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☆ Fanatics to start livestreamed shopping of trading cards, collectibles
▼ + stars: | 2023-02-02 | by ( Ian Thomas | ) www.cnbc.com time to read: +7 min

The Washington Post | Getty ImagesFanatics is moving into livestreamed shopping around collectibles and trading cards, hiring a former Snap and Alphabet executive to launch its new business later this year. Fanatics Live, which will have a standalone app and a coinciding website, plans to launch in the second half of 2023. Only 31% of U.S. adults have even heard of live shopping, with just 22% saying they've participated in a live shopping event, according to a December poll by Morning Consult. Ebay, which said it saw trading card sales increase 142% in 2020, acquired trading card marketplace TCGPlayer for $295 million in August. While Fanatics Live could move into other forms of entertainment and collectibles over time, it will solely focus on trading cards initially.

☆ Penn's sports betting business posts head-turning fourth quarter profit
▼ + stars: | 2023-02-02 | by ( Contessa Brewer | ) www.cnbc.com time to read: +3 min

Penn Entertainment on Thursday became the first U.S. gambling company to post a profit in its sports betting business during the final three months of a year. Usually, it's tougher to turn a sportsbook profit during the third and fourth quarters because companies spend more on marketing and promotions during football season. Penn's interactive business, which also includes online casino games, made a $5.2 million profit on $208 million in revenue during the fourth quarter of 2022. Caesars also took a hit from Mattress Mack's baseball bet, which blocked its own ability to turn a profit in sports betting in the fourth quarter, according to results pre-released as a result of a debt refinancing. Still shares declined Thursday, after CEO Jay Snowden, on an earnings call, blamed overall lackluster fourth quarter earnings on bad weather in December.

☆ This startup helps gamers get better at sports games like F1 and FIFA. Check out the 13-slide pitch deck Titan Academy used to raise $1.8 million.
▼ + stars: | 2023-02-01 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

A startup that helps gamers become better at sports games like FIFA and F1 by analyzing their own player data just raised $1.8 million in seed funding. London-based Titan Academy was founded by Max Teichert, a racing instructor for Porsche who was also a Gran Turismo Academy finalist in 2014. "By taking players' game data and analyzing it in the cloud, we help them get better," Teichert told Insider. "Currently, we have a platform for racing games in the market and the first-ever FIFA analytics platform in development." With the fresh funds, the startup will further expand its racing games platform, and also launch the first-ever FIFA analytics platform.

☆ DraftKings cuts 140 jobs as part of reorganization
▼ + stars: | 2023-02-01 | by ( Contessa Brewer | ) www.cnbc.com time to read: +1 min

The entrance from the elevators, designed to resemble a tunnel entering a stadium, is pictured at the new DraftKings office in Boston. DraftKings is eliminating 140 jobs, or about 3.5% of its workforce, as part of a reorganization. DraftKings said it's shifting investment from business-to-business into mobile developments. DraftKings also said roles are being eliminated in the U.S and internationally, but primarily in its Europe, Middle East and Africa segment. Earlier this week, DraftKings and Molson Coors announced a partnership related to their Super Bowl ad.

☆ Molson Coors and DraftKings team up to let fans bet on 'high stakes' Super Bowl ad
▼ + stars: | 2023-01-30 | by ( Stefan Sykes | ) www.cnbc.com time to read: +3 min

The partnership marks Molson Coors' return to the Super Bowl after a hiatus of 33 years, according to the company. That agreement ended in 2022, and Molson Coors is making a splashy return to the advertising event with an ad campaign specifically leading up to its Super Bowl spot. during the Super Bowl ad. Multiple endings have been filmed, and even Molson Coors' CEO doesn't know how the commercial will end, they said. Correction: This article has been updated to correct how long Molson Coors has been unable to advertise during the game.

☆ NFL agent Drew Rosenhaus discusses sports betting
▼ + stars: | 2023-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNFL agent Drew Rosenhaus discusses sports bettingDrew Rosenhaus, NFL agent, joins 'Squawk on the Street' to discuss his thoughts on sports betting heading into the Super Bowl.

☆ Bank of America reveals its top stocks ahead of earnings, including a favorite solar name
▼ + stars: | 2023-01-28 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

There still are plenty of stock-buying opportunities as earnings reports continue to roll out, according to Bank of America analysts. CNBC Pro combed through Bank of America's recent research to find the most attractive stocks that are well-positoned ahead of their reports. Fox Buy shares of the "best positioned" company in media, analyst Jessica Reif Ehrlich said recently about Fox . "We find Grab well positioned to balance revenue growth with profitability in both its core businesses— delivery & mobility," Salgaonkar said. Thesis: 1) We find Grab well positioned to balance revenue growth with profitability in both its core businesses - delivery & mobility.

☆ For Super Bowl Ad, Coors Light Brewer Taps Into Online Sports-Betting Appetite
▼ + stars: | 2023-01-27 | by ( Suzanne Vranica | ) www.wsj.com time to read: 1 min

An ad from Molson Coors announcing that it is teaming up with online sports-betting company DraftKings. Molson Coors Beverage Co. is seizing on the popularity of online sports betting to generate buzz during Super Bowl LVII, as the maker of Coors Light and Miller Lite returns to the big game after a 33-year hiatus. The Chicago-based company had long been kept out of the Super Bowl because rival Anheuser-Busch InBev NV had exclusive rights to be the sole alcohol brand to be featured during the game, which it gave up last year. In anticipation of its return, Molson recently ran print, online and outdoor ads asking consumers which of its two light beers—Miller Lite or Coors Light—deserves the brewer’s coveted Super Bowl spot.

☆ Italy's Lottomatica eyes IPO as Q4 core profit rises at least 7%
▼ + stars: | 2023-01-25 | by ( Elisa Anzolin | ) www.reuters.com time to read: +2 min

It said preliminary results for 2022 showed that it had collected 22.8 billion euros in bets, with revenue of around 1.4 billion euros and earnings before interest, tax, amortisation and depreciation of 458 million-462 million euros. Pro-forma EBITDA stands at 516 million-520 million euros in 2022 when taking into account the acquisition of Italian remote gaming and betting collection company Betflag, which Lottomatica completed in November. Apollo Global Management entered the Italian gaming business in 2019 when it bought a large stake in Gamenet and proceeded to buy out other investors and delist it the next year. The private equity firm invested a further 950 million euros in the sector the following year when Gamenet acquired IGT's (IGT.N) Italian gaming machine, sports betting and digital gaming businesses. These businesses were housed in two companies dubbed Lottomatica Videolot Rete and Lottomatica Scommesse, with a valuation at the time of around 1.1 billion euros including debt.

Fanatics is in discussions to acquire the BetParx sportsbook, as the sports merchandising company looks to take a bigger position in sports betting, according to people familiar with the matter. Representatives for Fanatics and BetParx declined to comment. Fanatics has been seeking a deal in the sports betting space for some time. The company is opening Fanatics Sportsbook at FedExField, the stadium of the NFL's Washington Commanders. Last year, Fanatics' billionaire executive chairman Michael Rubin sold his 10% stake in Harris Blitzer Sports Entertainment, the owner of the Philadelphia 76ers and New Jersey Devils, allowing Fanatics to enter the gambling space.

☆ FuboTV insiders describe how its 'doomed' sportsbook collapsed in a year — and what it means for the future of the streaming company
▼ + stars: | 2023-01-19 | by ( Colin Salao | Ashley Rodriguez | ) www.businessinsider.com time to read: +22 min

But despite the MetLife lounge remaining open throughout the 2021-22 NFL season, the Fubo Sportsbook wouldn't launch in New Jersey until the following one, in September 2022. "It was doomed from the start," one former Fubo Gaming staffer told Insider. Meanwhile, Rattner — whom the first former Fubo gaming staffer described as a "good talker" — sustained the startup's more youthful culture. The Fubo Sportsbook launched in New Jersey on September 7, days before the first Jets home game. A promotional image from when the Fubo Sportsbook went live in New Jersey in September 2022.

☆ How to play the gaming industry, with Macquarie's Chad Beynon
▼ + stars: | 2023-01-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to play the gaming industry, with Macquarie's Chad BeynonChad Beynon, senior analyst at Macquarie, joins 'Power Lunch' to discuss technological developments driving online sports betting, the impact digital betting could have on Vegas' casino landscape and skepticism about the return on investment from Macau's gaming sector.

☆ Top DAZN exec reveals how the streamer is gearing up to super-serve fans in 2023, moving beyond boxing, and betting big on women's sports
▼ + stars: | 2023-01-12 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +8 min

We've also invested heavily in women's boxing. You are starting to see real, meaningful growth in women's sport now and that comes in different forms. The professionalism of the production in women's sport, we've been central to driving that forward. In the US, boxing fans in this country are disproportionately Hispanic relative to the wider population. The real business for us is the ongoing monthly subscription relationship that we have with boxing fans in this country, or soccer fans in Germany or Italy, and baseball fans in Japan.

☆ FanDuel's Amy Howe tries to balance pragmatism, humility, and profitability — all while being a trailblazer in a male-dominated industry
▼ + stars: | 2022-12-28 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

As the CEO of FanDuel, Amy Howe accomplished a feat this year that so far no other US sports-betting platform has been able to achieve: profitability. Seeking constant innovationThis year Howe launched FanDuel TV, a 24-hour television network, which features a mix of studio programming and live sports. She also sealed deals with the WNBA and the New York Yankees, making FanDuel the official sportsbook partner and official daily fantasy partner for the league and team. At the SBC Summit North America trade show and conference this year, she described the female market as an "untapped opportunity" and detailed a number of FanDuel's initiatives to bring more women bettors into the fold. "We're always a little bit paranoid about making sure that we can continue to maintain that position," Howe told Insider last year.

Insider's second-annual list of the Most Transformative CEOs features three executives who are leading innovation in their industries. These CEOs are devising new ways to serve a range of interests, including clients, employees, and investors. At FanDuel, Howe has brought more women into the industry. ROSALIND BREWER, the CEO of Walgreens Boots AllianceRosalind Brewer, the CEO of Walgreens Boots Alliance. BRIAN NICCOL, the CEO of ChipotleBrian Niccol, the CEO of Chipotle.

☆ 5 top sports-betting execs share what they got right and wrong about the industry this year and their predictions for 2023
▼ + stars: | 2022-12-23 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +2 min

Betr founder and CEO Joey Levy thought we'd see more M&A this year, but says it's a preview for what we'll see more of in 2023. Betr founder and CEO Joey Levy. Simplebet cofounder Joey Levy is banking that the "idea of making every moment in a sporting event an accessible betting opportunity," which is known as microbetting, is the future of US sports betting. His predictions for 2023: "2022 is a good preview for what you're going to see a lot more of in 2023. I also think we'll see a lot of focus on product innovation.

☆ Fanatics salaries: Pay data shows how much the merch giant offers for tech and other jobs, as it expands into sports collectibles, betting, and more
▼ + stars: | 2022-12-21 | by ( Ashley Rodriguez | Colin Salao | ) www.businessinsider.com time to read: +12 min

Recent work-visa data shows how much the company offers to pay certain staffers. Salaries in the data ranged from $57,100 to $233,200 for mainly tech jobs in its retail division. It included base salaries for mainly tech jobs in the retail division, ranging from a data engineer position that would make $110,000 per year to a director of product management that would earn between $201,968 and $231,750 per year. For example, the data included a pay rate of $125,486 to $130,000 for an experimentation strategist position. Here were the salaries for jobs at Fanatics SPV:Director, Influencer Relations : $195,042 to $200,000: $195,042 to $200,000 Senior Platform Engineer: $144,726 to $165,000This story has been updated to reflect the latest available data.

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☆ Sports betting operator BetMGM hit by data breach
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

Dec 21 (Reuters) - Sports betting service BetMGM said on Wednesday personal information of its customers were obtained in an unauthorized manner, but did not specify the number of users affected. The issue affected customer information such as name, contact information, date of birth, hashed Social Security number, account identifiers and information related to transactions with BetMGM, the company said. BetMGM did not immediately respond when asked about the number of customers impacted by to the breach, which it believes occurred in May this year. BetMGM's online operations were not compromised, the company added. Last month, sports-betting firm DraftKings Inc (DKNG.O) also reported a security issue wherein login information of some customers was compromised on other websites.

☆ Disney should spin off ESPN and ABC, analyst says
▼ + stars: | 2022-12-20 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But one Wall Street analyst has an idea for how Disney could get back on track. Wells Fargo’s Steven Cahall thinks Disney should spin off cable sports giant ESPN and traditional TV network ABC… two slow-growth (and some would argue, dying) businesses. Cahall wrote in his report that “we think Bob Iger is returning to {Disney] ready to make big changes. ESPN, in theory, may have an easier time negotiating with sports leagues as part of a pure play media network. “We think ESPN and ABC are integrally linked as the broadcast [network] improves negotiations in sports rights, and we’re seeing more of those sports on both networks,” he wrote.

☆ Nearly half of sports gamblers like those who bet on the World Cup still do it illegally, and it's costing your state millions in tax revenue
▼ + stars: | 2022-12-19 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

It's costing state government millions in tax revenue. Illicit sports betting — and illegal gambling more broadly — is costing states millions in tax revenue, and someday, taxpayers could be called upon to foot part of the bill. Illegal sports betting is costing them millions in tax revenue — an estimated $700 million in total revenue per year, per the AGA report. Legalization has been a boon for states' tax coffers, and is among the reasons many states' tax revenues have fully recovered from a pandemic dip. Others may simply have grown used to illegal operators and not want to switch as a result.

☆ The biggest media targets and buyers in 2023, as speculation swirls around Disney's next move under CEO Bob Iger and how Warner Bros. Discovery can shed debt
▼ + stars: | 2022-12-19 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

Continued pressure to get bigger has big media companies in Hollywood looking to scale up. Media bankers and investors predicted to Insider that dealmaking will rebound in 2023 as companies big and small size up their options for possible tie-ups. Pressure on big media companies to get bigger hasn't gone away. Apple: Could eye a big content prizeTim Cook. Paramount's library could help a streaming company bulk up its content; Netflix for one has explored Paramount's studio business before.

☆ Leo Messi used a 'growth mindset' to finally win his World Cup trophy—here's what that looked like
▼ + stars: | 2022-12-19 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

The only major item missing was a World Cup trophy until Sunday, when Messi's Argentina defeated France in a 4-2 penalty shootout after an extra-time thriller. The approach may sound familiar: It's reminiscent of psychologist Carol Dweck's theory of the growth mindset, which posits that talent is only a starting point. Many non-athletes champion their own versions of the growth mindset, from billionaire Mark Cuban to actor Will Smith. Studies show that students who are taught the "growth mindset" by educators are able to improve their test scores more than their peers, over time. And despite long being recognized as a global superstar, it took him roughly 16 years over five World Cup tournaments to finally land his elusive prize.

☆ Fanatics valuation hits $31 billion after $700 million investment round
▼ + stars: | 2022-12-06 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Michael Rubin's sports platform company Fanatics has raised $700 million in fresh capital, pushing its value to $31 billion, according to people familiar with the matter. In March, the company raised $1.5 billion led by Fidelity and Blackrock and Michael Dell's MSD Partners. This summer, Fanatics ventured deeper into collegiate sports, signing a long-term deal with Nike to manufacture college sports fan apparel. Rubin now has his eyes on the sports gaming market. Revenue for Fanatics, including its Lids segment, will be approximately $8 billion in 2023, according to company estimates.

☆ From Apple and Disney to Warner Bros. Discovery, here's the 2023 media deal outlook for Hollywood's biggest companies, according to 13 bankers and industry experts
▼ + stars: | 2022-12-06 | by ( Lucia Moses | Claire Atkinson | Reed Alexander | ) www.businessinsider.com time to read: +12 min

☆ Winners and Losers of Advertising During an Economic Downturn
▼ + stars: | 2022-12-05 | by ( Lauren Johnson | ) www.businessinsider.com time to read: +4 min

Executives from three of the largest ad agencies — Magna Global, GroupM, and Zenith — spoke at UBS' Global TMT Conference about how the ad industry will shake out next year. Kate Scott-Dawkins, global director of business intelligence at GroupM, said that retail media was the fastest-growing area within digital advertising this year. It upped its retail media forecast to $110 billion this year, up from $100 billion in September. Streaming TV is also starting to compensate for dips in linear TV ad spending. TV advertising will dip because it lacks annual commitments from advertisers, causing ad prices to come down to pre-covid levels.

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