Better Collective announced its plans to acquire Toronto-based Playmaker Capital for $188 million. The deal, funded 65% in equity and 35% in cash, will make Playmaker Capital a wholly owned subsidiary of Better Collective. The acquisition is expected to significantly enhance the media capabilities of Better Collective and expand its audiences across its sports media portfolio.
The transaction, scheduled to close in the first quarter of next year, is subject to legal and regulatory approvals, as well as approval by Playmaker investors. The two largest investors in Playmaker, Relay Ventures and JPG Investments Inc., control 24% of the outstanding equity in the firm.
The acquisition of Playmaker Capital affirms the ongoing interest in mergers and acquisitions at the convergence of sports media and betting. Playmaker’s enviable properties, profitability, and large audience, with 200 million monthly unique visitors and over 180 million followers on social media, make it an attractive target for Better Collective.
In addition to its profitable properties such as Futbol Sites, The Nation Network, and Yardbarker, Playmaker also provides Better Collective with entry into the South American sports wagering market. This includes vibrant sports wagering markets in Colombia and Peru, and the potential opportunity in Brazil.
The acquisition of Playmaker Capital is seen as “transformational” for Better Collective, representing a significant milestone in the company’s journey towards becoming the leading digital sports media group. Better Collective CEO Jesper Søgaard expressed excitement about the acquisition, highlighting the opportunity to grow their audience and reach a larger segment of generalist sports fans across the Americas.
Overall, the acquisition of Playmaker Capital by Better Collective signifies a strategic move to enhance its presence in the North American and South American sports media and betting markets, positioning the company for future growth and expansion.