- Major gambling media company Better Collective has acquired American betting media brand Action Network in a new deal this week.
- The growing company sold all of its shares in Action Network, Inc. for $240 million to the Danish conglomerate, which will seek to expand the Action Network brand.
NEW YORK – Sports betting media group Better Collective has purchased major sports betting and gambling media brand Action Network for $240 million.
The news broke Monday that Action Network Inc. and its governing brass would be selling 100% of the shares in the company to the Better Collective after growing the brand since 2018.
Since its launch that year, Action Network has established itself as a hub for gamblers and sports bettors to find information, betting advice, event previews, and much more.
Fans and bettors would head to Action Network for their game previews, betting breakdowns, and other valuable information, allowing the brand to grow exponentially in its short time.
Throughout its brief history, Action saw massive growth with revenues nearing $40 million for an increase of over 100% year-to-year.
“Today marks a great achievement in the history of Action. In just a few years, our team has managed to build a leading sports betting product and media business in the US market, making us attractive to a leading international player. I am thrilled about this outcome for our employees and investors and we look forward to continuing to forge great relationships with our league, media and sportsbook partners.” said Patrick Keane, the CEO of Action Network.
“Under Better Collective’s ownership, we become part of a company with many years of experience and all the resources necessary to further grow our position and develop our offering, to ultimately enhance the betting and entertainment experience for sports fans. We gain new colleagues, career paths and perspectives. I’m looking very much forward to the journey ahead.”
With many states in the USA still deciding the future of legal sports betting, brands like Action Network still have plenty of room to expand into these new markets.
With the repeal of PAPSA still echoing throughout the nation, over half of all states have brought their sports betting systems into the legal realm.
As more and more states begin to jump aboard and implement forms of regulated sports betting, other states will begin to grow envious of the tax money.
This will likely lead to more states bringing sports betting within their borders, as has already shown with the progression of states like Florida.
This move will likely only increase the outreach that Action Network currently owns while developing the international footprint of the brand for years to come.
Jimmy began his journalistic journey as a stat recorder and PA announcer for his middle school baseball team. Full of experience across print, broadcast, and sports radio, he brings his knowledge and toolkit to the LegalSportsBetting team. You can find him watching sports, making parlays, and listening to music on any day ending in Y.