Better Collective Acquires AceOdds for €42 Million, Updates 2024 Financial Targets!

This strategic move is aimed at strengthening Better Collective’s presence in the UK market and expanding AceOdds’ reach globally. The acquisition price reflects a previous 12-month EBITDA multiple of 4x.

In light of this acquisition, Better Collective has updated its financial targets for 2024. The company now aims for a revenue target between €395 million and €425 million, representing a 21-30% increase from the previous target range of €390 million to €420 million. The EBITDA targets have been similarly adjusted.

Better Collective experienced a 21% revenue growth and a 31% increase in adjusted EBITDA year-on-year in 2023. However, the company faced a 16% decline in EBITDA during the final quarter of 2023. The Q1 2024 results are still pending.

Ian Bowden, Senior Director for the UK & Ireland at Better Collective, expressed his enthusiasm for the acquisition, stating, “I am thrilled to announce the addition of AceOdds to the Better Collective group. This strategic acquisition brings us a robust owned and operated sports betting media brand in the UK market, poised for global scalability. Aligned perfectly with Better Collective’s overarching strategy of acquiring leading sports media brands across various niches, the AceOdds brand fills a crucial gap by offering a vital sports betting affiliation brand in a pivotal growth market for the Better Collective group.”

The acquisition of AceOdds marks a significant step for Better Collective in solidifying its market position in the UK and enhancing its portfolio with a well-established sports betting media brand. The integration of AceOdds is expected to contribute significantly to Better Collective’s overall growth and expansion strategy, reinforcing its leadership in the affiliate marketing industry.