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Better Collective Expands its Reach with $54 Million Acquisition of Playmaker HQ

Posted October 18, 2023
Web Master

In a strategic move, Better Collective, a global leader in the online sports betting and iGaming sector, has successfully acquired Playmaker HQ, a prominent American sports media entity.

The acquisition, valued at $54 million, marks a significant milestone in Better Collective’s expansion efforts in the United States. This transaction encompasses a structured payment plan, consisting of an initial $15.0 million in cash, accompanied by $1.0 million in deferred payments. Furthermore, an impressive $38.0 million in performance-based earnout payments is slated to unfold over a three-year period.

The culmination of these earnout payments hinges on Playmaker HQ’s ability to generate revenues exceeding $75.0 million and earnings before interest, tax, depreciation, and amortization (EBITDA) in excess of $25.0 million within the initial three years post-acquisition. 

Playmaker HQ, headquartered in the vibrant landscape of South Florida, has carved a niche for itself by excelling in crafting original and captivating sports and entertainment content. 

With a primary focus on the American market, the company collaborates with athletes and creative talents, offering a unique appeal to the sports enthusiast. Better Collective recognizes this acquisition as a gateway to accessing a burgeoning and highly engaged audience of generalist sports aficionados. 

The company envisions leveraging Playmaker HQ’s expertise in sponsorship sales to diversify its revenue streams beyond the confines of the sports betting domain.

Moreover, the acquisition serves as a catalyst for expanding Playmaker HQ’s horizons to a global scale, benefitting from the wealth of resources provided by Better Collective. 

Marc Pedersen, CEO of Better Collective North America, expressed his enthusiasm about this acquisition, stating,

“We have closely monitored Playmaker HQ’s trajectory, and today, we are thrilled to announce this transformative deal. Playmaker HQ opens the door to millions of sports fans in the United States, a substantial proportion of whom are new additions to the Better Collective user base.

We are excited to enhance these fans’ sports betting experiences while harnessing Playmaker HQ’s expertise to augment product scalability and revenue generation across Better Collective’s global portfolio.”

Brandon Harris, CEO of Playmaker HQ, shared his perspective on the acquisition, emphasizing the potential for collaboration and growth.

“We eagerly anticipate synergizing with Better Collective’s world-class team, which will empower us to craft remarkable content, experiences, and opportunities, reaching an even broader global audience of sports enthusiasts. Our creative talents are poised to achieve extraordinary feats with the support of Better Collective’s team and resources.”

Harris further expressed the organization’s collective excitement in aligning with Better Collective, with a shared vision of establishing the world’s premier sports media conglomerate. In this strategic union, Better Collective solidifies its position in the sports media landscape and paves the way for a new era of content creation and engagement within the industry.