Earnings+More - Hearts a flutter
I could be so good for you, I'm gonna help ya. Hard Rock Bet is all about fun and innovation. With a top ranked sportsbook & casino product, unique access to US states, and a globally recognized brand, join our team to help shape the online experiences that millions love. We’re currently seeking: SVP – Performance Marketing Sr. Director – Sports Promotions And other amazing positions here. The go teamTag team: Penn Entertainment’s shares rose nearly 5% on Friday after a report emerged suggesting Flutter Entertainment was interested in teaming up with Boyd Gaming to form a joint approach to buy the business. To each, their own: According to The Deal, if a joint bid were agreed, Boyd would take Penn’s 43 bricks & mortar properties while Flutter would be gaining control of the ESPN Bet JV alongside theScore business. Previous reports suggested Boyd has already made an approach.
Friends with benefits: Notably, Flutter and Boyd have a long-standing relationship via a 5% stake in FanDuel. The Las Vegas locals and regional gaming operator received the share as part of a market access deal that has seen FanDuel gain licenses in multiple states. Taking care of business: The Deal said sources told the newswire Flutter would also be interested in buying back the stake as part of any Penn buyout arrangement. The report noted the 5% could be worth up to $1bn while Flutter would also pay $500m-$1bn for the Penn interactive business.
Accumulate to speculate: Penn remains the subject of huge speculation, with various high-profile activist investors on the share register including HG Vora and Donerail, both of which have previously gone public with their discontent over the direction of travel at the company.
2️⃣➕2️⃣ Penn up nearly 5%, Boyd and Flutter flat Now live on the OpticOdds screen: player market alternate lines, vig, line history & more… Built for operators with an emphasis on speed and coverage, OpticOdds offers:
Join top operators at opticodds.com/contact +MoreRaketech has sold off its US-facing sports tipster operation ATS Consultants for $2.25m after a strategic review determined the business, bought in December 2021, was non-core. The company didn’t disclose the name of the buyer. Scout Gaming has broadened its agreement with bet365 for the delivery of fantasy sports products in the US. Earnings in briefBuzzin’: UK-facing real and online bingo operator Buzz Bingo said 2023 was a “year of reset,” after it showed adj. EBITDA rising 14% to £34.7m from revenues that rose 6% to £207m with like-for-like up 5%. In 2024 to date, it said adj. EBITDA was up 24% YoY while LFL revenue was up 5%. On socialComing for you: What we’re readingIf you don’t slow down, you’re gonna crash: 10 years of crash gambling. +More careersRacecourse Media Group CEO Martin Stevenson has stepped down, although he will remain in place until year-end to help with the transition. The company has started the search for his successor. Adam Hope has been promoted to CTO at Entain-owned Angstrom. Prior to joining the firm in September last year he was head of technology at William Hill. Finnish monopoly operator Veikkaus has appointed Andreas Reimblad as vice-president of sports betting. Reimblad was most recently director of sportsbook at Kindred. Caesars buys ZeroFlucsTooling up: Caesars Entertainment has moved to strengthen its OSB proposition by acquiring Australian-based sports-pricing provider ZeroFlucs for an undisclosed fee, in the latest stage of the trading capability arms race.
We liked it so much, we bought the company: Caesars said the buyout followed the successful integration of the ZeroFlucs offering into the Caesars Sportsbook proposition. It added it had already enabled the launch of new “vastly improved” same-game parlay products. What can I say? ZeroFlucs was founded by Steve Gray in 2021. On the news of the deal, he posted on LinkedIn: “I'm normally a man of many words – but they escape me in the here and now.” He becomes Caesars Digital’s senior VP of pricing initiatives. DraftKings/VSiN rumorsGet shot: DraftKings is closing in on the divestment of its Vegas Sports Information Network, or VSiN, back to previous owner Brent Musburger for a dollar, according to the team at EKG. DraftKings bought the multi-platform sports-betting broadcast and content network in March 2021 for $70m, saying it would play a part in the ongoing convergence of sports, sports-betting, media and content production. It followed up in April of that year with a $50m three-year deal with Meadowlark Media to buy the rights to distribute the Dan Le Batard podcast.
Copy that: Any handing back to the previous owners resembles the move made by Penn Entertainment when it gave up on Barstool Sports and sold a business it had bought for ~$550m back to founder Dave Portnoy, again for $1. El Güero Vega, Sea Ice and a Ferrari The story of how we built and launched the world's most sophisticated sportsbook platform in just 31 months, as told by Metric Gaming CEO, Keith Hayes. Read in full here (<6min read) Analyst takes – Las Vegas StripNo vacancies: The closure of the Mirage and the Tropicana will see a near 5% contraction in room supply on the Strip, which the team at CBRE suggested “sets the stage for a favorable rebalancing of supply and demand and a potential earnings catalyst for Strip operators.”
Venture playgroundStartup focus – BetDEXWho are you? BetDEX was founded in late 2021 by former FanDuel colleagues Varun Sudhakar (CEO), Nigel Eccles (chair) and Stuart Tonner (CTO). What’s the big idea? The company seeks “to create a sports-betting ecosystem where customers can simply get their bet on,” says Sudhakar.
What they say: “Sports betting is a massive industry, yet characterized by a poor user experience with high fees, difficulty withdrawing your money, discriminatory restrictions against winners and more. We want to fix that,” says Sudhakar.
Funding backgrounder: The company completed a $21m seed round in Nov21, led by Paradigm. Growth company newsHog heaven: Speaking of Eccles, he posted on X on Friday that his new startup BetHog has just launched in private alpha. Zoot alors! A next-generation sweepstakes offering called Zoot has announced itself via social media. Founder Sean Ryan said he and co-founder John Cahill saw a “great opportunity to bring back the fun, simple gameplay of early Flash games, but to integrate a better revenue model with sweepstakes options for those who participate.”
WagerWire has launched a feature that allows players to buy and sell daily fantasy pick’em entries on its platform. Players can sell lineups to friends or in the open market and make a profit before the ultimate result settles, the company said. Kelly Kehn, who last week confirmed she was leaving her company relations role at HappyHour.io, has joined the board of investee company FUNNZ. Calendar
Kambi Group is the leading provider of premium sports betting technology and services, empowering operators with all the tools required to deliver world-class sports betting and entertainment experiences. The Group’s services not only include its award-winning turnkey sportsbook but also an increasingly open platform and a range of standalone sports betting services from frontend specialists Shape Games, esports data and odds provider Abios, and AI-powered trading division Tzeract. Together, we are limitless. For more info, go to www.kambi.com An +More Media publication. For sponsorship inquiries email scott@andmore.media. |
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EveryMatrix buys FSB
Friday, July 5, 2024
The OSB-to-iCasino provider snaps up rival ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Flush
Tuesday, July 2, 2024
Over $100m in new funding set to wash through the sector ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
And the debate winner is…
Monday, July 1, 2024
Polymarket hits the headlines with Biden drop out market ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Price might be right
Friday, June 28, 2024
Boyd bid 'being taken seriously' by activists, as Penn 'hires advisers' ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Acquire, signal, maneuvre
Tuesday, June 25, 2024
Symbolism outweighs immediate relevance of MGM's Tipico US buyout ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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