Finance
BetMGM posts strong Q3 with growth in iGaming, online sports
BetMGM has “lifted” its full-year earnings guidance after reporting a “strong third-quarter performance boosted by growth in its iGaming and online sports divisions,” according to Najat Kantouar of the WALL STREET JOURNAL. The company now “expects net revenue of at least” $2.75B and EBITDA of around...
Catapult Sports acquires player-scouting platform Impect
Catapult Sports is looking to its latest acquisition, the player-scouting platform Impect, to “help lower-tier soccer teams target the billions of dollars” that the sport’s giants “splurge each year on player transfers,” according to Stuart Condie of the WALL STREET JOURNAL. Catapult supplies perfor...
How analysts are appraising EA’s leveraged buyout
Industry observers and players are waiting for “what’s next” in Silver Lake, the Saudi PIF and Affinity Partners’ leveraged buyout of EA on Sept. 29 for $55 million. The deal turns the PIF from a minority stakeholder (at a little under 10%) to part-owner of the video game giant, whose EA Sports labe...
Prediction market Kalshi raises $300M amid sports betting-fueled growth
Prediction market Kalshi today plans to announce that it “has raised more than” $300M “in a new round of financing at a valuation of” $5B, according to Michael J. de la Merced of the N.Y. TIMES. The company also plans to disclose that it “will start letting customers in more than 140 countries place...
DAZN losses narrow as platform’s owner adds further investment
DAZN losses “narrowed last year” to $936M from $1.4B the year before, according to Daniel Thomas of the FINANCIAL TIMES. DAZN owner Sir Leonard Blavatnik has “pumped a further” $587M into the sports streaming platform, taking his “total investment above” $7B in under a decade. Revenues “increased by...
A closer look at the athlete-turned-investor trend in sports tech
More and more funding rounds are featuring athletes-turned-investors, leveraging their on-field capital into long-term gains. It’s a trend highlighted earlier this year from the noticeable athlete attendance around SBJ Tech Week, and it only continues to manifest with every SBJ Tech Funding Round(up...
Ari Emanuel launches holding company housing former Endeavor assets
TKO Exec Chair & CEO Ari Emanuel has launched a holding company that will “house many of the assets that used to be a part of Endeavor Group Holdings,” according to Alex Weprin of the HOLLYWOOD REPORTER. The company, called MARI, will house a number of tennis tournaments, including the Miami Ope...
Sony acquires GPS wearable company StatSports
Sony has expanded its sports business portfolio by acquiring StatSports, one of the world’s leading GPS wearable technology companies. Terms of the deal were not disclosed. By adding StatSports -- worn by the likes of Premier League stalwarts Liverpool and Manchester City, as well as the NFL’s Comma...
NYSE parent fuels Polymarket with $2B stake
Intercontinental Exchange, the owner of the NYSE, said today that it plans to “invest up to” $2B in Polymarket, a crypto-powered betting site. The deal values Polymarket, “one of the biggest prediction market operators, at about” $8B, “up sharply” from the $1B valuation the company fetched in its la...
Nike’s pivot to wholesale strategy beginning to pay off
Nike’s “renewed focus” on everyday runners and wholesale accounts is a strategy that is “starting to pay dividends after a prolonged slump for Oregon’s biggest company,” according to Matthew Kish of the Portland OREGONIAN. Two years ago, Portland running store Foot Traffic did not “sell Nike shoes.”...
Sponsored content
Quote of the Day
Societally, we’ve changed as well with immediate gratification of everything that’s going on. If you get someone from the portal, they’ve got to make an immediate impact on what’s going on. The coach has more and more pressure on them.-- NC State AD Boo Corrigan, on the recent mid-season hirings of nine college football coaches and the changes within the college football landscape.
PODCAST
SBJ TV
PROPERTIES
