Sep12
Kentucky Launches Regulated Sports Betting Market with a Bang
Better Collective Acquires Assets of Two Florida Sports Betting Websites, Bolsters US Portfolio
July 24, 2019 Andrej Vidovic
US operator, Better Collective, has publicly announced it has purchased the assets of two Florida-based sports betting sites, Vegas Insider and Scores and Odds. The acquisition of both has been finalized for a price of $20 million in cash.
This is the second deal of this kind for the company that already purchased Rotogrinder Network for $21 million. This particular acquisition has been completed in May.
Over Forty Years of Combined Experience!
Both websites are well-established brands in their own respect…
…namely, Vegas Insider has a track record that exceeds 20 years during which they provide stats, -generated picks and content to its audience. Scores and Odds, also a website with a long-standing tradition, was founded in 1997. It mostly offers odds comparisons and other sports data.
Jesper Søgaard, Better Collective’s co-founder and CEO, remarked:
“With the acquisition of the two mega-brands, VegasInsider.com and ScoresAndOdds.com, Better Collective is paving the way to expand the position as the market leading sports betting information company to include the US .”
Change of Operating Models
Better Collective executives have decided that both brands will be shifting towards an marketing model…
…as opposed to their current business status in which they operated on a business model based on the sale of betting tips and brand advertising. Both websites attracted well over 15 million unique visits per month during the NFL 2018/2019 season.
This specific alteration of how things operate means that both sites’ key objective will be to send traffic to licensed operators from the third quarter onwards, while the entire overhaul should be completed sometime during 2020’s H2.
Expect Shrinking Profits
Better Collective has been frank about the expectations for the coming period…
…and itted that revenue and earnings from Vegas Insider and Scores and Odds may be temporarily reduced, due to the transitional nature of the period ahead. A slight increase in revenue is expected for the remainder of 2019, however there will most likely be no profit during this time.
However, from the second half of 2020, both websites are projected to contribute with substantial revenue.
Future Gold Mine
Speaking about future moves, Søgaard says:
“These two web portals have the potential to become the largest revenue generating assets within Better Collective within the coming years. Furthermore, they have significant synergy effects with our other US-facing assets, not least with our recent acquisition of the Rotogrinders Network.
I am confident that we, by way of these acquisitions, have put Better Collective in pole position for a market leading position in the US states where online sports betting will be regulated and available.”
Source:
“Better Collective strengthens US portfolio with two acquisitions”, igbnorthamerica.com, July 23, 2019.
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That seems like a valid projection. I like it when businesses are realistic and know that there will have to be a period of loss before money starts pouring in.