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   Technology StocksDraftKings, Inc. / Online Gambling


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To: Edward Fraser who wrote ()4/12/2021 6:14:30 AM
From: StevenProfitt
   of 233
 
whats next? drugs?

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To: Edward Fraser who wrote ()4/12/2021 7:01:36 AM
From: LarryBerry
1 Recommendation   of 233
 
Yes, in recent years more and more states have legalized casinos, however, such laws are adopted not without the participation of large players in the gambling market. The pandemic also affected the situation, because casino taxes are additional funds for the state, which are clearly not enough now. But it's unlikely to be a blow for online casinos, little will change for major online services such as linkw88moinhat.com. But the tendency to search for additional funds for the treasury is rather negative. Everything that was previously banned is now being revised more and more often.

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To: Glenn Petersen who wrote (175)4/14/2021 10:43:37 AM
From: Glenn Petersen
1 Recommendation   of 233
 
MORE THAN A SPORTSBOOK: IS DRAFTKINGS BUILDING A MEDIA EMPIRE?

POSTED ON APRIL 13, 2021
BY BRAD ALLEN
Legal Sports Report

DraftKings has hired its first ever chief media officer in a move that hints at wider ambitions in the media space.

Brian Angiolet will fill the newly created role. He joins DraftKings at the end of April from his previous role as SVP Corporate Strategy at Verizon.

DK said Angiolet would “optimize content creation and media strategy” in the new role.

‘Virtuous circle’ between content and gaming

DraftKings CEO Jason Robins used an interesting term to describe the nexus within the new role.

“Brian deeply understands how the virtuous circle among sports, gaming, and content has the potential to boost engagement,” said Jason Robins, DraftKings’ co-founder and CEO.

“As our media presence grows with the acquisition of VSiN, among other strategic moves, Brian’s creative ideas and insightful perspectives will further propel the possibilities of DraftKings content.”

More media deals on the way

Beyond the VSiN deal, an Axios report said Angiolet would be looking at further media acquisitions for DK including The Action Network (TAN).

An LSR source with knowledge of the negotiations said that acquisition was a 50-50 shot.

“What TAN has going for them is their parent company [The Chernin Group],” the source said. “Peter Chernin is a great negotiator and he has other assets in his portfolio that DK would want to leverage.”

The Chernin Group also has a stake in The Athletic, although the sports website has an existing betting partnership with BetMGM.

DraftKings still has a very healthy balance sheet for acquisitions after raising $1 billion last month.

DraftKings eyeing a media empire?

As for DraftKings, the release hinted at a future where sports betting is just one revenue stream in a wider media portfolio.

“DraftKings is quickly establishing itself as both a product provider and resource for fans,” the company said.

It referenced integration agreements with Turner Sports and ESPN, as well its own DK Live and DK Nation platforms.

The operator also recently invested in former ESPN chief John Skipper’s new venture Meadowlark Media.

Following that investment, DK said it would work with Meadowlark to deliver “high-quality, original sports programming.”

Around the DraftKings circle

Following these deals, DK could potentially make money from:

Sports betting
Casino
DFS
Subscriptions (VSiN, TAN)
Advertising

Story Link

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From: Glenn Petersen4/15/2021 6:11:04 PM
   of 233
 
NFL picks Caesars, FanDuel, DraftKings for first wave of sports betting partnerships


PUBLISHED THU, APR 15 20215:37 PM EDT
Jabari Young @JABARIJYOUNG
CNBC.com

KEY POINTS

-- The agreements are worth nearly $1 billion combined for five years, with league options after the third and fourth year.

The National Football League is officially open for sports betting, announcing sportsbook partnerships with top companies Caesars, FanDuel, and DraftKings.

The agreements allow the sports betting firms to use NFL intellectual property and use its trademarks for betting promotions. The betting companies will also operate in a content-sharing model with the NFL -- for example, the betting sites will be able to use material such as NFL highlights and Next Gen Stats data, which will help them set betting lines. The firms may create their own promotional content to be featured on NFL properties.

Financial terms were not made available, but according to a person familiar with the agreements, the five-year pacts could be worth just under $1 billion combined over the life of the deal. But the NFL has rights to opt-out after the third and fourth year of the agreements, the person added.

Caesars will keep its league sponsorship as “Official Casino Sponsor” allowing it to leverage NFL trademarks at its casino properties. The company purchased William Hill sports bookmaker for $3.7 billion last September.

Meanwhile, DraftKings and FanDuel get more brand exposure on league media properties, including the NFL Network and NFL RedZone channels.

The agreements fall under tier one deals for NFL, and the league is expected to announce another wave of sports betting partnerships but with lesser content options and more restrictions. The NFL agreed to a data rights deal with Genius Sports earlier this month. Hence, the sports betting companies need to purchase Genius’ data to operate their NFL bets.

The league also agreed to media rights deal in March with partners NBCUniversal, Fox Sports, ESPN, CBS Sports and Amazon. The 11-year deal is worth over $100 billion.

After the announcement Thursday afternoon, DraftKings stock was up 4% to $60 per share in after hours, while Caesars was slightly down at roughly $93 per share.

Story Link

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To: Glenn Petersen who wrote (179)4/19/2021 1:02:21 PM
From: inspbudget
   of 233
 
With the recent news about the NFL deal, I wonder why the stock has been tanking the past couple weeks?

It is now doing a triple bottom at $57, and went below that level this morning.
Any upcoming news or whatever that could be the reason behind this selling trend?

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To: inspbudget who wrote (180)4/19/2021 1:13:05 PM
From: Glenn Petersen
1 Recommendation   of 233
 
Probably collateral damage from the SPAC implosion, although DKNG is far removed from its SPAC origins. It has also become evident that the competition to remain at the top of the national brands is going to be a long and expensive slog. IM HO, they are making all the right moves and I remain a long-term bull.

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From: Glenn Petersen4/19/2021 1:27:23 PM
   of 233
 
EBET is trading at $19,77 this morning, down $5.88.

HOW MUCH DID ESPORTS BETTING COMPANY JUMP AFTER NASDAQ IPO?

POSTED ON APRIL 19, 2021
BY BRAD ALLEN
Legal Sports Report

Esports betting platform EBet Technologies jumped 700% following its IPO on the Nasdaq on Thursday, demonstrating a growing market appetite for both betting and esports.

$EBET debuted Thursday at $6 per share, aiming to raise $14.4 million.

However by pre-market trading Friday, it was up to $46 a share. That’s equivalent to a $585 million market cap.

That is a significant premium to its current financials. Revenue for the fiscal year to September 30, 2020 was $196,000. Net income was -$573,000.

What is EBet?

EBet provides a platform for betting on esports titles like Counter-Strike: GO and League of Legends.

It operates a B2C site called Gogawi, focused on Asia and Latin America.

It also offers its technology as a B2B product.

Esports betting in the US?C

EO Aaron Speach said the company was “in the process” of getting into the US but not rushing because of the current regulatory environment.

Esports betting is still tiny in the US. Nevada allows wagers on approved events, while New Jersey could be close to widespread legalization.

EBet recently added Dennis Neilander, former chairman of the Nevada State Gaming Control Board, to its board to help its US ambitions.

Out with the old …Speach said the long-term market was potentially enormous.

“There were 500 million esports viewers in 2020,” he said. “Meanwhile the NFL has an audience of 160 million and they generated $64 billion in legal wagers. So you can see how big the opportunity is.”

Esports bettors are also a much younger demographic than traditional bettors. As a result, EBet sees an opportunity to acquire customers without having to compete directly with heavyweights like FanDuel and DraftKings.

Instead, Speach pointed to companies like GG.Bet and Esports Entertainment Group ($GMBL) as more direct competitors.

“There’s tons of growth ahead, “ Speach predicted. “We’re really excited to bring esports to the forefront and we’re going to crush it in 2021.”

Story Link

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From: Glenn Petersen4/21/2021 4:47:39 PM
   of 233
 
The dMY Technology Group (DMYD)/Genius Sports Group (GENI) deal closed yesterday.

DMYD closed at $16.21 yesterday. GENI closed at $19.78 today, up $3.57.

The press release: GSG-Galileo-De-Spac-Close-Press-Release-4.19.2021.pdf (dmytechnology.com)

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From: Glenn Petersen4/26/2021 10:45:10 AM
   of 233
 
Another online sports gaming company is going public. Sports Entertainment Acquisition Corp. (stock symbol: SEAH), a SPAC that raised $450 million when it went public in October 2020, has agreed to merge Super Group, "...the holding company for global online sports betting and gaming businesses Betway, an online sports betting business, and Spin, a multi-brand online casino offering."

Blank Check IPOs (SPACS) Message Board - Msg: 33296729 (siliconinvestor.com)

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From: Glenn Petersen5/1/2021 8:57:41 AM
   of 233
 
FLUTTER TO EXCLUDE ‘STRUGGLING’ FOX BET FROM POTENTIAL FANDUAL IPO

POSTED ON APRIL 29, 2021 - LAST UPDATED ON APRIL 30, 2021
BY BRAD ALLEN
Legal Sports Report

A potential FanDuel US public listing would not include Fox Bet and PokerStars, Flutter announced Thursday.

It is another sign Flutter is not backing down from its ongoing dispute with Fox.

The two companies are about to start an arbitration process over the value of a 2021 option that allows Fox to buy an 18.6% stake in FanDuel.

What is the beef between Fox and FanDuel?

In short, Fox thinks it can exercise the option at a cheaper price, while Flutter has said the valuation will be based on “fair market value.”

Flutter said the appointment of the arbitrator was almost finalized, suggesting the process will start soon.

As part of the pre-arb maneuvering, Fox threatened to remove FanDuel ads from its networks. It also threatened to withhold the Fox Bet/PokerStars assets from a potential FanDuel IPO.

Relative strength ahead of FanDuel IPO

But Flutter dismissed the impact of that in its Q1 earnings call on Thursday.

Firstly, it published the FanDuel/Fox Bet splits for the first time, reflecting the relative strength of the two businesses. FanDuel Group accounted for 91.6% of Flutter US revenues in Q1. Fox Bet and PokerStars came in at 8.4%.

Across the full FY20, FanDuel Group did $800 million in revenue vs $96 million for the Fox Bet assets.

Meanwhile FanDuel did $-148 million EBITDA compared to $-71 million for Fox Bet. Those economics strongly favor FanDuel Sportsbook.

Scale is king“

FanDuel creates tremendous embedded value,” Flutter CEO Peter Jackson said. “The customer acquisition costs compared to lifetime value are very good. We get better operating leverage as we push more volume.

“Contrast that to Fox Bet, which is struggling. The product is not as good because we still have to use the legacy Stars Group sports betting platform. Customer acquisition is lower on the sports side. Fixed costs are higher. As a result, we don’t get the same benefit from operating leverage.

Jackson added: “It gives us visibility to what it’s like for smaller competitors chasing us down in the states. It’s hard.”

Plenty more advertising partners in the sea

Flutter also played down the importance of losing Fox as an advertising partner.

CFO Jonathan Hill said: “Fox is not a huge component of marketing spend for FanDuel. FanDuel was successful before the merger when Fox became a partner. While we are highly supportive of Fox, FanDuel is not overly reliant on that channel for marketing.”

In short, it seems Flutter is willing to fight its corner in arbitration and risk losing Fox as a partner in the future.

FanDuel IPO is a huge prize

That is an easier risk to take given the size of the spoils. A public FanDuel could be worth around $30 billion, analysts think.

”The clear message is Fox Bet needs FanDuel, not the other way around,” said one London analyst, who asked not to be named.

To be clear, the FanDuel IPO is still not certain. Flutter said the listing of a “small part” of FanDuel Group was still under consideration and no final decision had been made.

Fox sees it differently

Of course, the picture is different from Fox’s point of view. Sources close to the company said a FanDuel valuation would be signicantly harmed by the legal overhang of the arbitration.

It’s also worth noting Fox Bet is still a $100 million revenue brand despite its current inferior product. That would bolster any valuation. And PokerStars and Fox Super 6 are the leading products in their respective fields.

“They would be IPO’ing a significantly weakened business without the Fox assets,” the source said.

FanDuel still going full speed in US

Elsewhere, the Q1 results painted a positive picture for Flutter’s US division.

Revenues grew 135% to $396 million. The company added 900,000 new customers in the quarter, taking average monthly players to 1.6 million. FanDuel/Fox Bet combined recorded a 36% share of the online sportsbook market during Q1.

Flutter’s share price was relatively unchanged following the update.

Flutter To Exclude 'Struggling' Fox Bet From Potential FanDuel IPO (legalsportsreport.com)

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