Better Collective upgrades its financial targets for the year after acquiring advertising company Skycon Limited

Better Collective announced it has acquired global display advertising company  Skycon Limited, and upgraded its financial targets for 2023.

The purchase had a price tag of GBP 45 million ($56 million), and was carried out “in order to realize the vision of becoming the Leading Digital Sports Media Group,” the company wrote. 

Skycon Limited will be consolidated into the Better Collective Group as of April 14. To this end, the company upgraded its financial targets for the remainder of the year.

Revenue was taken to EUR 305-315 million from EUR 290-300 million. EBITDA before special items of 95-105 million, and net debt to EBITDA before special items remained unchanged at <2.0.

Last year, the sports betting media group acquired esports brand Futbin and its related domains for €105 million ($113.4 million), which allowed it to expand its offering within esports, given Futbin’s status as a leading esports media brand within esoccer (FIFA).

With the addition of Futbin and related assets, Better Collective’s esports portfolio reached 100 million monthly visits. Additionally, the move further diversified Better Collective’s income stream - this is due to Futbin revenues mainly coming from ads and subscription sales.