Regulatory release 3/22
January 7, 2022
Following final regulatory approvals of betting platforms and operational setups, the first four out of nine licensed operators in The State of New York, have been approved to commence operations from January 8, 2022. Better Collective has entered into partnership agreements with three of the four and is in dialogue with the fourth. Better Collective is ready to support the New York sport fans with betting lines, sports information and statistics on its proprietary platforms including Action Network and Vegasinsider.
Online sport betting will shortly be available for bettors from the state of New York as Caesars Sportsbook, DraftKings, FanDuel, and Rush Street Interactive are now approved to accept and process mobile sports betting beginning from January 8, 2022. The remaining five conditionally licensed operators continue to work towards satisfying statutory and regulatory requirements necessary to launch and will be approved on a rolling basis when requirements are met. For Better Collective, and Action Network and Vegasinsider in particular, this is a great opportunity as New York has potential to become the biggest sports betting market in the US. Even though the sports media platforms from Better Collective already have >500,000 visitors every month from New York, it has not been possible for them to use the information for betting. This changes now.
Marc Pedersen, CEO of Better Collective US, says:
"Unlocking the fourth most populous state in the United States to mobile sports betting is a huge moment for Better Collective and our growing portfolio of US assets. We are strongly positioned and excited to continue delivering sports betting content to the many thousand sports enthusiasts from New York that visit our sites daily. "
Better Collective US
With offices in New York, Miami and Nashville, Better Collective has more than 200 employees in the US and operates brands and sports media platforms including: Action Network, Vegasinsider, Scoresandodds, Sportshandle and US Bets. Including New York, Better Collective will be live in 16 US states and has subscribers from across the whole country. As for New York, Better Collective can initially receive CPA-payments, however an ancillary license has also been applied for to potentially work on revenue share at a later stage. The New York sports betting market is expected to generate more than 700 mUSD in Gross Gaming Revenue in 2022. The total US sports betting market is, according to Vixio, expected to grow from a Gross Gaming Revenue (GGR) of ~$2.5bn in 2021 to ~$5.8bn by 2023.
The New York market is expected to drive revenue from the time of launch by the operators and the financial impact will be included in the financial targets for 2022 that will be published in connection with the company's Full Year Report for 2021. Better Collective expects that revenue from the US business will exceed 100 mUSD by 2022.
Enquiries regarding this announcement should be addressed to
Investor relations: ??Christina Bastius Thomsen, +45 2363 8844, investor@bettercollective.com
Media contact: Ulrik Marschall, +45 6068 6370, press@bettercollective.com
This information is such information as Better Collective A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 7:00 a.m. CET on January 7, 2022.
About Better Collective
Better Collectiveis a global sports betting media group providing platforms that empower and enhance the betting experience for sports fans and iGamers. Aiming to make betting and gambling more entertaining, transparent and fair, Better Collective offers a range of editorial content, bookmaker information, data insights, betting tips, iGaming communities and educational tools. Its portfolio of websites include bettingexpert.com, VegasInsider.com, HLTV.organd Action Network. Better Collective is headquartered in Copenhagen, Denmark, and listed on Nasdaq Stockholm.
Attachment
- BC press release NY live 2022.01.07 (https://ml-eu.globenewswire.com/Resource/Download/621ca3ad-d106-4a3d-9140-1a3f5ebb53ca)
