Better Collective eyes US growth with RotoGrinders deal
Published 28th May 2019
Better Collective will pay $21m (£16.6m/€18.8m) for an initial 60% stake in the business, with an agreement to acquire the remaining 40% of shares between 2022 and 2024.
Rical runs both the RotoGrinders and SportsHandle portals, with the former of these also operating a network of sites including PennBets, USBets and poker website PocketFives.com.
RotoGrinders, which is based in Nashville, Tennessee generated revenue of more than $8m in 2018, as well as earnings in excess of $3m.
“Since PASPA was repealed by the US Supreme Court last year, we have carefully evaluated how best to establish Better Collective in the growing US market,” Better Collective chief executive Jesper Søgaard explained.
“We have assessed various acquisition opportunities, searching for access to strong products and dedicated people with insight into this market.
“We strongly believe that we found exactly that in RotoGrinders, where we see a strong and dedicated management team and talented employees.”