In November 2018, Patrick Keane was appointed as the chief executive officer of the sports betting-oriented company, Action Network. Now, after five years in the leading position, Keane has announced his resignation following Better Collective’s acquisition of the firm in 2021 for $240 million.

Keane expressed his pride in the accomplishments of the Action Network team during his time as CEO. He noted that two-thirds of acquisitions are deemed unsuccessful, but Better Collective has seen success with the acquisition of Action. Better Collective’s CEO, Jesper Søgaard, praised Keane and his team, recognizing their contribution to the company’s position in the North American market.

CEO Pedersen stated that Action Network’s revenue had exceeded $20 million in the year leading up to the acquisition, despite being impacted by the COVID-19 pandemic. He emphasized the company’s continued growth and the significant increase in revenue since then, highlighting Keane’s role in the high-performance and fast-growing organization.

Before joining Action Network, Keane held prominent positions at Bleacher Report, Sharethrough, Gimlet Media, Google, CBS, and Associated Content. He also served as an operating partner at Stripes, a growth equity fund based in New York City.

In addition to Action Network, Better Collective’s US-based operations include VegasInsider, RotoGrinders, Sportshandler, Playmaker HQ, and Canada Sports Betting. The company implemented a long-term incentive plan aimed at retaining crucial employees, and in February 2023, announced an investment surpassing the 5% mark in one of its competitors, Catena Media.

As Keane prepares to depart from his role as CEO, the next steps for the executive team and the appointment of a new CEO remain unknown. Keane’s departure marks the end of an era for Action Network as they continue to navigate the dynamic landscape of sports betting and digital media.

By admin