Regulatory Release 21/2019 Better Collective has, through a wholly-owned US subsidiary, completed the acquisition of the assets of Florida based Vegasinsider.com and Scoresandodds.com for a total transaction price of 20 million USD to be paid in ...
Regulatory Release 21/2019
Better Collective has, through a wholly-owned US subsidiary, completed the acquisition of the assets of Florida based Vegasinsider.com and Scoresandodds.com for a total transaction price of 20 million USD to be paid in cash.
Better Collective, the world’s leading sports betting affiliate, has acquired two of the leading sports betting websites in the United States (US). The brands have been market leading within sports betting information for more than 20 years and are expected to become market leading affiliate websites in those states where online sports betting is available. During the National Football League (NFL) 2018/2019 season, the two websites generated more than 15 million unique visits per month.
Changing the business model
With the aim of empowering sports bettors worldwide, Better Collective is adding the two websites to its portfolio of sites to educate and entertain users in the US as various states are beginning to regulate online sports betting. The business model that has been applied by the websites so far is based on user subscriptions, sale of picks (tips) and brand advertising. Following Better Collective’s acquisition, the business model will be changed towards affiliate marketing within sports betting (lead generation).
Better Collective will make a technical and commercial overhaul of the websites in order to facilitate regulated affiliate marketing and related revenue from the states that allow online sports betting. The two websites are expected to send traffic to licensed operators from Q3 2019, and the technical/commercial overhaul is expected to be complete during H2 2020.
During the transitional period of the websites, revenue and earnings from the websites will be temporarily reduced. For the remainder of 2019, it is expected that the Better Collective group will realise a slight increase in revenue, however, no profit is expected from the websites in that period. The websites are expected to contribute with substantial revenue and earnings from H2 2020.
Better Collective is one of only a few affiliate marketing companies presently authorized to enter into revenue share relationships in the State of New Jersey.
Market leading websites
VegasInsider.com was founded more than 20 years ago with a clear focus on providing the best picks and insights for the US based sports audience. Through statistics, user generated picks, content as well as quality articles, the site has attracted a large and loyal audience that purchases quality picks through subscriptions as well as daily purchases. Better Collective expects that revenues from subscriptions and the sale of picks can be grown going forward. The subscription model differs from Better Collective’s free information model applied in Europe and is seen as an important future revenue driver in the US market. However, the main business component going forward will be affiliate marketing towards sports betting.
ScoresAndOdds.com dates back to 1997 and has established a strong position as a market leading odds comparison and sport statistics website in the US. The site has recently undergone a design and partial technical update, and will also be revamped to focus on revenue from affiliate marketing towards sports betting.
To operate the newly acquired websites, Better Collective has through a wholly-owned subsidiary recruited 10 employees in Florida, working out of Fort Lauderdale. Better Collective Florida will work closely with Better Collective’s existing entities in Nashville, Tennessee and New York. The existing entities will facilitate a rapid transition into the new revenue model, as well as utilising the experience within Rotogrinders with subscription business to optimize the user experience within subscriptions and pick sales.
The acquisition of VegasInsider.com and ScoresAndOdds.com has been conducted as an asset purchase of the domains and related databases by Better Collective Florida, LLC, which is a wholly-owned subsidiary of Better Collective USA Inc.
The transaction has been conducted in continuous dialogue with the New Jersey Division of Gaming Enforcement, and the transaction has been reviewed with the purpose of Better Collective utilising the sites under the licensing regime in New Jersey.
The total purchase price is 20 million USD which will be paid in cash.
Better Collective CEO, Jesper Søgaard
“With the acquisition of the two mega-brands, VegasInsider.com and ScoresAndOdds.com, Better Collective is paving the way to expand the position as the market leading sports betting information company to include the US. These two webportals have the potential to become the largest revenue generating assets within Better Collective within the coming years. Furthermore, they have significant synergy effects with our other US-facing assets, not least with our recent acquisition of the Rotogrinders Network. I am confident that we, by way of these acquisitions, have put Better Collective in pole position for a market leading position in the US states where online sports betting will be regulated and available”, says Jesper Søgaard, CEO and co-founder.
CEO: Jesper Søgaard
CFO: Flemming Pedersen
Investor Relations: Christina Bastius Thomsen +45 2363 8844
This information is such information as Better Collective A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8:00 a.m CEST on July 23, 2019.
About Better Collective
Better Collective’s vision is to empower iGamers through transparency and technology – this is what has made them the world’s leading developer of digital platforms for betting tips, bookmaker information and iGaming communities. Better Collective’s portfolio includes more than 2,000+ websites and products, among other bettingexpert.com, the trusted home of tips from expert tipsters and in depth betting theory. Better Collective is headquartered in Copenhagen, Denmark, and listed on Nasdaq Stockholm (BETCO).
Source(s) : Better Collective A/S
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