Stockholm-listed iGaming affiliate Better Collective has completed the acquisition of a majority stake in US sports betting and fantasy sports affiliate RotoGrinders for US$21m.

Headquartered in Nashville, Tennessee, RotoGrinders was founded in 2009 and operates a network of sports betting and daily fantasy sports (DFS) affiliate sites in the US, including,,, and

Better Collective has agreed to acquire a 60 per cent stake in the business for $17.85m in cash and $3.15m in shares at a price of SEK75.66 per share.

The company can also acquire the remaining 40 per cent of the business at a valuation based on an EBITDA multiple of between 5x and 10x between 2022 and 2024. The valuation will be determined by the future growth and profitability of RotoGrinders and Better Collective’s other business in the US.

“Since PASPA was repealed by the US Supreme Court last year, we have carefully evaluated how best to establish Better Collective in the growing US market,” said Better Collective CEO Jesper Søgaard. “We have assessed various acquisition opportunities, searching for access to strong products and dedicated people with insight into this market.

“We strongly believe that we found exactly that in RotoGrinders, where we see a strong and dedicated management team and talented employees. Management and key employees remain shareholders in RotoGrinders for the coming years, in which the US market is expected to unfold, whereby management and key employees on the one side and Better Collective on the other to a large extent share the potential risks and upside. We are truly excited about this opportunity.”

Last year RotoGrinders generated revenue of more than $8m and operating earnings of over $3m. Having historically focused on DFS, the business has increasingly been directed towards affiliation to sports betting and other online gambling products.

Combined with Better Collective’s current US operations, the total annualised revenue from the US market is expected to exceed $10m in 2019, with RotoGrinders also set to benefit from the legalisation of sports betting in its home market of Tennessee.

RotoGrinders will remain headquartered in Nashville and will serve as the centre for US focused operations. In addition, Better Collective has opened an office in New York, which will coordinate all of Better Collective’s activities in the US under the leadership of vice president of business development and sales Marc Pedersen.

RotoGrinders CEO and co-founder Calvin Spears commented: “Joining the Better Collective group will help us fully realize the potential we've created with the RotoGrinders network. Regulated online sports betting will create an enormous affiliate marketing opportunity in the US. We feel Better Collective is the perfect partner for us as this opportunity unfolds.

“The experience, resources, and technology they've built up over the past 15 years in European sports betting will prove incredibly valuable here. Our combined goal is to be the largest US sports betting affiliate and we're in a great position to make it happen.”

Shares in Better Collective A/S (STO:BETCO) gained 1.91 per cent to SEK80.00 per share in Stockholm Tuesday morning following the announcement.