Better Collective has bought Soccernews.nl, one of the most visited Dutch online sports media, and Voetbalwedden.net, a well-established Dutch online sports betting community, in separate transactions for total upfront payments of €5.9m, with maximum deferred and earnout payments of €3.75m.
The two acquisitions form a strategic move that will establish Better Collective with a leading position in the Dutch online sports betting market. It is expected that revenue in Better Collective Netherlands will exceed €3m in 2022, which will be the first full fiscal year in that market. As a new market, the Netherlands is expected to produce high growth for several years.
The Dutch ‘Remote Gambling Act’ will come into effect on October 1, 2021, fully regulating online gambling, which until now has been operated as a state monopoly. With the act, iGaming operators will be given the opportunity to apply for a license to operate in the market and more than 20 operators are expected to be licensed by 2022. According to the international betting and gaming consultancy firm, H2 Gambling Capital, Dutch onshore iGaming is projected to increase from 22 per cent of the country’s total iGaming in 2015 to 81 per cent in 2024. As a result, the Dutch iGaming gross gaming revenue (GGR) for online casino and sports betting combined is expected to reach more than €800min 2024, making it the fifth largest iGaming market in Europe.
Together, Soccernews.nl and Voetbalwedden.net attract more than 2.5m monthly visitors. The two media platforms will enable Better Collective to take advantage of the Dutch market opportunity from day one and be well positioned to gain from the expected arrival of larger international sports betting operators in the market in 2022.
It is expected that the two acquisitions will have a positive impact on Better Collective’s revenue and earnings for 2021 and onwards. The financial impact in 2021 is however expected to be limited due to the time of incorporation and the time needed for the new Dutch market to establish itself. The financial targets for 2021, therefore, remain unchanged.
Better Collective has recently incorporated Better Collective Netherlands B.V and the acquisitions add an experienced team to the Dutch business unit. To manage its Dutch operations, Better Collective has hired Joris Dekkers as Managing Director from August 1, 2021. Dekkers knows Better Collective’s business well as he has supported the company’s preparations for the market opening as an external consultant. He brings a strong background and close to ten years of experience from the iGaming industry, where he has worked on both the media and the operator side.
Jesper Søgaard, Co-Founder & CEO of Better Collective, said: “We are excited about the regulatory opening of the Dutch iGaming market, welcoming licensed operators and laying the foundation for stronger player protection. The Dutch market has high potential and is expected to grow significantly in the coming years. To be able to capitalize on these opportunities, we are pleased to have added two strong Dutch brands to our portfolio and welcomed Joris Dekkers and a new team to Better Collective. These moves will help us establish a leading position in the Dutch sports betting media landscape.”