Playmaker buys Wedge for $31m to expand in U.S. affiliate space

Content Team 1 year ago
Playmaker buys Wedge for $31m to expand in U.S. affiliate space

Playmaker, a Canadian digital sports media company, has bought Wedge Traffic to boost its presence in the U.S. iGaming and affiliate market. 

The company said that Wedge’s technical and affiliation expertise, combined with Playmaker’s ecosystem of highly engaged sports fans, will create significant value for online sportsbooks and casino operators that are vying to acquire and retain customers.

Playmaker said that it has identified affiliation as a gap when it comes to partnering with iGaming operators. 

“We have been very clear that creating a centre of excellence in affiliates was key to rounding out our offering as a leading sports media business,” said Jordan Gnat, Playmaker CEO. “We look to super-serve all of our partners, and Wedge allows us to better serve critical customer segments, sports betting and iGaming operators.”

Playmaker payment split

The transaction consists of a cash payment on closing of $8.5 million, together with the issue of 3,694,933 Playmaker shares. There is also a contingent consideration for $20.7 million, which consists of two separate earn-out payments. 

Wedge is currently active in 16 states and in the province of Ontario. It has affiliate marketing relationships with 15 online sportsbooks and casinos.

There are currently 21 US States, as well as the District of Columbia and the province of Ontario, Canada, with regulated mobile sports betting operational in North America. Additional States including Ohio, Maine, Maryland, and Massachusetts are on track to launch online sports betting activity in the near-term. 

By 2026, the US sports betting and online casino market is projected to generate revenue of US $24 billion, an increase of 213 percent over 2021.

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