PointsBet bidders were in ‘merger talks’
PointsBet bidders were in ‘merger talks’DraftKings/Fanatics report, Genius EPL extension, another New York entrant, startup focus – Split the Pot +MoreGood morning. On today’s agenda:
Pushing up the ante, I know you got to see me. PointsBet rumorsDraftKings and Fanatics were previously in discussion about a merger before becoming rivals in the bidding for PointsBet. Plot thickens: DraftKings and sports apparel to betting and trading cards giant Fanatics held discussions about a $28bn merger, according to a report in the New York Post on Friday. The two are currently locked in a bidding battle for the US operations of PointsBet.
Focused on the job in hand: A DraftKings spokesperson told the paper the bid for PointsBet was “centered around the significant synergies and financial rationale” and that the suggestion of any “ulterior motive” was “irresponsible and not grounded in reality”.
The week aheadEyes on the prize: Attention now turns to PointsBet’s EGM on Friday where shareholders will vote on Fanatics’ original $150m bid. The last communication from the company on Monday last week said the board continued to recommend a vote in favor.
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** SPONSOR’S MESSAGE ** Underdog: the most innovative company in sports gaming. At Underdog we use our own tech stack to create the industry’s most popular games, designing products specifically for the American sports fan. Join us as we build the future of sports gaming. Visit https://underdogfantasy.com/careers Genius’ EPL extensionData provider signs one-year extension to English and Scottish soccer distribution deal. One more year: Genius Sport and Football DataCo, the data rightsholder to the English Premier League, English Football League and the Scottish Professional Football Leagues, have extended their existing relationship for one extra season.
Dem bones: Analysts at JMP noted that the management believes the deal – which covers over 4,000 games – “does not get enough credit” for its EPL rights. “The ability to further implement Second Spectrum technology into the extension underscores our belief in the long-term growth story of this area of the business,” the team added.
Then there were 11The owner of the Parx Casino chain Greenwood Gaming has teamed up with real estate developer Silverstein to bid for one of the three New York downstate casino licenses. Crowded house: The partnership would build a casino – to be called the Avenir – and hotel complex on the Upper West Side of Manhattan, opposite the Javits Convention Center.
Analyst takesCasino palooza: Having returned from a road trip to various properties in and around the Chicagoland market, the team at Truist suggested the unfavorable economic backdrop is yet to impact consumer spending patterns.
Whale of a time: After meetings with a dozen betting and gaming companies during its Consumer Conference in Nantucket last week, the team at Jefferies reported companies suggesting there was “no evidence” of consumers tightening their belts.
** SPONSOR’S MESSAGE ** BettingJobs is the global leading recruitment solutions provider to the iGaming, Sports Betting and Lotteries sectors. Boasting a 20-year track record supporting the iGaming industry, and with a team of experts and world class knowledge, it’s no surprise BettingJobs is experiencing rapid growth with outstanding results. Does your company have plans to expand teams to cope with strong growth and demand? Contact BettingJobs.com today where their dedicated team members will help you find exactly what you are looking for. Startup focus – Split The PotChristian Rajter’s Swedish games developer hopes to attract a non-casino audience. Next time around: Ex-Expekt and Mobenga founder Christian Ratjer makes his return to the sector with the intention of finding an untapped lower-end, non-casino audience with “intuitive, lightweight and superfast” games.
A warm welcome: Rajter says Split The Pot has concentrated on making “inclusive games where everyone should be able to play them”, something for which, he says, there is a “clear appetite”.
This is the world calling: Rajter says that with traction having been gained in Africa, Split The Pot is looking to expand into the LatAm region and India.
Growth company newsPro League Network’s World Putting League championship will be available for betting in eight states. The Action Network will stream the tournament live as the exclusive broadcast media partner. BeyondPlay will provide its jackpot management tool to Soft2Bet. Career pathsBrazilian OSB and iCasino operator Aposta Ganha has seen Hugo Baungartner join as VP for global markets to support expansion into new regions as part of an international growth strategy. Codere Online has appointed Michal Elimelech to its board of directors. Elimelech was previously head of US marketing and held other leadership positions at 888. ** SPONSOR’S MESSAGE ** The Huddle Journal – On Leadership
Visit Huddle website: https://huddle.tech/ NewslinesGenting Malaysia has called a halt to the $1.23bn sale of a parcel of land in Miami to Smart Miami City after the purchaser attempted to amend the terms of the deal. In a filing to the Malaysia stock exchange it said it would continue to review its options with regard to the 15-acre block of land. Churchill Downs is collecting signatures to get a new 300/350-strong HRM facility in Manassas Park, Virginia, on the ballot in November. The petition requires 450 signatures, or 5% of Manassas Park voters. Mohegan Gaming’s largest creditor, Chatham Asset Management, has proposed a refinancing of Mohegan’s senior secured notes due in 2026 involving a $250m backstop for $400m of new 2027 notes. What we’re readingBottoms up: Flutter is the toast of the FTSE 100 says The Irish Times. An +More Media publication. For sponsorship inquiries email scott@andmore.media. |
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