Sports betting data provider Sportradar plans to IPO in New York

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Gaming Industry Update

Gaming data provider Sportradar Group is planning an initial public offering in New York to seek expansion supported by the legalization of sports betting in the fast-growing US market.

Carsten Koerl, CEO and founder of the Swiss-based company, said in a statement that as sports become more digital, new betting markets such as the United States are one of “many” growth opportunities.

“The global pandemic has accelerated this process [digital] Transformation,” said Koerl, who is also the co-founder of Bwin, a gaming operator now owned by the FTSE 100 gaming group Entain.

As gambling groups seek to provide more gambling opportunities, rather than simply predicting final results and scores, data surrounding gameplay becomes more and more important. Therefore, the focus is shifting to companies that can collect, refine, and distribute data to media companies and gaming operators.

Sports teams are increasingly using data to evaluate players and strategies, and fans are also seeking more analysis when watching and betting.

The financial details of the Nasdaq Global Select Market listing plan led by JPMorgan Chase, Citigroup, Morgan Stanley and UBS have yet to be confirmed.

According to people familiar with the matter, the decision to go public through a traditional IPO was made after negotiations for the listing through Horizon Acquisition Corp.

Sportradar’s existing investors include the Canadian Pension Plan Investment Board and Technology Crossover Ventures, as well as billionaire Ted Leonsis, Mark Cuban and former basketball star Michael Jordan.

The company’s customers include gaming operators Bet365 and Entain, which signed a 10-year gaming data and media rights agreement with the North American National Hockey League last month. As part of the IPO, the league has been granted the right to purchase shares. Major League Baseball is also a client of Sportradar.

The planned IPO comes after rival Genius Sports went public on the New York Stock Exchange in April through a $1.5 billion merger with blank check company DMY Technology Group.

Genius and Sportradar hope to benefit from U.S. Sports Betting IndustryA 2018 Supreme Court ruling overturned the federal ban on this practice, which is rapidly expanding.

The two companies had previously Data rights The English Premier League football game has recently been acquired. Sportradar acquired Atrium Sports in May for approximately 200 million euros, which provides data and analysis of college and professional sports; in the same month, Genius acquired the Premier League partner Second Spectrum for US$200 million.

Sportradar’s revenue in the first half of this year was 272 million euros, compared with 191 million euros in the corresponding six months of the same period last year. Its net profit in the first half of the year fell by 2.5 million euros to 17.7 million euros year-on-year, and Genius said in May that its total annual revenue in 2021 is expected to be between 250 million and 260 million US dollars.

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