Collingwood FC’s exclusive deal with ACU acquisition target
Plus Connect, who has commercialised socially responsible web-based wagering – and is currently the subject of a takeover offer by Activistic Limited (ASX:ACU); announced today an agreement with Collingwood Football Club to partner on a range of online sports lottery products.
As the first anchor customer of the joint venture, Collingwood will launch the first of its kind sports lottery platform Magpie Millions with funds raised going to supporting Collingwood’s many community programs, initiatives, partnerships and junior sporting activities.
CEO of Collingwood Football Club, Gary Pert said: “The launch of Sports Lottery Australia will enable Collingwood Football Club to maintain a long history of deep involvement with, and support for, our local community.”
If the partnership is formalised, the club will help facilitate the expansion of the product to other AFL clubs, and potentially other sporting codes in Australia to assist with fundraising for community programs.
Sports Lottery has seen enormous success in Europe, with a record £346 million raised via a national lottery for UK Sport to boost their record efforts at the Rio Olympics this year.
Several major clubs in the European Premier League (EPL) have had success with fundraising lotteries.
The Australian market size for sports and charity lotteries is estimated at around A$600 million annually, and ACU’s entry via the Collingwood deal gives this stock an early moving market opportunity.
At the same time, as ACU is a speculative tech stock, so before considering an investment in ACU, seek tailored financial advice.
ACU has signed a binding bid implementation agreement to make an off market takeover offer to acquire Plus Connect, and the two companies are close to finalising the transaction, scheduled for early December.
Plus Connect appears to be an attractive acquisition prospect for the company, as it operates high margin tech products that complement ACU’s through a shared focus on charity and community fundraising.
Managing Director of Plus Connect, Paul Crossin is positive about today’s news, stating: “Plus Connect is building a socially-responsible business delivering lottery-style products to support Australian charities and not-for-profits. The launch of Sports Lottery Australia represents our first foray into community sports and will enable Australians to enjoy an entertaining lottery-style product while contributing to the ongoing viability and vitality of their favourite sport or club.”
This marks yet another high-profile partner for ACU, who earlier this month announced a white label deal with US Congressman Joe Garcia. The deal will see ACU’s micro-donations app platform – responsible for the success of their Veterans Call app – used by the Congressman’s election campaign.
Executive Chairman of ACU, Nigel Lee, had this to say about the Collingwood announcement: “This is a very exciting partnership, and through Plus Connect, Activistic are looking forward to working closely with Collingwood Football Club to help change the way sports in Australia raise funds and help communities. This JV underlines the value of bringing Activistic and Plus Connect together to use technology to help change the way that giving occurs in the 21st century.”