Better Collective Raises 2024 Financial Goals Following AceOdds Acquisition

Better Collective has increased its financial targets for 2024 after acquiring AceOdds.

Better Collective has upped its financial projections for 2024 since it purchased AceOdds for 42 million euros, marking significant growth in its sports betting market footprint.

Details of the Acquisition

• Better Collective bought AceOdds for €42m, with a net cash/debt free basis.
• The payment includes €40m in cash and additional Better Collective shares.
• Share price for the transaction is determined by the average on Nasdaq Copenhagen around the closing date.
• A share buyback scheme will be set up to handle the share-based transaction.

AceOdds, established in 2008, offers sports betting tools and services in the UK and is prepared to expand worldwide.

New financial goals after the company takeover.

Better Collective has set its 2024 revenue goal at €395 million to €425 million. The company also expects its EBITDA to rise to between €130 million and €140 million after having a strong financial year in 2023, where it made €327 million in revenue, more than what was predicted.

The Strategic Fit

Better Collective has bought AceOdds because it fits well with its other businesses. This purchase is important because it helps Better Collective grow in the sports betting market. AceOdds is attractive because it's consistently making money, has a good number of users through its popular app, and this will help Better Collective do a better job of targeting ads on its AdVantage platform.

We are putting money back into improving our product and making it better for users.

AceOdds made about €10 million from its operations last year. The parent company, Better Collective, intends to use some of that money to improve their products and make the experience better for their users. They want to provide more value to both customers and partners.

By buying AceOdds, Better Collective has added new offerings to its collection and can now use more data to improve the way it advertises and finds the right customers.