Earnings+More - Under the radar
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Making wavesFliff you can keep your head: The social sportsbook operator Fliff is thought to have got off to a flier with the start of the NFL season and is seeing its valuation soar as it takes advantage of its non-regulated status in states such as California and Texas.
Me? Worried? The industry source suggested it is the operator that the top two in the OSB space, FanDuel and DraftKings, are “most worried about.”
Who’s at the table? Fliff embarked upon a Series A funding round in 2022 led by Raine and with the participation of Courtside Ventures, Play Ventures and Acies Investments. Sources indicated it raised ~$12m for a $60m valuation.
Stick to the knitting: Speaking to E+M, Fliff CEO and founder Matt Ricci dismissed the potential for a sale at the moment. “That is not something we’ve discussed internally or are actively considering at this time,” he said.
Competitor set: Fliff falls into the category of social sportsbook along with a small phalanx of competitors including Sportzino, which is the sportsbook arm of sweepstakes operator Blazesoft, and Thrillzz. Defense: Fliff was recently one of the launch partners of the sweepstakes lobbying organization, the Social and Promotional Gaming Association, and Ricci defended the regulatory status of social sportsbooks.
Seamless Onboarding, Happy Players. It's That Simple. Experience the perfect balance between stringent identity verification and effortless onboarding with IDComply, a groundbreaking solution from GeoComply. Take your pass rates to new heights and shield your business from fraudulent activities. +MoreDo your Zuums: The Oaktree-owned electronic table gaming provider Interblock has acquired a majority share in its rival producer Zuum for an undisclosed sum.
A presentation for GiG’s Platform spin-off highlighted the potential of the sweepstakes market, suggesting it could tap into a $6.9bn opportunity by 2025. GiG Platform will separate from the affiliate business Gentoo Media later this month.
BetMakers and SIS have signed an agreement with regard to the distribution of race data and video content for clients in Australia and New Zealand. On the lookoutIn Compliance+More tomorrow, Brazil says it will be suspending operators that have not yet applied for authorization to launch in January. And MLB’s Player Association is suing sports-betting and fantasy operators, including DraftKings and FanDuel, claiming operators are wrongfully using player images without a license. What we’re readingHard yards: Experts cast doubt on Wynn’s New York casino jobs claims. Splashing outLevers to pull: Flutter Entertainment has a “solid roadmap” of overall market growth in Italy, the further migration to online and scale benefits to drive incremental synergies beyond the headline numbers of the €2.3bn acquisition of Snaitech announced yesterday, suggested the analysts at JMP.
Buy not build: The JMP team noted the “route of M&A provides more certainty for future success” than relying on organic growth alone to acquire market share and expand EBITDA margins in any given market.
Rolling in itSale force: On the other side of the deal, analysts were quick to applaud Playtech’s management for achieving the sale at a “substantial premium” of 9x vs. the 5.6x the company achieved when it bought Snaitech in 2018 for €846m.
By the numbers – MichiganMarginal gains: More evidence of BetMGM’s success in gaining GGR market share, arguably due to the improvements brought to its margin performance by the utilization of Angstrom, comes with a 300bps+ improvement in Michigan.
Recall, in the New York NFL week 1 data published late last week, BetMGM enjoyed 24% of GGR growth compared to declines for its top two rivals.
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Light & Wonder: After meeting with management, the team at Jefferies noted the company’s emphasis on what it sees as the social gaming opportunity and how that plays into the guidance for 2025, with the “burgeoning” direct-to-consumer offering likely to be a “driver of continued momentum.”
Venture playgroundLearn first-hand experiences from gaming founders on high-growth tips and network with the most influential investors, founders and leaders. Click here to register. Growth company newsUnited we stand: A new platform provider called United Interactive, founded just last year, has announced itself to the world alongside a new B2C betting brand called Bet United. Founder and CEO of the India and US-based company is Bunty Doshi.
Startup focus – Fantasy Sports EVOWho are you? Fantasy Sports EVO was founded in 2020 by New Jersey resident Mark Hazen, president and head of technology and development. He was joined in the following year by Tara Kovatch, VP of player accounts and daily operations, and Debra Kovatch, CMO. What's the big idea? Fantasy Sports EVO is a “truly unique” daily fantasy sports app, where users pick teams not players to build a lineup, says Hazen. “This innovative approach makes DFS less intimidating for new players and less time consuming.”
Funding backgrounder: EVO has been self-funded by its initial group of investors, but is gearing up for the next round of capital raising. Join 100s of operators automating their trading with OpticOdds. Real-time data. Proven trading tools. Built by experts. Meet us at SBC Lisbon & G2E Vegas. Join top operators at www.opticodds.com. Events calendar
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Older messages
The Italian job
Tuesday, September 17, 2024
Flutter announces €2.3bn Snai acquisition ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Ill omens
Monday, September 16, 2024
ESPN Bet's start to the NFL season not going to plan ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Grande Nacional
Friday, September 13, 2024
Flutter announces agreement with NSX in Brazil ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Lucky General
Thursday, September 12, 2024
Entain's new CEO joins with a following wind ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
Watered down
Monday, September 9, 2024
Penn bid would be dilutive unless it monetizes Flutter stake, say analysts ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
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