SBC News Voice of the Sports Betting Industry
Better Collective A/S inches closer to concluding its acquisition of Playmaker Capital, as the shareholders of TSX-listed sports media group overwhelmingly support the €176m buyout.
As disclosed to the Toronto TSX and Copenhagen Børsen, Better Collective has secured investor approval of 99.9% to proceed with its €176m acquisition of Playmaker, first announced on 6 November 2023.
In a deal comprising 35% cash and 65% shares, Better Collective will execute its second-largest M&A transaction, acquiring Playmaker’s media assets for North and South America.
Better Collective will enlarge its North American media network by adding new assets such as YardBarker and The Nation Network. This enhances its market-leading portfolio, which includes the Action Network, VegasInsider, and Playmaker HQ.
Of strategic importance, the deal will provide Better Collective with a new foundation for growth in South American markets, securing Playmaker’s FutbolSites‘ network of online, social media, video, and podcasts. FutbolSites is recognized as the largest fan-favorite sports community in South America, boasting over 180 million visitors each month.
Replicating its success in Europe and North America, Better Collective has stated its goal to create the dominant media network for South American betting and gaming audiences.
Post-acquisition, Better Collective will revise its long-term financial targets for 2023 to 2027, and will move to revamp Playmaker’s media assets with its proprietary systems to improve audience and advertising engagement.
As it stands, Playmaker’s acquisition remains subject to approval from the Ontario Superior Court of Justice and the Canadian Minister of Heritage, among other conditions. It’s anticipated to close in early February 2024.
Better Collective will announce its full-year 2023 trading results on Tuesday, 21 February 2024.
