While still living off of one of the most successful video games in history, Epic Games is starting to build out other parts of its business.

A few years ago, it would be fair to call Epic Games “Fortnite Inc.” The breakout hit accounted for 97% of the company’s $5.6 billion in revenue in 2018, according to documents that came out through its lawsuit against Apple.

“Fortnite” revenue dropped each of the next two years, as did Epic’s, but other aspects of the business have begun to emerge, namely the Epic Games Store.

• Launched in December 2018, when it made $2 million in revenue, the store grew from $233 million in 2019 to $401 million last year. 
• Epic has sought to undercut the market to lure game publishers. The company takes 12% of purchases made on its platform, whereas Apple and Google take 30% from most publisher revenue. 
• Epic’s non-“Fortnite” games brought in $8 million in 2018, but grew to $100 million in 2019 and $250 million in 2020.

The Epic Games Store competes against tech behemoths like Apple and Google, and the company has taken that battle to the courts. If successful, its antitrust lawsuit against Apple could force a reconfiguration of the App Store.

Both Epic and Apple have completed final arguments in that case and a verdict is expected in August.

Epic was valued at $28.7 billion in April after a $1 billion funding round. 

The reported acquisition talks between The Athletic and the New York Times are no more.

The Athletic, a subscription-only startup valued at around $475 million, has also been linked to possible deals with Vox and Axios.

Negotiations between the sports site and The New York Times broke down over money and a disagreement on how to compensate The Athletic’s employees for their equity in the company, according to The Information.

The Athletic currently has about 1.2 million subscribers, but growth has slowed down over the past year.

The New York Times has 8 million subscribers and a market cap of $6.8 billion. Its stock closed at $40.32 on Thursday.

In March, the Wall Street Journal reported that The Athletic was in merger talks with Axios. By early May, however, it reported that the sports media outlet “halted” those talks and turned its attention toward the New York Times.

What’s next? Some have speculated that The Athletic could align with a streaming service like Peacock.

“If everyone is buying Peacock because it has a lot of sports content, it would make sense for NBC … to do something,” Dave VanEgmond, an investor who advised The Athletic on its sports betting partnership with BetMGM, told FOS earlier this month.

Wagr, an app for casual sports bets among friends, is raising $4 million, with Reddit co-founder and investor Alexis Ohanian leading the charge, according to Bloomberg. 

Ohanian is investing through his VC firm, Seven Seven Six. The seed-funding round includes contributions from Tinder co-founder Justin Mateen and former Saks Inc. chairman and CEO Brad Martin. 

More sports betting platforms are emerging as the $30 billion U.S. online sports betting market expands.

Wagr is part of a rising wave of small but formidable sports betting and fantasy platforms bringing in the money.

• Simplebet, a micro-betting startup, raised $15 million in March. Investors include tennis legend Andre Agassi and 76ers co-owner David Blitzer. 
• Underdog Fantasy raised $10 million in May. The round included investments from Mark Cuban and Kevin Durant. 

Wagr focuses on simplifying betting for casuals who may not be comfortable in casinos. If app users don’t have a friend to take a bet, they’ll be matched with someone in their state who also uses the platform. 

“It’s about productizing what already goes down in everyone’s group chat,” Ohanian told Bloomberg. “Right now, the way these get resolved is through a Cash App payment or a Venmo payment, and surely we can do better.”

Phil Mickelson has achieved everything there is to achieve in golf except for winning in his backyard. 

Mickelson will attempt to complete golf’s grand slam this weekend at the U.S. Open in Torrey Pines, just outside of San Diego, where he grew up.

Also on the line for the 2021 U.S. Open? A $12.5 million purse — including a $2.25 million winner’s share — which is the largest among golf’s four major events.

The U.S. Open generates around $170 million in revenue in a normal year.

Mickelson has won the PGA Championship, the Masters, and the British Open, but he’s placed second at the U.S. Open six times without ever winning. He got off to a slow start Thursday, and was distracted by cell phone noises throughout his round.

• At $94.6 million in career winnings, Mickelson trails only Tiger Woods, with $120.9 million.
• In the 12 months ending May 1, Lefty pulled in $41 million in earnings, almost entirely from sponsorships. He’s made nearly $800 million in his career, per Forbes. Again, Woods is the only golfer who’s made more, with over $1.5 billion from his off-course activities alone.
• Rory McIlroy tops the projections for future earnings with an estimated $400 million coming his way over the next 18 years.

Whenever Mickelson decides to retire as a golfer, one option he’ll have is to clip on a microphone and step into the broadcast booth. FOS reported in February that networks are eyeing him as a TV analyst.