Entercom Communications Corp. (NYSE: ETM) closed the acquisition of QL Gaming Group (QLGG), a sports data and iGaming affiliate platform, in an all cash deal for approximately $32m.
The acquisition aims to take data, analytics and insight-driven content to Entercom’s sports broadcast stations, podcasts and Radio.com, its digital audio platform.
Led by Justin Park, Co-Founder and CEO, who will continue to lead the business reporting to Mike Dee, President of Sports, and J.D. Crowley, Chief Digital Officer, QLGG is a direct-to-consumer sports data and iGaming affiliate platform which operates a technology portfolio which includes:
- BetQL, which is a sports betting app offering sports betting data and analytical capabilities,
- RotoQL, a daily fantasy sports platform,
- AccuScore, a provider of simulation-based sports outcome predictions and game forecasting capabilities, and
- TennisInsight.com, which offers analytical coverage of the ATP and WTA Tours.
They all have their respective subscriber base and licensing opportunities.
In details, BetQL’s app, which offers sports betting through a proprietary algorithm and advanced analytics, delivering direct-to-consumer data, will now be amplified across Entercom’s sports audio portfolio reaching nearly 30 million sports fans monthly. The new subscription-based offering simplifies sports betting, giving users access to real-time sports data and news across any device, speaker or screen, improving the overall sports experience.
In 2021, under the company’s first full year of ownership, QL Gaming Group is expected to generate around $12m in revenue.
Led by David Field, Chairman, President and Chief Executive Officer, Entercom Communications is the creator of live, original local audio content in the U.S and provider of local radio sports and news featuring a large collection of podcasts, digital and broadcast content, and premium live experiences available on every device in every major U.S. market. The company currently engages over 170 million consumers each month.
FinSMEs
10/11/2020