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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

Latam Affiliates Confirmed for June 30, 2022

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Latam Affiliates Confirmed for June 30, 2022

 

The first edition of the Afiliados Latam – São Paulo event is confirmed for June 30th and will take place in São Paulo. The event will be the day after the BiS (Brazilian iGaming Summit), which will take place between the 28th and 29th of June, at the same location.

This year, both events will be held at Espaço JK, which is located on one of the most prestigious corners of São Paulo, at the intersection of Av. Juscelino Kubitscheck and Av. I would do Lima. In addition to a select venue, the event will also feature high quality content and renowned speakers in the iGaming industry.

Among some of the names that will be present, are confirmed, Pedro Lucas Trindade, Pedro Feitosa, Juliano Fontes, Fernando Verchai, Abelardo Dantas, Rodrigo Loco and other famous figures who will soon have their names released.

The event that covers the iGaming market, which in turn includes sports betting, casino games, bingo, poker and other modalities, should also cover topics about digital marketing in general, in addition to affiliate marketing. In addition to this publicity content, we will have issues regarding crypto, tokens and NFTs being covered on stage.

The complete agenda will be published on the official website of Afiliados Latam until the beginning of June. Until then, stay tuned to the event’s digital channels to follow the names of confirmed participants and the companies that will be there.

For the time being, the expectation is that there will be panels dedicated to the hottest issues of the moment, such as the possible situation of affiliates after a regulation of the sports betting market and the possible opening of the market in general after the bill that was passed in Congress earlier this year.

““The initiative will give voice to affiliates who bring years of experience in their luggage, to share during the event, so that the audience can take advantage of important tips to start or improve their operations” – commented Alessandro Valente, co-founder of Super Afiliados and creator of the event.

Since December, plans were being drawn up so that the event would take the form it needed to reach both the more experienced public and those who are not yet used to working in this sector.

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Affiliate Announcements

Blexr Acquires Prime NZ Casino Review Site for Seven Figures

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Blexr Acquires Prime NZ Casino Review Site for Seven Figures

 

Lead generation company Blexr has bought the New Zealand-based website CasinoReviews.net.nz as part of its ongoing drive to expand its portfolio.

The site provides honest and thorough reviews of reputable online casinos which accept players from New Zealand, helping people make better online decisions.

Blexr, which has its headquarters in Malta, plans to make the website the most comprehensive casino resource for Kiwi players.

Blexr acquired https://www.casinoreviews.net.nz/ for a seven-figure sum, demonstrating its commitment to owning properties that will further enhance its offerings to its customer base.

Koen Bongers, Blexr’s Head of Marketing, said: “We believe this acquisition will blend very well into our existing product portfolio while increasing our presence in our target markets.

New Zealand has a high interest in slot machines – called ‘pokies’ locally – and our bespoke free casino games technology allows us to create a highly localised offering in the market that will stand out from the competition.

“We have big plans for this website and are excited to see how it will grow in the coming months.”

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Affiliate Announcements

AffPapa and Bspin.io join forces in a new partnership

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AffPapa and Bspin.io join forces in a new partnership

 

AffPapa is excited to reveal its new partnership with Bspin.io, officially welcoming the iGaming operator to its ultimate directory.

Bspin.io, which launched in 2018, has since set up a dedicated community of returning players who enjoy a variety of benefits that we’ll go over in a bit.

The iGaming operator, which employs Bitcoin as its exclusive currency, allows its users to deposit, play, and withdraw Bitcoin with no extra conversion in their accounts – same with opening and exiting the games.

Bspin.io commented on the partnership:
“Bspin.io is very pleased to have started cooperation with AffPapa to continue delivering one of the purest forms of entertainment made transparent, safe, and with the players in mind. The joint effort will help to continue operating globally developing the proprietary casino platform on top of crypto adoption.”

Bspin.io is constantly upgrading its appearance and introducing new games. Over 600 titles are available on the website, ranging from jackpots to slots and table games. Daily rewards and one-time bonuses keep gamers intrigued and returning for more.

The operator covers popular GEOs, including Australia, Germany, Japan, Mexico, the United States, and Venezuela.

Yeva Avagyan, CCO at AffPapa, stated:

“I am very delighted to see Bspin.io go live with us – AffPapa. With their generous bonuses, one time offers, and 600+ thrilling games, Bspin has secured a loyal fanbase. I’m sure our crypto affiliates will be pleasantly surprised by our new operator being listed in the directory as well.”

When it comes to feedback and customer support, the operator states that every opinion and suggestion is evaluated. Their team of experts feel that this is the ideal strategy for having satisfied consumers.

With reliability, lightning-fast performance, and huge offers, Bspin.io is now open for direct messaging and exciting collaborations!

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