Better Collective acquires Canada Sports Betting for €21.4m
The super-affiliate described Canada Sports Betting, which offers information about a number of betting operators that accept customers from Canada, as “an established sports betting brand with a solid position in the market by helping their users make informed online betting decisions”.
Better Collective will pay €15.9m up front, plus a contingent deferred payment of up to €5.5m, depending on whether the business achieves certain targets.
The deal comes less than two weeks before Ontario, Canada’s most populous province, opens its sports betting and online gaming market to licensed operators. Brands such as Bet365, FanDuel, PointsBet, theScore, LeoVegas and 888 have already received approval to launch.
Better Collective said the deal showed it was serious about the opportunity presented by the Canadian market, and that it would use CSB alongside existing brands the Action Network and VegasInsider to direct Canadians towards betting and gaming sites.
“The acquisition of CSB underlines Better Collective’s intention to achieve a leading position as an online sports betting media in Canada,” it explained. “This will be enabled by a number of strong product offerings from existing brands, including Action Network and VegasInsider and the newly acquired CSB.
“In the light of this, Better Collective expects the North American market to continue growing with increasing revenue and operational earnings.”
The affiliate group said it expects Canada Sports Betting to generate revenue in excess of €5m in 2022. As a result, the business upped its revenue target for the year, from €75m to €80m.
“I am very happy to include Canada Sports Betting in the Better Collective product portfolio. This acquisition gives us a strong foothold in a Canadian market, which is developing in a very promising direction,” Better Collective chief executive Jesper Søgaard said. “With these new websites and with support from our established North American business, I believe we can develop these assets to become flagship brands within sports betting in Canada.”