Gambling.com Group agrees to acquire RotoWire for $27.5m
The deal is expected to be closed in January subject to customary closing conditions.
US.- The affiliate and media firm Gambling.com Group has entered into a definitive agreement to acquire fantasy sports news and advice provider Roto Sports, operator of RotoWire.com, for $27.5m. Gambling.com is to pay $20m at closing, $15m in cash, and $5m in newly issued unregistered ordinary shares. It will pay a further $2.5m and $5m respectively on the first and second anniversaries of the closing.
Subject to customary closing conditions, the closing of the deal is expected in early January 2022. The purchase will expand Gambling.com Group’s presence in the US.
Charles Gillespie, CEO of Gambling.com Group, said: “Over the past 25 years, Peter and the RotoWire team have produced some of the best fantasy sports content in America and have in turn embedded their business into the heart of the experience of American sports.
“Commercially, the RotoWire business has three different revenue streams, each generating over $1m per year, which give it significant reach into sports media organisations as well as with advertisers and individual sports fans.”
Peter Schoenke, president of RotoWire, added: “The United States is entering a whole new world of sports fandom and combining forces with Gambling.com Group will accelerate RotoWire’s growth. Gambling.com Group’s resources and experience will help RotoWire rapidly advance its sports betting offerings to take full advantage of this new era.”
