Just after finalizing its acquisition of Playmaker Capital, Better Collective published its unaudited full-year report. The company said that 2023 was a very strong year and that the results exceeded its guidance.

According to the company’s announcement, its full-year revenues reached EUR 327 million ($352.5 million), which represents a 21% year-on-year growth. EBITDA, on the other hand, increased by 31% to EUR 111 million ($119.7 million). The latter figure was within the high end of Better Collective’s guidance, while revenue exceeded previous estimates.

In addition, Better Collective reported net debt to EBITDA before special items below 2.0, in line with its target.

The digital sports media group described 2023 as a very strong year as it allowed it to surpass its financial targets. Throughout the year, the company had to update its guidance two times thanks to strong operational performance and accretive acquisitions.

For reference, Better Collective’s first guidance was set out at the beginning of the year and targeted revenues of between EUR 290 and 300 million, as well as EBITDA range of EUR 90-100 million. However, the company had to update the guidance, eventually targeting revenues of EUR 315-325 million and EBITDA of 105-115 million.

Better Collective concluded that its official Q4 and FY 2023 report will go live on February 21, after market close.

Better Collective Seeks to Dominate the Affiliate Market

Better Collective is ambitious to become the leading digital sports media group. The company’s goal is to engage fans and foster passionate communities all over the world.

Better Collective is also bullish on promoting gambling in a safe and responsible way, as demonstrated by its participation in the Responsible Gambling Affiliate Association (RGAA), a body that was founded last year to help affiliate companies serve the online gambling market responsibly.

Other RGAA members include Catena Media, Gambling.com, Oddschecker Global Media, Spotlight Sports Group and XLMedia.

As mentioned, in 2023, Better Collective signed a definitive deal to acquire Playmaker Capital, another leading digital sports group. The acquisition, which was just completed, reinforced the former company’s position as a leading affiliate, allowing it to further develop its business.

In addition, Better Collective expects financial synergies between the two companies to have a beneficial effect on Better Collective’s business. Because of that, the company updated its long-term financial targets following the conclusion of the deal.

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Better Collective announced that it has completed the acquisition of Playmaker Capital, a Toronto-based digital sports media group. This is notably Better Collective’s second-largest acquisition to date.

The deal saw Better Collective acquire all of Playmaker Capital’s issued shares for a consideration of CAD 0.70 per share. Better Collective covered this deal both in cash and Better Collective shares.

Following the completion, Playmaker Capital’s common shares are set to be delisted from the TSX Venture Exchange. In addition, the acquired company will apply to cease to be a reporting issuer.

Speaking of shares, Better Collective’s board decided to increase the company’s share capital with nominally EUR 17,554.29. As a result, a total of 1,755,429 new ordinary shares with a nominal value of EUR 0.01 have been issued.

Playmaker Capital will be consolidated into Better Collective’s financials as of February 6. Furthermore, Better Collective updated its 2027 long-term financial targets.

Better Collective Updates Financial Targets

The acquisition deal prompted Better Collective to revisit its 2027 long-term financial targets. According to the company’s report, its revised targets include a revenue CAGR of +20% and net debt to EBITDA below 3x.

While the aforementioned metrics remain unchanged, the acquisition of Playmaker Capital increased Better Collective’s confidence in reaching the revenue CAGR target.

In addition, Better Collective updated its EBITDA margin before special items guidance from 30-40% to 35-40%.

Executives Are Excited about the Deal’s Completion

Better Collective’s co-founder and chief executive officer, Jesper Søgaard, commented on the completed deal. He said that this is an important step towards Better Collective’s vision of becoming “the leading digital sports media group.

I look forward to welcoming the entire Playmaker team and its leading sports media brands to the Better Collective group and to realize the many synergies that lie ahead for our business.

Jesper Søgaard, co-founder & CEO, Better Collective

In the meantime, Jordan Gnat, Playmaker Capital’s co-founder and CEO, said that the deal signifies the start of the next phase of his company’s journey. He thanked the Better Collective team for the incredible confidence they have in what Playmaker Capital has to offer.

I would also like to thank all the Playmaker shareholders for their support of Playmaker and look forward to their continued support of Better Collective as together we become the leading digital sports media group.

Jordan Gnat, co-founder & CEO, Playmaker Capital

Better Collective’s business has been going from strength to strength, as demonstrated by the group’s strong financial results. With Playmaker Capital under its wing, the company remains bullish on meeting its long-term targets.

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The leading digital sports media group that owns national and international sports media, Better Collective, has published its interim report for Q3. The company reported “continued strong performance across the group”, as explained by the chief executive officer and co-founder, Jesper Søgaard.

Transition Into Recurring Revenue, “Faster Than Expected”

The group’s CEO also took the opportunity to express his pleasure in seeing that the transition into recurring revenue with their partners in North America was “moving faster than expected, which will provide strong value in the long run.”

The CEO further explained that, throughout Q3, the group kept growing globally by acquiring top national sports media across four different markets while also mentioning the “transformational” acquisition of Playmaker Capital toward the end of the quarter. 

The acquisition is expected to help the company speed up its journey toward turning into the leading digital sports media group even more, especially with the help of the team’s strong strategy execution. 

In August, Better Collective announced it would acquire multiple brands from Everysport Group (SvenskaFans.com, Hockeysverige.se, FotballDirect, and Innebandy Magazinet) via a multi-million-dollar deal assessed at €3.7 million ($4 million). 

16% Organic Growth, 35% EBITDA Growth

The Nasdaq Stockholm-listed group with headquarters in Copenhagen, Denmark, has reported a revenue increase of 26%, from €60 million ($65 million) in Q3 2022 to €75 million ($81.5 million) in Q3 2022. The company reported an organic growth of 16%. 

Better Collective also reported a recurring revenue of 46 million ($50 million), marking a 49% increase compared to the same quarter in 2022 and making up 61% of total revenue.

The group’s EBITDA prior to special items was €20 million ($21.7 million), signaling a 35% increase compared to Q3 2022’s €15 million ($16 million). The EBITDA margin prior to special items was 26%.

The group’s cash flow from operations before special items reached €14 million ($15 million), from €13 million ($14 million) in the third quarter of last. The group also reported a 63% cash conversion.

Before it reached the end of the quarter, the company whose portfolio includes HLTV.org, Action Network, VegasInsider.com, Playmaker HQ, and FUTBIN.com reached €123 million ($133 million) in capital reserves, with €41 million ($44.5 million) in cash, €10 million ($10.8 million) in other current financial assets, and €72 million ($78 million) in unused credit facilities.

The group’s first official day of trading on the Nasdaq Copenhagen stock exchange is November 17, 2023.

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Better Collective, a Nasdaq Stockholm-listed company, unveiled its plans for a second listing. As announced by the company, it plans to also list its shares on Nasdaq Copenhagen.

Providing a few insights into its intentions, Better Collective informed the public that the second listing would, if approved, occur during the final quarter of the year.

Better Collective noted that the dual listing is subject to the publication of an exemption document by the company, approval by Nasdaq Copenhagen, fulfillment of certain conditions and other market conditions.

The company also noted that no offering of shares will be carried out in relation to the dual listing. The total number of company shares will remain unaffected by the listing, Better Collective added.

A Natural Next Step

Representatives addressed the announcement, elaborating on the company’s intentions. Better Collective’s co-founder and chief executive officer, Jesper Søgaard, said that the dual listing in Denmark is “a natural next step” for the Danish-incorporated company.

Søgaard noted that Better Collective has been steadily growing since the Swedish IPO in 2018, generating a lot of shareholder value. At the same time, the company continues its efforts to become a leading digital sports media group.

Combined with the fact that we experience an increased interest in our company from both current and potential institutional investors in Denmark, we believe now is the right time to dual list in Denmark.

Jesper Søgaard, co-founder & CEO, Better Collective

Jens Bager, the company’s board chairman, also commented on the matter, also remarking on Better Collective’s recent growth. According to him, the company is in a stronger position than ever before.

The listing in Sweden five years ago contributed a lot to Better Collective’s journey to becoming the leading digital sports media group. The dual listing in Denmark where Better Collective is headquartered is the logical development.

The entire management team led by the founders of the company has managed to build a resilient business and not least a strong organization that will enable Better Collective to further elevate its footprint within the digital sports media world.

Jens Bager, chair, Better Collective

Bager concluded that the company hopes to attract the interest of notable Danish investors.

In other news, Better Collective recently decided to acquire Tipsbladet.dk in a $6.9 million deal.

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The leading digital sports media group, Better Collective, announced a new strategic acquisition, allowing it to strengthen its position within the South American region. The company confirmed details regarding the acquisition of Torcedores.com, a leading national Brazilian sports media platform. Expanding into the South American region marks a strategic move for Better Collective, considering the significant potential of the markets in the region. Thanks to the acquisition, the company will significantly expand its presence in Brazil.

The announcement comes after Better Collective confirmed its intention to invest further into the market and move into a new office located in Rio de Janeiro. The latest acquisition comes after last month, the company agreed to acquire multiple brands in Sweden, another strategic market. Bolstering its presence in Sweden, Better Collective agreed to acquire a handful of brands from Everysport Group in a deal with a price tag of €3.7 million ($4 million). This marked an important move for the company as it sought to expand its footprint on the Old Continent.

Now the acquisition of Torcedores.com further complements Better’s ongoing global expansion. By taking over the leading Brazilian sports media platform, the company anticipates reaching new customers and accessing some of the most passionate audiences around the globe. It’s no surprise that Brazilian sports fans are particularly fond of soccer, but other sports such as tennis, volleyball, basketball and even esports also enjoy strong popularity in the region.

Acquisition to Strengthen Better’s Presence in the Region

Over the last year, Torcedores.com has seen significant growth in Brazil, attracting more than 12 million sports fans on average per month. The leading sports media platform has a strong presence in the social media vertical, with a diverse following on TikTok, Twitter/X, Instagram, as well as YouTube. The platform reaches millions of passionate sports fans, delivering unique sports-focused content.

By taking over Torcedores.com, Better Collective will leverage its diverse tools and extensive experience to benefit from new revenue streams. This will be required as Torcedores.com has so far been monetizing through traditional advertising.

“To build a leading position, localization and strong media brands are key ingredients – acquiring Torcedores.com fits perfectly into that strategy.“

Simon Hovmand-Stilling, CEO of Better Collective South America

Simon Hovmand-Stilling, the CEO of Better Collective South America, said that the company is excited to see Torcedores.com become its first sports media brand for Brazil. He added: “The sports brand complements our strategic position in the region and will expand our reach and sports content production – which in turn will make us even more relevant to our partners.” Finally, Hovmand-Stilling highlighted the company’s plans to become a leading digital sports media group for the region, acknowledging that the acquisition complements this plan.

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Digital sports media group Better Collective has acquired Skycon Limited, a British global display advertising company, in a $57 million deal (converted to USD). The new acquisition will help the former company cement its leading position in sports media, helping it improve its advertising efforts.

Skycon Limited was founded in 2017 and is a Newcastle-under-Lyme-based company that specializes in display advertising. What sets Skycon apart from other brands is its audience-based approach to advertising.

As agreed, $31 million will be paid upfront, with up to $25 million to be paid in earn-outs. Better Collective said that the new acquisition will greatly complement its existing Paid Media approach with a “search engine-based” approach. The deal will therefore expand Paid Media’s addressable market and further increase the value it brings to Better Collective clients.

Upon announcing its plans to integrate Skycon Limited into Paid Media, the sports media group also noted that it plans to boost the advertiser’s growth with cross-selling synergies. At the same time, Better Collective will improve its own operational synergies.

Better Collective noted that Skycon has worked with only one sportsbook, which will change following the acquisition. In addition, the digital media group will expand its newly-acquired subsidiary’s geographical scope in key markets such as the US. It was also noted that Skycon will be used on the AdTech platform that Better Collective is in the process of building.

Better Collective Improved Its Financial Targets

Following the new deal, Better Collective updated its financial targets for the year. With Skycon Limited consolidated into the group, Better Collective expects revenue of $335.5-346.5 million (previously $319-$330 million).

The latter company also forecasts EBITDA before special items of $104.5-$115.5 million. For the moment, Better Collective does not predict a net debt to EBITDA change.

Better Collective’s co-founder and chief executive officer, Jesper Søgaard, commented on the new acquisition. He noted that his company has invested a lot in growing its Paid Media division to its current scale. At the same time, the CEO noted, the company also invested in moving revenues to recurring revenue share contracts.

During the past year, our efforts have proven successful and acquiring Skycon will be highly synergistic to this journey. Skycon is a great business, which is built on Better Collective’s favored revenue share model.

Jesper Søgaard, co-founder & CEO, Better Collective

Søgaard called Skycon a “perfect fit” for Better Collective and said that he sees a clear path for further growing the asset and scaling it across more of its business partners in many markets.

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Sports betting media group Better Collective announced today it has entered into a content and commercial media partnership with a prominent digital media publisher in Nigeria, PUNCH Nigeria Limited.

A Continent of Sports Betting Enthusiasts

The new content partnership Better Collective signed with PUNCH represents the group’s first step in Africa where the population of sports betting enthusiasts is continually growing, and presenting new growth opportunities for the group.

Commenting on the important development, Jesper Søgaard, co-founder and chief executive officer of Better Collective, said how proud everyone at the group feels to partner with “a well-established news media like PUNCH.”

Not only will we be partnering with Nigeria’s market leader but this partnership also allows us to establish a presence on the African continent.

Jesper Søgaard, co-founder & CEO, Better Collective

As Nigeria’s leading news media group, PUNCH publishes and distributes media content via websites, videos, podcasts and social media channels, and the partnership allows Better Collective to run a sports betting section on PUNCH’s digital platform and Punchng.com, the country’s number one website.

Managing director and editor-in-chief of PUNCH, Adeyeye Joseph, also commented on the agreement, expressing his excitement at the opportunity to partner with a sports media business such as Better Collective.

“We are excited to work with a passionate technology-driven partner like Better Collective,” he said, hoping that the collaboration “will help PUNCH to serve Nigeria’s growing sports betting community with high-quality content while also helping [the] company to further its audience and revenue goals.”

Running a Sports Betting Section on PUNCH

Throughout the contract, Better Collective will leverage its innovative technology and expertise in content creation to run a commercial sports betting section with high-quality English content for PUNCH readers.

Better Collective’s section on PUNCH is expected to help the Nigerian media’s readers to make informed decisions and navigate the different aspects of the rapidly growing world of digital sports entertainment.

Seeking to inform, educate and entertain via the content it creates, PUNCH, one of the oldest and most respected news sources in the country, aligns with the values and mission of Better Collective to educate sports fans and make the sports entertainment industry more engaging and fun.

The agreement with PUNCH is the first agreement of the sports betting media group in Africa. While serving primarily the Nigerian market, PUNCH’s presence extends to other parts of Africa and audiences in Europe, North America and Asia.

Last month, Better Collective released its interim Q4 2022 report posting growth in revenue and EBITDA of 63% and 115%, respectively, year-over-year.

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