Side by side they stick together…
The good old Collingwood Football Club is the most famous football club in Australia, and supports and funds a number of community and charity programmes.
In its latest move, Eddie McGuire’s football club has now agreed in principle to commercialise a range of online “sports lottery” products to help fund its social endeavours with a private company Plus Connect – a company that is the subject of an Activistic (ASX: ACU) takeover in the coming weeks.
Sports Lottery is already big business in Europe – as an example, Postcode Lottery generates €1.5 billion in revenue and contributes 613 million to charities in the UK.
Via this deal, the $10M capped ACU is set to enter the $600M Australian sports and charity lottery markets, and it looks to be starting with the biggest sporting club in the land.
Remember the UK’s epic medal haul at the Rio Olympics?
Well part of that success can be attributed to funds raised via a lottery style funding system.
Via the Magpie Millions, Collingwood plans to be pioneering the Sports Lottery concept here in Australia with Plus Connect and ACU.
ACU’s planned take over of Plus Connect is synergistic – allowing ACU to break into the Australian market, and it gives the company a new revenue stream on an already proven concept.
Plus Connect’s products are designed with significant product margins in mind, and that’s a great sign for ACU shareholders.
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Could ACU’s latest corporate manoeuvres see it start on the path to catch up to the somewhat comparable $440M capped PushPay?