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Better Collective (STO: BETCO) Expands in North America with Acquisition of Playmaker Capital (TSX-V: PMKR) for $188 Million
By: November 7, 2023, 08:55h.

Danish betting analytics provider Better Collective (STO: BETCO) has recently announced the acquisition of Toronto-based Playmaker Capital (TSX-V: PMKR) for $188 million in cash and stock. This move aims to further enhance the company’s North American presence.

The transaction will be funded in 65% equity, including the issuance of new shares, and 35% in cash. This marks Better Collective’s second acquisition, following the $240 million cash/stock purchase of The Action Network two and a half years ago.

Playmaker Capital is a prominent digital sports media group with a strong portfolio of sports media brands throughout the Americas. Following the completion of the deal, Playmaker Capital will become a wholly owned subsidiary of Better Collective.

The acquisition is subject to legal and regulatory approvals as well as approval by Playmaker investors, with the transaction scheduled to close in the first quarter of the following year. Two of Playmaker’s largest investors, Relay Ventures and JPG Investments Inc., control 24% of the outstanding equity in the firm.

The acquisition of Playmaker Capital is seen as transformational for Better Collective, as it represents a key milestone in the company’s journey towards becoming the leading digital sports media group.

The deal also provides Better Collective with entry into the potentially lucrative South American sports wagering market through Playmaker Capital’s ownership of Futbol Sites. This strategic move could position the company to capture opportunities in vibrant sports wagering markets such as Colombia, Peru, and potentially Brazil.

Upon closing of the acquisition, Better Collective anticipates significant audience growth and expansion across various social media platforms, reaching a larger segment of generalist sports fans. This expansion is expected to align with the company’s goal of becoming the dominant player in the digital sports media space.

In conclusion, the acquisition of Playmaker Capital signals the continued appetite for mergers and acquisitions within the sports media and betting intersection, and it positions Better Collective for substantial growth and success in the North and South American markets.

By admin

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