Latest News
Better Collective completes acquisition of remaining shareholding in RotoGrinders Network
Driven by significant potential synergy upside and strong US business growth, Better Collective, a leading global sports betting media group, has decided to complete the acquisition of the remaining 40% share stake in the US based RotoGrinders Network at a total price of 33 mEUR. Better Collective acquired its original 60% share stake in Rotogrinders Network in 2019.
The Transaction
The acquisition of the remaining 40% of the shares will be paid through a 22 mEUR cash consideration and the remaining part in shares or cash. Both components will be transferred no later than December 31, 2021. This brings the expected transaction price for 100% of the shares in RotoGrinders Network to a total of 51 mEUR, equivalent to 7.5x the expected 2021 EBITDA. The purchase price of the remaining shares is dependent on financial performance in 2021 and the final price will be adjusted accordingly once financial results for 2021 have been announced. Better Collective and the selling shareholders had mutual options to buy and sell the shares in the period 2022-2024, however the decision has now been made to accelerate the purchase and complete it in one transaction.
Better Collective US will be further strengthened
The decision to accelerate the remaining share purchase is fuelled by the strong growth in RotoGrinders and the entire US business. The full acquisition will provide a strong platform for future growth, supported by underlying US market growth and synergies between RotoGrinders and the other BC US assets that now can be fully realised. Since Better Collective acquired the initial 60% in May 2019, RotoGrinders has seen significant growth within sports betting as well as daily fantasy sports (DFS). Sports betting is driven by sportshandle.com and the usbets.com network, whereas DFS is driven through the leading US DFS brand, RotoGrinders.com. Since the initial share acquisition, the following growth rates have been recorded:
- 2021 revenue more than doubled since 2019 (2.2x), based on a 47% compound annual growth rate
- 2021 EBITDA is 4.4x higher than 2019, growing at a 109% compound annual growth rate
The strong growth is expected to be accelerated further, both as a consequence of more states regulating online sports betting and due to synergies between the RotoGrinders Network and other Better Collective assets, such as Fantasy Labs (DFS), Action Network, vegasinsider.com and Scores And Odds. Synergies are of both product and commercial nature. The DFS and other subscription based assets (such as Action Network and VegasInsider) will continue to be key revenue generators throughout the US, also in states where sports betting remains to be regulated. The US sports betting market is, according to Vixio, expected to grow from a Gross Gaming Revenue (GGR) of ~$2.5bn in 2021 to ~$5.8bn by 2023. By 2030 the market is expected to exceed $40bn GGR. Five of seven of the original founders and shareholders of the RotoGrinders Network, will remain employed in Better Collective and two will continue in advisory roles.
Financial Reporting
The difference between the new estimated purchase price of the shares and the contingent liability recorded in the balance sheet as of June 30, 2021 is 11.5 mEUR and will be disclosed under Special Items in the Profit and Loss account in the Q3 2021 report in accordance with IFRS. The transaction has no impact on the financial guidance for 2021.
Marc Pedersen, CEO of Better Collective US, says:
“We are pleased to settle the full acquisition of the RotoGrinders Network earlier than originally planned. Since the initial acquisition, we have been impressed with the RotoGrinders team and we are excited to now welcome them to the broader Better Collective family and pursue all synergies to the fullest. Furthermore, we are pleased to keep the now previous shareholders in Rotogrinders engaged in Better Collective with the opportunity to benefit from their competences more widely in the organisation.”
Cal Spears, CEO of Rotogrinders, says:
“Joining Better Collective a few years back helped us fully unlock the potential of the RotoGrinders network. We’re proud to announce that our significant growth has led to an accelerated acquisition and that our team of 50+ will be fully integrated into Better Collective US going forward. All seven of the original RotoGrinders network shareholders and co-founders are now assuming full time or advisory roles. Better Collective is perfectly positioned for US growth and we’re excited to help realise its potential.“
Blockchain
Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity
Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.
This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.
Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”
This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.
Latest News
The Benefits of Playing at EU Casinos
There are many EU casinos that not only attract players from Europe itself but also from countries around the world, including the US, UK, and even those from countries where online gambling isn’t permitted. So why is it that EU casinos are so popular? What drives the online gambling community to these casinos?
Well, that’s what we’re going to be looking at today. What’s so attractive about EU casinos to people who are looking for an immersive and entertaining online casino experience? Why do people in the USA, the home of Las Vegas, go outside of the USA to play at online casinos?
Benefits of EU casinos
Online gambling is by far one of the most popular methods of gambling online. Throughout Europe, specific laws in each country can vary, so access to land-based casinos can sometimes be few and far between. Thus, going online to enjoy a casino experience has become a more preferable option. And so why EU casinos? Well, for those who are joining EU casinos from outside Europe and not from the UK or the US, the English-based support and customer service are very attractive. A lot of people who play at EU casinos access it using a VPN or from a country where they don’t have any domestic online casinos, and most of the time English is their first language or one that they can understand.
The next attractive factor regarding EU online casinos is safety and security. Each online casino in the EU is strictly regulated and licensed. It’s this reassurance that a lot of players look for when choosing an online casino to go to and play at. They are held to the same strict and high standards as those of their British counterparts in the UK, which are upheld and monitored by the UK Gambling Commission. In the EU, a lot of the casinos are also regulated by either the Malta Gaming Authority or the Curacao Gaming Licence Authority. All of which share the same standards and expectations as other authorities across theglobe,e which ensures that all players playing online at EU casino websites.
The casinos that are available online in the EU are also very open to a lot of different payment methods. There are even some crypto casinos where you can play casino games online with cryptocurrency. This openness to accepting a lot of different payment methods means a lot to people who like to play at online casinos. The vast majority of them also pride themselves on providing very quick withdrawals, which are measured in hours rather than days. After all, there is nothing more frustrating than having a big win and then having to wait days to get your hard-fought winnings.
And lastly, bonuses and promotions. The vast majority of EU online casinos will have a wide range of different bonuses and promotions that you can sign up for and take advantage of. There are certain countries, such as Sweden, where the online casinos are strictly limited to one bonus or one promotion; however, the vast majority of EU casinos are not subject to such restrictions and offer a great online casino experience.
When it comes to the popularity of EU online casinos, it is growing year on year. There is plenty going in their favour and more people than ever before are shifting to online casinos rather than having to go down to the casino themselves. The fact that they can access these EU casinos from their smartphones, wherever they are, means it’s easier than ever before to win big at a casino online and have a good time.
Latest News
William Hill Announced as Official Betting Partner of Qipco Guineas Festival
Leading bookmaker becomes official betting partner of first UK Classic meeting of 2024
William Hill has been announced as the new official betting partner of the Qipco Guineas Festival, the first UK Classic meeting of the season.
It’s the latest addition to William Hill’s spring racing roster, following sponsorship of The Lincoln Handicap at Doncaster, the Punchestown Champion Chase and its status as official betting partner of the Randox Grand National Festival.
The 2,000 and 1,000 Guineas headline the three-day meeting and the leading bookmaker will sponsor 15 races across the weekend with the Jockey Club Stakes, Palace House and Dahlia Stakes among the races now featuring the William Hill title.
Aidan O’Brien’s unbeaten superstar City of Troy is still all the rage for the 2,000 Guineas at 4/6 whereas Karl Burke’s Fallen Angel heads a competitive looking 1,000 Guineas market at 7/2.
“We’re delighted to become the official betting partner of the Qipco Guineas Festival, strengthening our relationship with The Jockey Club on the back of a fantastic Grand National Festival,” a spokesperson for William Hill, Lee Phelps, said. “It’s brilliant for William Hill to be associated directly with such a prestigious event at Newmarket, the home of the thoroughbred, for this season’s first two Classics. The company has a close connection with the history of the 2,000 Guineas as William Hill himself bred the 1949 winner, Nimbus, who then went on to win the Derby.
“We’re excited to be involved at racing’s key meetings and see the Qipco Guineas Festival as the perfect sponsorship as the British flat season kicks into gear.”
Newmarket – 2,000 Guineas: May 4, 2024
City Of Troy | 4/6 |
Rosallion | 4/1 |
Notable Speech | 12/1 |
Henry Longfellow | 12/1 |
Night Raider | 16/1 |
Alyanaabi | 16/1 |
Ancient Wisdom | 16/1 |
Task Force | 16/1 |
Ghostwriter | 16/1 |
Iberian | 20/1 |
BAR | 25/1 |
Newmarket – 1,000 Guineas: May 5, 2024
Fallen Angel | 7/2 |
Ylang Ylang | 4/1 |
Dance Sequence | 5/1 |
Ramatuelle | 10/1 |
See The Fire | 12/1 |
Content | 12/1 |
One Look | 14/1 |
Pretty Crystal | 14/1 |
Buttons | 20/1 |
Purple Lily | 20/1 |
Porta Fortuna | 20/1 |
Star Style | 20/1 |
BAR | 25/1 |
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