FanDuel partner Entercom has acquired direct-to-consumer sports betting technology and analytics leader QL Gaming Group in an all cash deal for approximately $32 million.
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The acquisition brings unrivaled data, analytics and insight-driven content to Entercom’s best-in-class sports broadcast stations, influential podcasts and RADIO.COM, the fastest growing digital audio platform in America.
“As the sports betting marketplace continues to grow exponentially, the acquisition of QL Gaming Group is a perfect fit for our unrivaled sports audio platform,” said David Field, Chairman, President and Chief Executive Officer, Entercom. “Integrating QL’s analytics and content with our sports brands enables us to deliver unparalleled experiences for sports fans. The acquisition builds on our track record of digital growth and further enhances our direct-to-consumer technology portfolio with data and analytics capabilities, while also adding an innovative new subscription offering to our platform.”
Justin Park, Co-Founder and Chief Executive Officer of QLGG, will continue to lead the business reporting to Mike Dee, President of Sports, and J.D. Crowley, Chief Digital Officer. In 2021, under the company’s first full year of ownership, QL Gaming Group is expected to generate approximately $12 million in revenue with an EBITDA margin in the high 20s.
“We are thrilled to be joining the leading sports audio platform, bringing our betting insights and expertise to such a loyal and dedicated fan base,” said Justin Park, Co-Founder and Chief Executive Officer, QLGG. “Between our capabilities to make bettors better and the influence Entercom’s platform provides, we can now offer a wholly unique proposition to the sports enthusiast that is second to none.”
– Aaron Goldstein, Gambling911.com