A major entity in the sports wagering partnership realm, Better Collective, recently procured the burgeoning contender AceOdds for a substantial sum of €42 million (roughly $45.6 million in equivalent currency). This calculated maneuver is already generating waves within the sector, and Better Collective is swiftly leveraging this momentum. They’ve elevated their fiscal forecasts for 2024, targeting revenue within the range of €395 million to €425 million. This signifies a significant upswing of 21% to 30% from their initial projections – a testament to their strong belief.
AceOdds has successfully established a notable presence within the United Kingdom market, and Better Collective perceives this as a prime chance to bolster their own standing there. However, their aspirations extend beyond the UK; they envision a global trajectory for AceOdds. This acquisition, valued at a robust fourfold multiple of AceOdds’ EBITDA over the preceding year, underscores Better Collective’s conviction in the brand’s capabilities.
This development follows a robust performance by Better Collective in 2023, marked by a 21% surge in revenue and a 31% increase in adjusted EBITDA. Although their final quarter of 2023 witnessed a marginal decline in EBITDA, the overall outlook remains remarkably optimistic. It is evident that Better Collective is employing a long-term strategy, and with such strategic acquisitions, they are well-placed to emerge as a leading force within the global sports betting affiliate domain.
This calculated maneuver allows us to acquire a dominant sports wagering media entity in the United Kingdom, providing an exceptional springboard for international supremacy. Integrating AceOdds aligns seamlessly with our blueprint of securing premier sports media companies. This victory addresses a void in our portfolio by granting us a powerhouse affiliate presence in a vital expansion territory. We are referencing a market that is absolutely critical for Better Collective’s growth trajectory.