Reports have emerged that Better Collective, a Danish betting brand, is set to propose a $615m takeover of Spotlight Sports Group, the owner of Racing Post.
Indeed, according to The Sunday Times, Spotlight Sports Group, which is owned by the private equity firm Exponent, has been up for sale since December, when the firm hired bankers at PJT Partners to oversee the process.
Spotlight is the owner and operator of Racing Post, a betting brand founded in 1986 by Sheikh Mohammed bin Rashid al-Maktoum.
Bettor Collective has distanced itself from this apparent purchase, but remained coy on future acquisitions, with the Coppenhagen-based brand telling Gaming America: “The article is highly speculative and given our defined M&A-strategy and track record we are not surprised to be mentioned when there are rumours of sales processes in the industry. However, we do not want to comment or join in speculations.”
Since Racing Post’s purchase by Exponent in 2016, the brand has expanded its sports offering, becoming a data company for a far larger portfolio of sporting events. This change is reflected in the company’s new name, Spotlight Sports Group.
Spotlight was hit hard by the Covid-19 pandemic, as revenues fell and losses grew amid the closure of almost all live sporting events. Perhaps this fall in revenue is a factor in the data brand seeking a sale, as shareholders look to recoup lost revenue.
Earlier this month, Spotlight announced the signing of a long-term strategic partnership with the Canadian betting brand Playmaker Inc. This deal was designed to improve the coverage of horseracing across the United States and Canada.
“It could be argued that there is a perception that horseracing in America has been thought to be difficult to understand and consume,” commented Rick Wolf, SVP, Spotlight Sports Group. “Spotlight Sports Group’s decades of experience publishing premium horseracing content and actionable betting intelligence, coupled with Yardbarker’s reach to sports fans, gives us the unique opportunity to make horseracing digestible, understandable and continue to support its growth and popularity with all sports fans.”
