In a strategic move to strengthen its foothold in the UK, digital sports media group Better Collective has acquired sports betting media AceOdds for a total consideration of 42 mEUR implying 4x last twelve months EBITDA.

AceOdds, a versatile multi-language sports betting brand, offers a comprehensive range of betting tools, odds, reviews and streaming schedules through its web and app based platforms. With a robust presence in the UK market, Better Collective’s global reach through local expertise aligns perfectly with AceOdds’s vision of expanding its influence outside the borders of the UK. Following the acquisition, Better Collective upgrades its 2024 full year financial targets.

Ian Bowden, Better Collective’s Senior Director for UK & Ireland, said: “I am thrilled to announce the addition of AceOdds to the Better Collective group. This strategic acquisition brings us a robust owned and operated sports betting media brand in the UK market, poised for global scalability. Aligned perfectly with Better Collective’s overarching strategy of acquiring leading sports media brands across various niches, the AceOdds brand fills a crucial gap by offering a vital sports betting affiliation brand in a pivotal growth market for the Better Collective group, along with an app benefiting from hundreds of thousands installs to further increase the reach we can provide our partners.”

Established in 2008, AceOdds was founded with the aim of providing UK sports enthusiasts with an easy-to-use betting calculator. Over the years, the brand has expanded, offering a well-regarded web platform featuring a range of betting tools, comparison features, live streaming schedules, an odds and parlay calculator, and more. Additionally, AceOdds has introduced a popular app.

The acquisition aligns with Better Collective’s strategy of owning the full range of sports media across key regions, spanning from traditional sportsbook comparison brands to general sports media, social media content creators, podcast producers and beyond.

SkyCity Adelaide Pty Ltd (SkyCity) and AUSTRAC have filed joint submissions with the Federal Court of Australia, proposing a $67 million penalty over the casino’s contravention of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).

A court hearing has been set down for 7 June 2024, at which Justice Lee will consider the parties’ proposed settlement.

While AUSTRAC and SkyCity agree that a $67 million penalty is appropriate in all the circumstances, it is a matter for the court to determine the appropriate penalty.

In reaching this agreement, SkyCity has admitted that it operated in contravention of the AML/CTF Act, including that:

• its AML/CTF Programs did not meet the requirements of the AML/CTF Act and AML/CTF Rules, in contravention of section 81.
• it did not carry out appropriate ongoing customer due diligence with respect to certain higher risk customers and customers transacting through higher risk channels, in contravention of section 36.

“AUSTRAC took this action out of concern that SkyCity’s conduct meant that a range of high-risk practices, behaviours and customer relationships were allowed to continue unchecked for many years,” AUSTRAC’s Chief Executive Officer, Brendan Thomas said.

Mr Thomas said the action serves as an important reminder to casinos and the gaming sector to take their AML/CTF obligations seriously and be vigilant to money laundering and terrorism financing risks.

As the matter is before the court for determination, AUSTRAC is unable to comment further on the proceedings.

REEVO, a cutting-edge provider and aggregator of online casino games, strike a deal with Dench eGaming Solutions, the innovative supplier of the online gaming industry to enhance its casino offering.

The distribution deal shall see REEVO providing entire portfolio of certified games for Bulgaria including Curacao, MGA and Romania certified titles. All of REEVO’s game titles will be available in a mobile HTML5 version across all Dench operators.

Dobromir Mitev CEO of Dench eGaming Solutions, said: “REEVO is a first-class casino slot provider and we are very excited to form this partnership ahead of the launch of a number of European facing operators which will significantly benefit from their product proposition.”

Petra Maria Poola, Head of Sales in REEVO, added: “The decision to partner with Dench was easy to make for us and following an impeccable integration effort, our games are now available to their customers via Dench Core. Delivering our content and promoting it via their fully automated instrument Giselle is what we are definitely looking forward to as this will clearly open up fantastic opportunities for both REEVO and Dench.”