A premier sports wagering media conglomerate, Better Collective, has procured the holdings of Canada Sports Betting for €21.4 million (US$23.5 million). This calculated maneuver establishes Better Collective as a leading force within the burgeoning Canadian sector, prompting an upward revision of their yearly fiscal projections.
This procurement coincides with the critical juncture of Ontario’s impending online sports wagering launch on April 4, 2022. Coupled with the expectation of other Canadian provinces following this lead, Better Collective forecasts revenue surpassing €5 million in 2022 from this market alone.
Canada Sports Betting is a reputable resource for sports enthusiasts, providing extensive wagering platform guides, specialized sportsbook evaluations, and valuable bonus and odds juxtapositions.
The acquisition was orchestrated with an initial disbursement of €15.9 million and a postponed cash disbursement of €5.5 million contingent upon the fulfillment of specific benchmarks within three months. To accommodate this and subsequent acquisitions, Better Collective recently obtained a €100 million credit facility augmentation with Nordea.
Jesper Søgaard, Chief Executive Officer of Better Collective, conveyed his zeal, remarking, “This procurement integrates Canada Sports Betting into the Better Collective fold, substantially reinforcing our standing within North America.”
This purchase significantly bolsters our standing within the thriving Canadian market. Leveraging our recently launched online platform and established North American infrastructure, I am certain we can transform these resources into a premier destination for Canadian sports enthusiasts.”
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