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Better Collective Enters into Definitive Agreement to Acquire Playmaker Capital

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Better Collective has announced that it has entered into a definitive agreement to acquire Toronto-based Playmaker Capital, a leading digital sports media group that owns and operates a number of strong sports media brands in the US, Canada, and across South America. Upon closing of this transformational transaction, Better Collective is expected to become the market leader in South America with the largest audience across its sports media brands and will also strengthen its leading position in North America.

Acquisition Highlights

  • Better Collective’s second largest acquisition with a total price consideration of 176 mEUR
  • Transformational acquisition to take market leadership in South America and enhance North American market leadership
  • Acquiring strong digital sports media brands with a combined monthly audience of more than 200 million visits from across the Americas
  • Experienced leadership team to stay onboard to help drive the business forward
  • Clear path to synergies post integration bringing EV/EBITDA of 2026e to below 5x, implying an EBITDA margin in line with Better Collective’s publishing business of +40%. Positive synergistic effects are expected to expand further in the years thereafter
  • The transaction will be funded by 65% Better Collective shares (partly by the transfer of 1,387,580 treasury shares and up to 1,713,300 newly issued shares) and 35% cash, corresponding to a dilution of approximately 3.1%. Better Collective shares will be settled at 270.48 SEK/share
  • Upon closing of the transaction Better Collective will revisit its long-term financial targets for the period 2023-2027.

Playmaker Capital is a leading digital sports media group operating a strong portfolio of sports media brands across the Americas. Following the closing of the transaction, Playmaker Capital will be a wholly owned subsidiary of Better Collective. Once integrated, Better Collective expects to significantly ramp up its media capabilities and expand its audiences across its sports media portfolio.

Jesper Søgaard, Co-founder & CEO of Better Collective, said: “Acquiring Playmaker Capital is in many ways transformational for Better Collective and will be an important milestone in our journey towards becoming the leading digital sports media group. Upon closing of the acquisition, we will significantly grow our audience and reach a larger segment of generalist sports fans. For years, Playmaker Capital has built incredibly strong sports media brands and excited sports fans across the Americas with high-quality sports content, cultivating a loyal and dedicated following. The skilled team behind Playmaker Capital brings a unique set of media competencies that will boost our organization. Saying that I am excited to welcome the new team to the Better Collective group would be an understatement.”

Jordan Gnat, Co-founder & CEO of Playmaker Capital, said: “Over the past 12 months I have been talking a lot about a transformational deal for Playmaker and its shareholders that will take this company to the next level. Today’s announcement does exactly that and I could not be more excited for the Playmaker family to join the Better Collective family. Their success is undeniable and their vision to become the leading digital sports media group aligns with us exactly. The cultures of our companies are very similar and I see the integration and synergies to be incredibly accretive to shareholders.”

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The closing of the transaction is subject to approval by the shareholders of Playmaker Capital, court approval, applicable regulatory approvals and certain other closing conditions customary in transactions of this nature. The transaction is expected to close before the end of Q1 of 2024, whereafter Playmaker Capital will be consolidated into the Better Collective group.

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Funds Advised by Apax Partners LLP Fully Exit their Equity Position in Genius Sports

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Genius Sports Limited announced that Funds advised by Apax Partners LLP (Apax Funds) have fully monetized their equity interest in Genius Sports and no longer holds any shares in the Company. The Apax Funds first acquired a majority interest in Genius Sports in September 2018 and have supported the Company through a period of transformational growth over the last six years.

“Apax has been a tremendous partner to Genius Sports, and we are grateful for their valuable insight and expertise over the last six years. Today marks the conclusion of a very successful partnership, and we look forward to welcoming this next chapter with the ongoing support of our high-quality institutional shareholders,” Mark Locke, Co-Founder and CEO of Genius Sports, said.

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Google Updates its Gambling and Games Policy for the US

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Google will update its Gambling and Games policy for the US on July 15, 2024. The update will allow ads for lottery couriers in specific states, here are the areas:

Arizona, Arkansas, Colorado, District of Columbia, Idaho, Illinois, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Missouri, Montana, Nebraska, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Vermont, West Virginia, and Wyoming.

Advertisers must be licensed in at least one state that requires a license if they target states that do not require one. Certification is mandatory for advertisers. The policy page will reflect these changes when they take effect.

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Ocean Casino Resort Launches Cardless Gaming Feature

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Guests at Ocean Casino Resort, a premier luxury casino destination known for state-of-the-art gaming, now have an easier and more convenient way to play. The resort launched Cardless Gaming, an all-new, fully integrated mobile experience, available via the Ocean Casino Resort Mobile App. Debuting as a first for New Jersey, this feature is designed to put the entire resort’s experience at guests’ fingertips as a one-stop-shop.

“The Ocean Casino Resort Mobile App takes our gaming experience to a new convenient level for avid gamers and fun-goers by providing a cardless option directly to the palm of their hands. By continuously adapting to evolving player preferences and utilizing advancing technology, Ocean solidifies its reputation as the premier gaming experience on the East Coast,” John Forelli, SVP and Chief Information Officer for Ocean Casino Resort, said.

The elevated player experience begins by logging into the Ocean Casino Resort Mobile App. Under “Account,” guests can scroll down to the “Cardless Gaming” section to select play slots or play table games. For table games, the final step is to simply present the QR Code to the dealer or Pit Boss. For slots, players have to select “Cardless Login” on the machine’s display and scan a QR Code to connect and card-in. Physical cards will continue to be accepted for those who prefer it, and in the near future players will also have a Cashless option to utilize. Ocean Casino Resort’s mobile app can be downloaded via the Apple App Store or Google Play Store.

Ocean presents an unparalleled gaming experience, complete with three high-limit slot (The Cove) and table games venues (The Loft and High Limit Table Games), two guest lounges for Ocean Rewards cardmembers, as well as pathways and wayfinders throughout the casino floor for guests to easily navigate between games. Ocean’s high-energy casino features exclusive ocean views, 1750 of the most exciting slot machines and 125 action-packed table games across 135,000 square feet of gaming space.

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