Ashley Rodriguez’s Post

In a surprising turn of events, DraftKings Inc. announced on June 28 that it will no longer pursue the acquisition of the US business of PointsBet Holdings Ltd. DraftKings expressed its gratitude to PointsBet for their time and cooperation during the process. The collapse of DraftKings’ attempt to buy PointsBet has opened the door for another prominent player in the industry. Fanatics, Inc., a well-known sports merchandise retailer, is now set to become the new owner of PointsBet’s American arm. Fanatics had initially agreed to a deal worth approximately $150 million to acquire PointsBet. However, in response to DraftKings’ last-minute bid, the offer was increased to $225 million. This is not the first time DraftKings has withdrawn from a major deal. In 2021, the company cancelled its proposed $22 billion acquisition of Entain, the owner of Ladbrokes, due to regulatory concerns. It seems that similar concerns may have played a role in the collapse of the PointsBet deal. Read the full article ➡ https://lnkd.in/d52QSgXA #b2b #mergersandacquisitions #sports #business #gambling #gamblingnews

Fanatics, Inc. a sports platform company, revealed late Tuesday that it has increased its offer for PointsBet’s US business by 50% to $225 million, outbidding DraftKings Inc. (NASDAQ:DKNG)’s non-binding offer of $195 million. The #PointsBet board unanimously recommended the sale to #Fanatics, after #DraftKings reportedly was “unable” to finalize a new bid before the deadline, Sportico reported.   Should the deal be formally approved by PointsBet shareholders and regulators, it will give Fanatics much needed US real estate in the 15 US states where they operate, according to CNBC. “Our US team will have a strong future as part of the Fanatics Betting and Gaming group and PointsBet will build on the opportunities in Australia and Canada underpinned by a strong balance sheet,” PointsBet chairman Brett Paton said in a statement. More at #Proactive #ProactiveInvestors http://ow.ly/XY0y104MfRH

Today’s weekend edition of Earnings+More features an excellent selection of global iGaming opportunities presently available at BettingJobs. 🌎   Subscribe to Earnings+More for your regular dose of news, views and insights affecting the global betting and gaming sector. 🔔

Gambling.com Group CEO Charles Gillespie shares on Nasdaq three catalysts that he believes will meaningfully change U.S. investors' perception of the U.S. sports betting industry in the near term. Gillespie: "The fundamental investment case for U.S. sports betting is changing. Five years ago it was a greenfield opportunity, and all focus was on revenue and market share. With the market maturing and the cost of capital skyrocketing, investors have rightly shifted focus to profitability and cash flow." Full article here: https://lnkd.in/g_ytB7gZ

Checkd Group has reported successful trading for 2022 as the Manchester-based betting media publisher detailed a strong increase in revenue, bolstered by an expansion of its international presence. 📈🌍 Alex Beecham, Checkd Group Managing Director (MD), said: “The growth we are seeing domestically and in North America is credit to the team setup within the Group. We’re continuing to scale the team and operations in each division following the momentum last season. 💪👥 “We are forecasting similar growth levels this year with new states opening in North America for operators, the Euros this summer ⚽☀️, and additional betting tech solutions for partners launching.” 🚀🤝 #Checkd2022 #SBCNews #SportsBetting #Results2022 #EuropeNews #GamingIndustry #OnlineGambling #BettingTrends #Sportsbook #GamingInsights #SportsBetting2022 #EuropeanMarket #GamblingNews #IndustryReport #CheckdResults #GamingAnalysis #EuropeanGaming #SBC2022 #GamingBusiness #BettingStatistics #SportsBettingData #CheckdAnalysis #EuropeanMarketTrends #SBCInsights #GamingUpdates Read More⬇️ https://lnkd.in/eiuVjmMw

📈 We've seen the costs of player acquisition and retention skyrocket over the last few years, but is there a way that betting and gaming companies can offset these costs? 🗣 In a roundtable discussion with Enteractive CBO Andrew Foster, Rhino Entertainment Group CEO Ross Parkhill, Rootz LTD CEO Sam Brown and Fast Track CEO Simon Lidzén, we discuss some of the pitfalls that face operators when it comes to retention before outlining the ways the industry can recoup some of those initial acquisition costs.