Better Collective Acquires AceOdds in €42 Million Deal
The online wagering contrast hub, Better Collective, has procured AceOdds in a deal worth €42 million. This strategic purchase will bolster Better Collective’s standing in the United Kingdom market, a crucial area for the firm. They aim to broaden AceOdds’ reach beyond the UK as well.
This acquisition has prompted Better Collective to revise their fiscal projections for 2024. They’ve elevated their anticipated earnings to a range of €395 to €425 million, indicating a possible surge of 21% to 30%. Their adjusted EBITDA objectives have also been upwardly revised.
This development follows a robust 2023 for Better Collective, where they witnessed a 21% climb in revenue and a 31% leap in adjusted EBITDA. Nevertheless, their most recent quarter did experience a 16% decline in EBITDA. It is yet to be determined how they will fare in the initial quarter of 2024.
This calculated maneuver allows us to acquire a strong UK sports wagering media outlet. This is significant for Better Collective’s expansion strategy, particularly in such a crucial region. Securing AceOdds aligns flawlessly with our objective of pursuing premier sports media companies. Additionally, it fills a void in our portfolio by incorporating a dominant force in sports betting collaborations.”
