools to reinforce the relationship between the brand and its affiliates.

Already carrying the name of one of the most respected brands in the poker industry, WPT Global adds even more credibility by adding the GPWA Sponsor Seal. This new certificate is further proof that WPT Global is committed to the shared values of integrity, respect, transparency and ethical business practices.

WPT Global’s affiliate program, WPT Partners, rewards the partner websites’ effort and commitment to promoting the brand. By working together with the WPT Global, affiliates enjoy a wide range of benefits, which include:

• Different deal types: revenue share, CPA and hybrid, which combines both.
• Sub-affiliates revenue share, up to 2.5%.

WPT Partners have a variety of market tools at their disposal. The WPT Global newsletter, which contains information on the latest campaigns, promotions, events, partnerships and system updates, will keep affiliates up to date with everything they need to know. WPT Global creates a close relationship between its products and the affiliate’s players, all increasing and optimizing customer conversion.

The recently launched WPT Global platform brings the World Poker Tour experience online. Already available in over 50 nations and territories, WPT Global offers the best possible online poker experience in a secure, fair and exciting package.

Players signing up for the WPT Global app will join the largest poker network in the world, with a variety of poker games available to suit all bankrolls and styles. WPT Global welcomes new players with a first deposit bonus of 100% up to $1,200.

WPT Global has fully embraced NFTs and the Metaverse, having recently partnered with GAMAVRS to create Poker Heroes Club, the world’s first NFT poker community. With 9,999 NFT avatars auctioned since its launch in February 2022, Poker Heroes Club also brings many exclusive benefits. Its members enjoy celebrity poker tables with WPT influencers, $100,000 freeroll tournaments, access to VIP WPT Global events and a private Discord channel.

Players of all levels can also learn from the best with Learn WPT. Starting at $5 for the first month of membership, players will undertake comprehensive workshops and learn from professionals on how to win at poker.

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Affiliate Announcements

HITSQWAD PARTNERS WITH FIRST LOOK AS IT UNLEASHES DEBUT GAMES

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HITSQWAD PARTNERS WITH FIRST LOOK AS IT UNLEASHES DEBUT GAMES

 

First Look Games will enable affiliates to access HITSqwad’s action-packed jackpot titles

Challenger games studio HITSqwad has partnered with leading affiliate platform First Look Games as it prepares to unleash its debut Jackpot Theme, FIRST STRIKE.

There has been no announcement about being an online casino with no deposit bonus, but fans and newbies alike are hoping for something similar.

First Look Games is the ultimate platform for game studios to connect with iGaming affiliates and over 20 million casino players around the world. It gives publishers in the affiliate space access to game information, assets and content on the latest slots before anyone else. By connecting game developers directly with the publishers who promote their content to players, it increases the volume, quality and compliance of game marketing.

Formed by a team of industry veterans, HITSqwad’s Vision is to become a Market Leader in the supply of both Jackpot Technology & Jackpot Games to the Online Gaming Market.

The studio’s eagerly awaited debut jackpot games include the military themed BRAVO MISSION, and the Viking inspired RAGNAR, both of which are packed with action in the form of freespins, win multipliers and tiered bonus and jackpot features.

It’s the first of several completed HITSqwad games that will be released to the market via the Playzido Network in the coming months.

Interested affiliates can sign up, free of charge, at firstlookgames.com to learn more.

Charl Geyser, CEO of HITSqwad said: “We’re delighted to partner with First Look Games. HITSqwad is committed to working with the highest-quality partners to enable the entire industry and players to get the best from our exciting product range. The initial two games are locked, loaded and ready for action, and there are many more in the pipeline. Registered affiliates can see them first at First Look Games!”  

Tom Galanis, Managing Director at First Look Games said:HITSqwad are a really exciting new games studio and we’re thrilled they’ve chosen First Look Games. We think they’re going to make a real splash in the market, and we want to help them do that by delivering maximum exposure for their games.”

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Affiliate Announcements

LottaRewards Launches New Features for Enhanced Player Experience!

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LottaRewards Launches New Features for Enhanced Player Experience!

 

LottaRewards is thrilled to announce that they have taken their brand experience to the next level. Many features across the Lotto247 platform have been enhanced for improved conversions and customer lifetime value, leading to increased player engagement with more games and offers to choose from. Income Access has been providing its industry-leading affiliate tracking platform solution to LottaRewards, but we are also excited to share the expansion of the existing partnership, as IA will now be managing the LottaRewards affiliate channel. The affiliate platform offers affiliates a wide range of marketing and analytics tools, flexible commissions, detailed performance tracking and support from a knowledgeable team of industry veterans.

About Lotta Rewards
LottaRewards is the longest running and best lottery affiliate program in the industry. Their core brands Lotto247.com, PlayHugeLottos.com, GrandesLoterias.com and PlayUSALotteries.com operate in more than 100 countries, and provide support in 6 languages including English, Hindi, Spanish, Portuguese, Romanian and French. Their brands make it possible for players from all around the world to participate in the world’s biggest lottery jackpots, including the famous US Powerball, Mega Millions, Mega Sena, Euromillions and more.

Brands and Products
Affiliates can promote the different LottaRewards brands based on their traffic and targeted markets. Lotto247’s brand purpose is to serve up life changing fun for everyone and is positioned as an always-on, always open destination to try your luck, win BIG and live free. The site is slick and mobile friendly, offering a first-class lottery experience with a colourful twist. The brand also offers access to exclusive jackpots, a variety of payment mechanisms, continuous promotions, and generous giveaways.
PlayHugeLottos has been around for over 20 years and has built up a rock-solid reputation as a trusted place to chase the ultimate luxury lifestyle dream. The brand purpose is to help you dream bigger than ever before. The site has been designed to provide players with localized experiences and offers. Players won’t find generic promotions or campaigns here, PlayHugeLottos.com is the embodiment of VIP treatment. They also offer GrandesLoterias.com which is specially for the Latin American and Spanish audience whereas PlayUSALotteries.com focuses on the world-famous US Jackpot draws and is popular in all ROW markets.

Player Opportunities
New players on Lotto247 and PlayHugeLottos are treated from the get- go. The Players get an opportunity to take advantage of the following promotions:
• 50% deposit bonus within 72 hours after their FTD
• Discounted entries to international draws and Cashbacks after depositing
• Best lottery odds, free lottery entries, access to special Superdraws
• Surprise gifts for simply signing in and much more.

The product portfolio is extensive and caters to any player repertoire. All brands offer Lottery Betting, hundreds of Slots from all the top suppliers, eScratches, Table Games, Live Dealer Casino, Keno and coming soon: Sportsbetting.

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