While Catena Media today announced their acquisition of Lineups.com, Better Collective announced a monumental deal of their own as they acquire the leading US Sports Betting Media Platform Action Network.
With this acquisition, Better Collective gains a clear market leader within affiliation and sports betting media and now expects to increase its revenues in the US to more than USD100 million by 2022.
Better Collective today announced that it has signed an agreement to acquire 100% of the shares in Action Network, Inc. for USD 240 million on a cash and debt free basis. Founded in 2017 and launched in 2018, Action is uniquely positioned in the US market as the premium sports content and product destination for US Sports bettors. A trusted source for sports fans, Action’s media platforms provide an enhanced experience for its users through original sports news content, premium insights, deep menus of odds and proprietary betting tools and data. Action Network’s diverse revenue model includes a growing affiliate marketing business as well as subscription products focusing on Fantasy Sports and US Sports Betting.
In 2021, Action is expected to achieve revenues approaching USD 40 Million, an increase of over 100% year-on-year, while also generating positive operational earnings in 2021. As more states legalize online sports betting, the potential to further deepend and expand Action’s commercial partnerships with large US-based sportsbooks such a s BetMGM, DraftKings, Pointsbet and FanDuel is signification. Action is today headquartered in New York and has approximately 100 employees.
Jesper Søgaard, Better Collective CEO, comments:
“I am thrilled to welcome Action and its employees to Better Collective. This acquisition, which is the largest in Better Collective’s history, gives us a leading position within affiliation in the US and a strong foundation for profiting from the continuous regulation of the US betting market. We add three new, very well positioned US sports media brands to our portfolio and welcome around 100 new colleagues, together representing an invaluable pool of knowledge and expertise on the US sports betting media market. By all accounts, this is a great day for Better Collective.”
Gilbert Fletcher is an ex financial journalist from Cambridgeshire, England. Gilbert worked with several leading financial publications before joining Gaming Industry Media.