Better Collective acquires Playmaker HQ
The sports betting affiliate media group has acquired the American sports media company for $54m.
US.- The sports betting affiliate media group Better Collective has acquired American sports media company Playmaker HQ for $54m. The sale will consist of $15m in cash upfront, $1m in deferred payments and up to $38m in performance-based earnout payments over a three-year period.
To reach the full earn-out payments, Playmaker HQ will have to generate more than $75m in accumulating revenues and over $25m in earnings before interest, tax, depreciation and amortization (EBITDA) during the first three years post-acquisition.
Better Collective North America CEO Marc Pedersen said: “We have been following Playmaker HQ for some time and are excited to announce the transaction today. Playmaker HQ offers access to millions of sports fans in the US, the majority of which are new in the Better Collective user base. We are excited to help enhance these fans’ sports betting experience, while also being able to utilize Playmaker HQ’s know-how to scale the product and revenue stream across Better Collective’s global portfolio.”
Playmaker HQ CEO Brandon Harris added: “Joining forces with Better Collective marks a significant milestone for Playmaker HQ. We cannot wait to make plays with Better Collective’s world-class team who will help us create amazing content, experiences and opportunities, reaching an even wider audience of sports fans globally.
“I know our creators are going to do amazing things with the support of Better Collective’s team and resources. We are just scratching the surface, and we are so excited to align with Better Collective to help achieve our vision of building the world’s leading sports media group.”
In March, Better Collective announced it was set to launch its sports media brands in the US state of Massachusetts. Better Collective said it was excited to enter the state and has a mutual commitment it shares with the Massachusetts Gaming Committee (MGC) to ensure safer gaming, player education, and consumer protection.
Last year, Better Collective signed a commercial partnership with regional news website Boston.com to deliver sports betting content for the website’s sports news portal. The firm provides the Boston Globe-owned organisation with betting odds, tips, analysis, and direct links to sports betting platforms.
