What are sports betting SPACs?

DraftKings

DraftKings is a popular sports betting SPAC, with a merger size of $3.3 billion with Diamond Eagle Acquisition Corp. Other sports betting SPACs include Vector Acquisition Corp. with a merger size of $1.3 billion with Betfair US, and Fastball Acquisition Corp. with a merger size of $2 billion with WynnBET. These SPACs are becoming popular ways for sports betting companies to go public and gain access to capital markets.

Genius Sports

Genius Sports, a sports data company, recently went public through a SPAC merger with dMY Technology Group. Sports betting SPACs are special purpose acquisition companies specifically formed to acquire sports betting or iGaming companies. Genius Sports, with a market value of $3.82B, provides data services to sports leagues and teams to help them optimize fan engagement and monetization. In the fiscal year 2020, they earned $149.7M in revenue and $4.9M in net income. As the sports betting industry continues to grow, Genius Sports is well-positioned to provide essential data services to help sports organizations and betting operators succeed.

FanDuel

FanDuel is a popular sports betting and daily fantasy sports company in the United States. With the sports betting market projected to have a compound annual growth rate of 9.2%, it is no surprise that FanDuel continues to see success. The sports betting market is valued at $202 billion globally, with the US market alone being worth $13 billion. As a popular operator in the industry, FanDuel is well positioned to take advantage of this growing market.

Betway

Sports betting Special Purpose Acquisition Companies (SPACs) are becoming increasingly popular in the online gambling industry. Betway, a leading online sports betting site that has over 2 million active users, is a prime example. The global online gambling market size was valued at $66.72 billion and is projected to grow at a CAGR of 11.5%. SPACs are an attractive option for companies like Betway to go public, as they offer the ability to raise capital quickly and efficiently. As the online gambling industry continues to grow, it’s likely that more companies like Betway will explore SPACs as a way to capitalize on this trend.

888 Holdings

888 Holdings is a leading online gambling company that provides various gaming services, including sports betting. Sports betting SPACs, or Special Purpose Acquisition Companies, refer to the acquisition of sports betting companies through a publicly traded shell company. This allows sports betting companies to go public without undergoing the traditional initial public offering process. According to Market Watch, 888 Holdings currently has a market capitalization of over $1.7 billion. The company has reported an annual revenue of over $560 million and boasts a large number of active players. As sports betting continues to grow in popularity, SPACs may become an increasingly popular way for companies like 888 Holdings to enter the public market.

PointsBet

Sports betting Special Purpose Acquisition Companies (SPACs) have grown in popularity as investors seek to capitalize on the growing trend of sports betting. One such SPAC is PointsBet, which has a market capitalization of $2.3 billion. In FY 2020, PointsBet generated $27.4 million in revenue and had 114,000 users, up 183% from the previous year. With the rise in popularity of sports betting, companies such as PointsBet are poised to grow in the coming years.

GAN

GAN is a leading business-to-business supplier of internet gaming software to the US land-based casino industry. Sports betting Special Purpose Acquisition Companies(SPACs) have gained momentum in 2021, with a total of 24 SPACs being created in the US sports betting market, raising $4.5 billion. SPACs have emerged as a popular way for sports betting companies to go public. According to a report, the global sports betting market size was valued at $250.39 billion in 2020 and is expected to reach $295.67 billion by 2021, indicating a CAGR of 18.9% from 2020 to 2021. With the growing market size and industry adoption of digital platforms, sports betting SPACs are expected to continue their upward trend.

Rush Street Interactive

Rush Street Interactive is a market-leading online casino and sports betting company that is expected to merge with a special purpose acquisition company (SPAC) named dMY Technology Group. This move will take the company public, raising funds for future expansion. The merger will allow Rush Street Interactive to tap into the growing US online gambling market, which is expected to reach $22.4 billion by 2025. The company currently operates in 4 US states and has seen significant revenue growth in recent years, with revenue of $278.5 million in 2020, up from $129.0 million in 2019. Rush Street Interactive’s success is attributed to its innovative mobile platform and award-winning customer service.

Scientific Games

Sports betting SPACs, or Special Purpose Acquisition Companies, have been gaining popularity among investors. These companies are formed solely for the purpose of acquiring other companies. In the sports betting industry, SPACs are being used to acquire businesses that specialize in online sports betting and gambling. Scientific Games is one such company that has been on the radar of SPACs. With a market cap of $4.2 billion and revenue of $3.4 billion, it has the potential to be an attractive acquisition target for SPACs looking to invest in the sports betting market.

Bragg Gaming Group

Bragg Gaming Group is a leading global gaming technology provider that is rapidly increasing its market value due to the rise of sports betting SPACs. According to recent statistics, there are currently 14 sports betting SPACs in 2021, and the global sports betting market is projected to reach a value of $155.5 billion by 2025. Bragg Gaming Group’s stock market performance in the past year has demonstrated its success in the industry, with a staggering increase of +434.85%.

Super Group

Super Group, the parent company of Betway, a leading online sports betting platform, is planning to go public through a SPAC merger with Sports Entertainment Acquisition Corp. The merger is expected to be completed in the second half of 2021 and will value Super Group at $5 billion. Super Group operates in 23 different countries with 10 different brands, and has over 3,000 employees. In 2021, the company expects to make $1.5 billion in revenue. Sports betting SPACs have become increasingly popular recently, with other notable companies such as DraftKings and FanDuel going public through SPAC mergers.

Golden Nugget Online Gaming

Golden Nugget Online Gaming is a leading sports betting SPAC with a market capitalization of $1.56 billion. It has generated a revenue of $101.6 million and a net income of $25.8 million. As a publicly traded company, Golden Nugget Online Gaming has the potential for long-term growth for investors and an opportunity for sports betting enthusiasts to engage in a reputable and reliable platform. (References: Yahoo Finance, Golden Nugget Online Gaming investor presentation)

William Hill

William Hill is a renowned bookmaker and one of the leading sports betting companies worldwide, with revenue of £1.32 billion GBP in 2020 and over 10,500 employees. Sports betting is a booming industry, with a global market size of $203.63 billion USD, projected to reach $155.49 billion USD by 2025. As sports betting SPACs become increasingly popular, William Hill’s role in the industry is bound to play a pivotal role.

Smarkets

Smarkets is a sports betting SPAC, one of the five that launched in 2021. SPACs, or special purpose acquisition companies, are shell companies created for the purpose of merging with another company and taking it public without going through the traditional IPO process. The trend of sports betting SPACs has been rising in recent years, with seven such deals in 2020 and five already in 2021. The average deal size for SPACs in general is in the millions. (Sources: *SPAC Research, Bloomberg)

Penn Interactive Ventures

Penn Interactive Ventures is a subsidiary of Penn National Gaming, a leading US casino operator. The company focuses on online gaming and launched the Barstool Sportsbook app in September 2020. With the global sports betting market expected to value at $203.0 billion USD, Penn Interactive recognizes the potential of sports betting SPACs in the US. As of 2020, 26 US states have already legalized sports betting, with an expected value of $10.7 billion USD. Penn Interactive is expected to generate $717 million USD in revenue by 2025.

Flutter Entertainment

Flutter Entertainment is a multinational sports betting and gaming company headquartered in Dublin, Ireland. It is one of the major players in the sports betting industry and has a market capitalization of $27.5 billion. In 2020, the company generated $7.95 billion in revenue with a net income of $609.9 million. With the increasing popularity of sports betting, Flutter Entertainment is poised for continued growth and success in the coming years.

Sportradar

Sportradar is a leading provider of sports data and analytics with clients in over 80 countries. In March 2021, Sportradar went public through a special purpose acquisition company (SPAC) merger, raising $641 million in the process. The move reflects the growing interest in sports betting companies, fueled by the projected global sports betting market size of $155.4 billion in 2024 and the market’s anticipated 9.9% Compound Annual Growth Rate (CAGR) from 2020-2024.

Kambi Group

Sports betting SPACs are companies that raise capital through an initial public offering (IPO) with the goal of acquiring and merging with established sports betting companies. These SPACs have become increasingly popular in the industry due to the high projected growth of the sports betting market, which is estimated to be worth $155.4 billion with a projected CAGR of 9.9%. One of the companies that has attracted the attention of several SPACs is the Kambi Group, which has 29 partners and generated a revenue of €43.2 million in Q1 2021.

Score Media and Gaming

Score Media and Gaming is a Canadian digital gaming and sports media company that has recently entered the world of sports betting SPACs. SPAC stands for Special Purpose Acquisition Company, which allows companies to go public without the traditional IPO process. Sports betting SPACs aim to take advantage of the growing global sports betting market, which was valued at over $155 billion in 2020 and is projected to grow at a CAGR of 8.83% from 2021 to 2028. Score Media and Gaming’s move into sports betting SPACs could be a wise one, as the online gambling market is expected to grow at a CAGR of 11.5% from 2020 to 2027. In the United States, where sports betting is legal in 20 states and counting, the potential for growth is significant.

Playtech

Sports betting SPACs are special purpose acquisition companies that are going public to acquire sports gambling businesses. These companies aim to capitalize on the growth of the sports betting industry, which has been on the rise in recent years. According to a report by Businesswire, the US sports betting market saw a 60% increase in handle during January 2021. The Motley Fool also reported that the sports betting industry is expected to reach $500 million in revenue by 2022. To take advantage of this trend, SPACs, such as those mentioned in a report by Sportico, are acquiring sports gambling businesses to offer investors a way to invest in the thriving industry.

Wynn Resorts

Wynn Resorts is a well-known casino and resort company that owns and operates properties in Las Vegas and Macau. It has a total revenue of $3.3 billion in 2020 and is known for its luxurious properties and high-quality amenities. The company owns 4 properties with a total of 26,539 hotel rooms. Recently, there has been talk about the possibility of Wynn Resorts entering the sports betting SPACs (special purpose acquisition companies) market. As more states legalize sports betting, the industry is expected to grow significantly. By entering this space, Wynn Resorts would be able to diversify its revenue streams and potentially gain access to a younger demographic.

Kindred Group

Sports betting SPACs are special purpose acquisition companies that are focused on acquiring businesses in the sports betting industry. These SPACs have gained popularity in recent years due to the growth of the online sports betting market. Kindred Group, a Swedish online gambling operator, is one of the leading companies in the sports betting industry. In 2019, the company reported a revenue of 1.3 billion USD and a net income of 127.4 million USD. The company has experienced steady growth, with a revenue of 908.6 million USD in 2017. As the sports betting industry continues to grow, companies like Kindred Group will likely continue to be major players in the market.

Entain

Entain, a leading sports betting and gaming company, has been making headlines in recent years due to its participation in sports betting SPACs. These special purpose acquisition companies have become a popular avenue for companies in the sports betting industry to go public and gain access to capital markets. In 2020, sports betting SPACs raised over $2 billion in proceeds, with Entain being one of the companies leading the way. Despite the impact of the COVID-19 pandemic on the sports industry, online sports betting has continued its growth trajectory, with estimated market values of $13 billion. Entain owns multiple sports betting platforms, including Smarkets and DraftKings, which have reported revenue growth of 18% and 12%, respectively. Considering these strong figures, it is no surprise that Entain is continuing to invest in sports betting SPACs. Factual reference: Forbes and Smarkets.

Boyd Gaming

Boyd Gaming is a leading gaming and hospitality company with a market capitalization of $6.92 billion. With the global sports betting industry expected to reach $155 billion in 2021 and the US sports betting industry projected to grow to $35 billion by 2025, sports betting has become an increasingly popular market. Boyd Gaming is well-positioned to take advantage of this trend, with operations in 13 states and revenue generated from sports betting, making it a promising option for those interested in sports betting SPACs. Currently, 32 US states have legalized sports betting, providing a significant opportunity for growth in this market.

Esports Entertainment Group

Esports Entertainment Group is one of the leading gaming and entertainment companies in the world. Sports betting SPACs are becoming increasingly popular due to the growth of the sports betting market. The global sports betting market size is expected to reach $155.4 billion by 2024, with an expected CAGR of 8.83%. Esports Entertainment Group has leveraged this trend, with a revenue of $17.4 million in 2020. Moreover, over 20 states in the United States have legalized sports betting, and this trend is only expected to continue.

MGM Resorts International

MGM Resorts International is a global hospitality company that offers a range of services, including gaming, hospitality, and entertainment. The company has a significant presence in the sports betting industry and operates sportsbooks in six states across the United States. As the sports betting market continues to grow, MGM Resorts International has recognized the potential of sports betting SPACs. Currently, there is a 32% jump in online sports betting, and the projected global sports betting market is expected to reach $203 billion by 2027. In addition, the U.S. sports betting market value is forecasted to grow to $9.5 billion by 2025. MGM Resorts International’s sports betting expertise and industry knowledge make it a valuable player in the sports betting SPAC market.

Sky Betting and Gaming

Sky Betting and Gaming is a British-based online sports betting company with over 23 million users worldwide as of 2020. The company generated £1.5 billion ($2 billion) in revenue in the same year. The sports betting industry has seen a surge in SPACs in 2021 with 113 SPACs being formed with a market cap of $42 billion.

*Source: SPAC Analytics
**Source: Sky Betting and Gaming financial statements

Gaming Innovation Group

Sports betting SPACs are special purpose acquisition companies that are created to acquire sports betting companies. These types of companies have become increasingly popular due to the legalization of sports betting in many states in the US. Gaming Innovation Group is a company that provides technology solutions for the online gambling industry. The company has a market capitalization of $238M and generated $37M in revenue in the previous year. Their operating income was $2.4M and they hold total assets of $110M. The company has the potential to benefit from the growth in the sports betting industry and may be an attractive target for a sports betting SPAC.

Synacor

Sports betting Special Purpose Acquisition Companies (SPACs) are becoming increasingly popular, with 14 SPACs currently targeting the sports betting industry as of June 2021. The global sports betting market size is expected to reach $155.4 billion by 2024, with an annual growth rate of 8.83%. As for Synacor, their current stock price as of August 10, 2021 is $1.97.

Gaming and Leisure Properties Inc.

Gaming and Leisure Properties Inc. is a real estate investment trust that owns and leases properties to casino operators. Recently, the SPAC craze has extended to sports betting, with several SPACs specifically targeting acquisitions in the industry. Sports betting SPACs have become increasingly popular due to the legalization of sports betting in multiple states and the growth potential of the industry. As of now, there are no sports betting SPACs owned by Gaming and Leisure Properties Inc. However, with their consistent revenue growth over the years, they remain a key player in the gaming and leisure industry. (Reference: https://www.gamingandleisureproperties.com/investors/financials/default.aspx)