In a significant development that has caught the attention of gaming enthusiasts and business investors alike, Better Collective has announced its acquisition of the sports betting brand AceOdds for a staggering €42m ($45.6m). This strategic move not only underscores Better Collective’s ambition to solidify its presence in the UK market but also reflects the company’s broader vision of expanding its global footprint.

Better Collective’s acquisition of AceOdds is a calculated step towards enhancing its brand awareness in the highly competitive UK sports betting market. AceOdds, an established name within this sector, brings with it a loyal user base and a strong market presence. This acquisition is expected to fortify Better Collective’s position in the region, leveraging AceOdds’ reputation and reach.

Conversely, AceOdds stands to benefit from Better Collective’s extensive resources and global network. This partnership aims to propel AceOdds beyond its current geographical confines, opening new avenues for growth and expansion on a global scale.

The agreed-upon price of €42m reflects a 12-month EBITDA multiple of 4x, indicating the substantial value Better Collective sees in this acquisition. This financial commitment is a testament to the potential synergies both companies can unlock together.

In light of this acquisition, Better Collective has taken the opportunity to revise its financial targets for the remainder of 2024. The company’s new revenue target now sits between €395m and €425m, representing a growth rate of 21-30% compared to the previous target of €390m to €420m. Similarly, the updated EBITDA targets have been adjusted to reflect this optimistic outlook.

Over the course of 2023, Better Collective reported an impressive revenue growth rate of 21%, while adjusted EBITDA surged by 31% year-on-year. Despite these positive full-year results, the company faced a 16% decline in EBITDA in the final quarter of 2023. As Q1 2024 results are yet to be released, investors and stakeholders are keenly observing how this recent acquisition will influence Better Collective’s performance.

Senior Director for the UK & Ireland at Better Collective, Ian Bowden, expressed his enthusiasm about the acquisition, stating, “I am thrilled to announce the addition of AceOdds to the Better Collective group. This strategic acquisition brings us a robust owned and operated sports betting media brand in the UK market, poised for global scalability.”

Bowden’s comments highlight the strategic alignment between Better Collective and AceOdds. By integrating AceOdds into its portfolio, Better Collective aims to fill a crucial gap in its sports betting affiliation brands, thereby positioning itself strongly in a pivotal growth market.

For gaming enthusiasts, this acquisition signals a potential enhancement in their betting experience. With Better Collective’s expertise in creating engaging content and tools for bettors, coupled with AceOdds’ established market presence, users can expect improved services and offerings.

For business investors, the acquisition represents a strategic move that could yield significant returns. The increased revenue targets and the potential for global expansion make Better Collective a compelling investment opportunity. The company’s ability to integrate AceOdds seamlessly and leverage its strengths will be a key factor to watch in the coming months.

The acquisition of AceOdds by Better Collective is more than just a financial transaction; it is a strategic maneuver designed to enhance market presence, drive growth, and create value for both companies. As Better Collective sets its sights on higher revenue and EBITDA targets for 2024, this acquisition plays a crucial role in the company’s roadmap.

Gaming enthusiasts can look forward to enriched experiences, while business investors will undoubtedly keep a close eye on how this acquisition unfolds. With AceOdds now part of the Better Collective family, the stage is set for exciting developments in the sports betting industry.

For those looking to stay ahead in the dynamic world of gaming and investments, this acquisition is a clear signal: Better Collective is on a path of strategic growth and innovation. Stay tuned for more updates as we continue to monitor the impact of this acquisition on the gaming industry and beyond.

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