The price DraftKings was offering isn’t revealed in the article. But Bleacher Report generated US $140 million in sales last year, fell 15% from 2019, and one widely attributed to the sports shutdown forced by the pandemic.

One year can change a lot in these types of negotiations, especially in the situation WarnerMedia finds itself in. The US $43 billion merger with Discovery has analysts wondering if they will divest the assets, with Bleacher Report being a key candidate.

DraftKings is a leading candidate to make a big move in this space for some reasons. The first is strong cash flow. DraftKings is a debt-free company with over US $1 billion on hand to go after any property. 

The second reason is their recent tells in media. Over the past few months, DraftKings agreed on a US $50 million agreement with Meadowlark Media to air “The Dan Le Batard Show with Stugotz” on new SlingTV.

They also purchased VSiN and Information Network. VSiN is a Las Vegas-based sports gambling media company that features names like Brent Musberger and former NFL general manager Michael Lombardi.

Analysts peg these moves as attempts to diversify the gambling companies portfolio and help buoy the stock price. The company tried to purchase The Action Network, and Bleacher Report seems like the next logical target.

Editing by Rachel Hu

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Super Group is not currently licensed in the US but aims to resolve that through an agreement to buy Digital Gaming Corporation. If approved, that would give it access to as many as 10 US states, including Pennsylvania, New Jersey, Colorado, Indiana and Iowa.

Super Group set for US listing with $4.75 billion SEAC merger

The proposed merger with Sports Entertainment Acquisition is the latest example of how attracting the US market has become to gambling companies from other countries.

Established European betting companies like William Hill, GVC, Flutter and others have all staked claims to the fast-growing American market.

“We have established our group as a truly global, scaled and profitable digital gaming business, delivering on our vision to bring first-class entertainment to the worldwide gaming community… This listing will position us strongly to capitalize on the significant global growth opportunities ahead, including in the US.” said Neal Menashe, SuperGroup’s CEO.

Eric Grubman, a former executive vice president of the NFL, will become chairman of Super Group. John Collins, who held executive roles with the NFL and NHL, and was president of the Cleveland Browns, will serve on the board of directors. Both men are part of Sports Entertainment Acquisition’s management team.

Betway keeps expanding partnership with sports teams

Super Group is the parent company of Betway, an online sports betting brand, and Spin, an online casino company. The company is licensed in 23 countries in Europe, the Americas and Africa.

It took in more than $42 billion in wagers in the 12 months leading up to March 2021, and has over 2.5 million active customers.

Betway has more than 60 brand partnerships with teams, leagues and sport personalities around the world, including NBA teams the Chicago Bulls, Golden State Warriors, Brooklyn Nets and Los Angeles Clippers; the English Premier League football team West Ham United and the eSports team Ninjas in Pyjamas.

Editing by Rachel Hu

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Her salary of £421.2 million from the closely held British gambling company makes her one of the world’s best-paid bosses.

Her salary is the largest in British history

According to the Daily Telegraph, the salary paid in 2020 was almost equal to the combined pay for all FTSE 100 chief executives.

Even US tycoons such as Apple’s Tim Cook and JP Morgan’s Jamie Dimon (£98m and £23m, respectively) paled in comparison.

Founded about two decades ago, Bet365 has benefited from the growing popularity of online sports betting. The Stoke-on-Trent based company posted revenue of £2.8 billion for the fiscal year ended March 29, 2020, an 8% drop from a year earlier as the pandemic curbed sports wagering.

Operating profit fell by more than half to 194.7 million, partly due to Coates’ salary increasing from 276.6 million.

 

Coates bought Bet365 web domain 20 years ago

After graduating from Sheffield University with a degree in econometrics, Coates trained to become an accountant and took over a small chain of betting shops her father owned on the side.

She became managing director of the business at age 22 and expanded the number of shops before deciding to shift the business online. She now owns the company with her co-CEO brother John Coates. Coates and her family also own Stoke City Football Club.  

Editing by Rachel Hu

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