Movers and SHAKERS
Esports Entertainment Group, Inc. (GMBL)
Heightened M&A Activity In The Gambling Space Validates ESports' Strategy
Esports Entertainment Group Inc is a development-stage online gambling company focused purely on esports. The company's principal business operations include design, develop and test wagering systems.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Sinclair's big deal. Sinclair Broadcast Group (SBGI) announced yesterday that it entered a strategic partnership with Bally Corporation (BALY) to participate in the sports betting and iGaming industry. Sinclair will receive warrants to acquire up to 24.9% of Bally's common shares. In addition, Sinclair will also receive options to purchase 5% of Bally's common shares in four tranches with purchase prices starting at $30 per share and escalating to $45 per share, exercisable after four years.
Entercom enters the betting game. On a smaller scale, Entercom (ETM) also acquired a sports data and iGaming company, QL Gaming Group for approximately $32 million, or 2.7 times revenues. The QLGG technology portfolio includes sports betting data and analytical capabilities, daily fantasy sports, and analytical coverage of the ATP and WTA Tours (TennisInsight.com), each with respective subscriber ...
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.