The Denmark-based gaming firm, Better Collective, has purchased the sports wagering platform, AceOdds, for €42 million (approximately $45.6 million). Better Collective posits that AceOdds’ substantial foothold in the UK market will significantly elevate their brand visibility within the region. They also intend to broaden AceOdds’ scope into other global territories. This acquisition holds significant weight, as it was appraised at four times AceOdds’ profits over the preceding year.
In light of this acquisition, Better Collective has revised their financial projections for the remainder of 2024. They now anticipate revenue ranging from €395 million to €425 million, marking a considerable increase from their initial objective. Their earnings aspirations have also been adjusted upward.
This announcement follows a prosperous year for Better Collective, characterized by a 21% surge in revenue throughout 2023. Nevertheless, their earnings did experience a slight decline in the final quarter of 2023. It remains to be seen how they will fare in the first quarter of 2024.
Ian Bowden, a high-ranking official at Better Collective, conveyed his enthusiasm about integrating AceOdds into the organization.
This tactical purchase brings AceOdds, a reputable sports wagering media entity active in the British market, into our portfolio and positions it for international growth. This action aligns seamlessly with Better Collective’s current plan of acquiring premier sports media entities across various regions. AceOdds addresses a critical need by establishing a solid presence for us in the United Kingdom, a vital area for our organization’s expansion, and enables us to utilize their influential brand for partnership marketing within the sports betting sector.
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