Better Collective has completed the acquisition of online gambling information website MyBettingSites.co.uk in a deal worth up to £2.2m (€2.4m/$2.7m).
Under the deal, Better Collective will pay £1.5m in cash and issue shares worth £350,000 no later than September 16, 2019 to take control fo MyBettingSites.co.uk's parent company. An additional £350,000 will be paid in 2020 and 2021, pending certain agreed performance criteria.
Founded in 2015, MyBettingSites.co.uk lists a wide range of UK-facing casino and sports betting websites, along with the various offers that each site is running.
Ian Bowden, the founder and chief executive of MyBettingSites.co.uk, will remain with the business and join the Better Collective team.
Better Collective chief executive Jesper Søgaard said the acquisition would help to strengthen the affiliate marketing giant’s position in the UK market, as well as add local SEO knowledge that can be leveraged on products across the group.
“The acquisition is not large; however, it fits all our key criteria for integration into the Better Collective group, and the founder, Mr. Bowden, adds significant competences within UK sports betting, that we believe we can utilise across other assets,” Søgaard explained.
Bowden added: “The site has become one of the leading sources of educational betting content for UK players, and Better Collective's goal of making gaming both transparent and entertaining aligns to our own values. I look forward to leveraging the group capabilities and working across multiple products.”
In 2018, MyBettingSites.co.uk generated approximately £440,000 in revenue, as well as earnings before interest, tax, depreciation and amortisation of £300,000.
Deal comes after Stockholm-listed Better Collective last month reported a significant year-on-year rise in both revenue and operating profit for the first half of the year, as it benefitted from the impact of acquisitions in the period.
Total revenue for the six months through to June 30, 2019 amounted to €30.7m, up 79% on €17.2m last year. This was largely driven by newly-acquired assets, with organic growth accounting for 28% of the increase.
In particular the €30m acquisition of Ribacka Group, agreed in December 2018, helped Better Collective buck the downward trend reported by many other operators and suppliers in the Swedish market.
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