U.S. Sports Betting Doubled in 2021, Surpassing $52B

The legalized U.S. sports betting market doubled in 2021, with more than $52.7 billion wagered throughout the year.

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Some Universities Piling Up Millions in Deficits to Compete

Student fees and institutional support are a common revenue stream for athletic departments, even in the FBS. Rutgers and UConn took it to the next level.

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D1 Capital Leads $32M Round for Fantasy Sports Platform

Rei do Pitaco, a daily fantasy sports platform, announced a $32 million Series A funding round led by investment manager D1 Capital Partners.

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Disney to Sell X Games to Phoenix Suns Exec’s Firm

A group led by private equity firms The Najafi Companies and MSP Sports Capital will buy the X Games from Disney-owned ESPN.

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Wagr Raises $12M, Patriots and 76ers Owners Among Investors

Wagr has completed a $12 million Series A funding round that included owners of the New England Patriots and Philadelphia 76ers.

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Netflix Subscriber Count Grows to 222M

Netflix reported 2021 fourth quarter revenue of $7.7 billion. The company now boasts 222 million subscribers.

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Tom Brady's NFT Startup Autograph Raises $170M

The Tampa Bay Buccaneers’ win over the Philadelphia Eagles on Sunday wasn’t the only triumph for quarterback Tom Brady this past week.

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Seawall Capital Acquires Two Outdoor Sports Companies

Kent Water Sports has rebranded to Kent Outdoors. The Seawall Capital-owned company acquired two new brands.

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BetMGM to Receive $450M Investment Toward U.S. Growth

MGM Resorts International and Entain are investing around $450 million in BetMGM this year. The companies own BetMGM 50-50.

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Featured

The Gaming Deal Heard Around the World

Microsoft’s $69 billion acquisition of Activision Blizzard is the largest M&A deal in tech history — and the aftershocks will be impossible to ignore.

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Ken Goldin on the Future of the Thriving Collectibles Industry

Ken Goldin predicts big things for the collectibles market as trading cards and other items have become a new alternative asset class.

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MLS Enters Exclusive Negotiations For Vegas Team

Major League Soccer has reportedly entered an exclusive negotiating agreement with billionaires Wes Edens and Naseef Sawiris for a 30th team.

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Broncos Could Make History with NFL's First Black Owner

Billionaire Robert F. Smith, the country’s wealthiest Black person, could bid on the Denver Broncos if they hit the market, say sources.

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Peloton Can't Catch A Break

Peloton continues to be shrouded in controversy following a tumultuous 2021 and new revelations of potential layoffs, halted production, and a stock sale by insiders.

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Puma’s Full-Year Sales Reach Record $7.7B

Puma has posted record sales and earnings following the release of preliminary results for the company’s fourth quarter and FY2021.

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