Better Collective expands Dutch presence with two acquisitions
The sports betting affiliate media group is to buy the brands in two separate transactions for a total of up to €9.7m. This includes €5.9m in upfront payments, with maximum deferred and earnout payments of €3.75m. The two sites attract around 2.5 million monthly visitors.
The group said the financial impact of its Better Collective Netherlands division is expected to be limited due to the time of incorporation and the time needed for the new market to establish itself. However, it expects to generate revenue of more than €3m in 2022, with “high growth for several years” as the market matures.
Better Collective said the group will benefit from the addition of experienced teams from Soccernews.nl, one of the most visited Dutch online sports media, and Voetbalwedden.net, a well-established Dutch online sports betting community. Both brands will work under Joris Dekkers, who was recently appointed managing director of Better Collective Netherlands.
Jesper Søgaard, co-founder and chief executive of Better Collective, said: “We are excited about the regulatory opening of the Dutch iGaming market, welcoming licensed operators and laying the foundation for stronger player protection. The Dutch market has high potential and is expected to grow significantly in the coming years.
“To be able to capitalise on these opportunities, we are pleased to have added two strong Dutch brands to our portfolio and welcomed Joris Dekkers and a new team to Better Collective. These moves will help us establish a leading position in the Dutch sports betting media landscape.”
Earlier this year, Better Collective closed its $240m acquisition of the Action Network, which has commercial partnerships with US sportsbooks such as BetMGM, DraftKings, FanDuel and PointsBet. Better Collective said Action is expected to report revenue of approximately $40.0m for its 2021 fiscal year.
In May, Better Collective closed a directed share issue worth €147.9m to provide the flexibility to help it continue to pursue acquisitions.