A Danish sports media conglomerate, Better Collective, has secured a controlling interest (60%) in RotoGrinders, a prominent US-based platform for daily fantasy sports (DFS) and sports wagering data, for a sum of $21 million. The agreement encompasses an option for Better Collective to purchase the remaining 40% of RotoGrinders between the years 2022 and 2024.
This calculated maneuver underscores Better Collective’s goal of becoming a dominant force in the rapidly expanding US sports betting sector. RotoGrinders, renowned for its popular online destinations such as rotogrinders.com and sportshandle.com, possesses a substantial and dedicated user base, making it a prized asset for Better Collective’s growth strategy.
RotoGrinders has been a notable entity in the DFS arena, particularly for its part in exposing a significant insider trading controversy involving industry titans DraftKings and FanDuel in 2015. The company’s robust revenue generation, surpassing $8 million in 2018 and anticipated to exceed $10 million in 2019, highlights its strong market standing.
The chief executives of both organizations, Jesper Søgaard of Better Collective and Calvin Spears of RotoGrinders, conveyed their excitement regarding the acquisition, stressing the mutual objective of becoming the premier sports betting entity in the United States. This collaboration capitalizes on the strengths of both companies: Better Collective’s international footprint and resources coupled with RotoGrinders’ established US foothold and industry knowledge.