Better Collective buys top esports name

Sports betting media group Better Collective has completed the acquisition of HLTV.org ApS for €34.5m.

The Danish company’s purchase of the leading esports platform also gives it ownership of Dust2.dk. HLTV.org was founded in 2002 and is the leading CS:GO (Counter-Strike: Global Offensive) site in the world providing news from the esports industry, CS:LGO match information and player and team rankings. The website has more than 26.5 million visitors per month.

HLTV.org also hosts a fantasy section where players compete with one another through virtual teams consisting of real CS:GO players that community users choose for their individual team. Dust2.dk was founded in 2016 and is the leading CS:GO community in Denmark. It has 250,000 visits each month.

The main business model of the platforms is to promote and advertise esports betting operators. During the last financial year to June 30, 2019, the platforms generated €5m in revenues with earning before tax of €3.5m.

Jesper Sogaard, CEO of Better Collective, said: “We have carefully analysed and monitored esport for a long time. It is a rapidly growing industry and we consider esports an ideal extension to our sports focused business. The nature of esports betting differs significantly from traditional sports betting and, therefore, it was essential to find the right partner, adding deep know-how and industry knowledge to Better Collective.

“I am confident that, through this acquisition, we have found the right people who operate some of the best-positioned esport brands in the world.”