Copenhagen-based sports betting company Better Collective A/S is closer to acquiring Toronto TSX-listed Playmaker Capital, part of a strategy to build its media network across North and South America. It will pay €176 million (US$191.28 million) in the deal.
As reported by SBC News, the company’s second-largest M&A transaction will give it control of sports portals including FutbolSites, Yardbarker and the Nation Network, sites that attract more than “200 million monthly visits from the Americas.” FutbolSites alone draws more than 180 million visitors a month, and is South America’s largest sports community.
The company told investors the deal could make Better Collective “the market leader in South America, with the largest audience across its sports media brands.” It will also “strengthen its leading position in North America.”
Playmaker will become a wholly-owned subsidiary of Better Collective, said CEO and co-founder Jesper Søgaard. “Acquiring Playmaker Capital is in many ways transformational for Better Collective and will be an important milestone in our journey towards becoming the leading digital sports media group,” he said.
“For years, Playmaker Capital has built incredibly strong sports media brands and has engaged sports fans across the Americas with high-quality content, cultivating a loyal and dedicated following. The skilled team behind Playmaker Capital brings a unique set of media competencies that will enhance our organization. To say I am excited to welcome the new team to the Better Collective group is an understatement.”
Jordan Gnat, co-founder and CEO of Playmaker Capital said the acquisition will “take the company to the next level.”
“I could not be more excited for the Playmaker family to join the Better Collective family,” Gnat said. “Their success is undeniable and their vision to become the leading digital sports media group aligns perfectly with ours. The cultures of our companies are very similar, and I foresee the integration and synergies being incredibly accretive to shareholders.”
