• Loading stock data...
Thursday, May 8, 2025
Join us May 14 at 1 p.m. ET for Future of Sports: Leagues of Their Own Register Now

Roblox Selling $1B in Junk Bonds

man_and_roblox_logo
Roblox/Design: Alex Brooks

Roblox plans to sell $1 billion of junk bonds in what’s already been a popular year for high-yield borrowing.

The proceeds will be used to assist with “general corporate purposes,” including capital expenditures, production and development, potential acquisitions, and working capital.

The video game developer is the 85th first-time high-yield borrower in 2021, as more technology companies — especially those newly public — look to fund growth with debt, according to Bloomberg.

Roblox went public in March, reaching a $45 billion valuation on the day of its public market debut.

  • Second-quarter revenue was $454.1 million, a 127% increase year-over-year.
  • Daily active users hit 43.2 million in the quarter, a 29% increase from the same period in 2020.
  • Roblox announced a partnership with Sony Music Entertainment in July, bringing Sony recording artists to the Roblox metaverse.
  • In August, it acquired Discord competitor Guilded.

Goldman Sachs, Morgan Stanley, and JPMorgan Chase are leading the sale.

So far in 2021, Goldman Sachs has “done almost as much debut high-yield issuance for technology companies versus the last four years combined,” Anne Russ, head of technology, media, and telecom-leveraged finance at Goldman Sachs, told Bloomberg.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Apr 5, 2025; San Antonio, TX, USA; Duke Blue Devils forward Cooper Flagg (2) and Houston Cougars forward Joseph Tugler (11) battle for the ball in the semifinals of the men's Final Four of the 2025 NCAA Tournament at the Alamodome.

Morgan Stanley Gets In On NIL Gold Rush

Former NFL wide receiver Larry Fitzgerald Jr. is on Morgan Stanley’s sports team.
July 9, 2009; Auburn Hills, MI, USA; Detroit Pistons president Joe Dumars during the press conference to introduce their new head coach John Kuester at their practice facility.

Joe Dumars Leaving NBA League Office to Run Pelicans

Joe Dumars was the architect of the 2004 champion Pistons.
Mar 20, 2025; Providence, RI, USA; Arkansas Razorbacks forward Karter Knox (11) controls the ball against Kansas Jayhawks during the first half at Amica Mutual Pavilion.

Men’s March Madness Sets Opening-Day Viewership Record

CBS Sports and TNT Sports scored big with Arkansas–Kansas.

Callaway’s LIV Deal Shows How Much Golf Has Shifted

The company has signed a first-of-its-kind club contract.

Featured Today

Fat Perez reacts after hitting his shot on the 16th tee during the WHOOP Shot at Glory on the 16th hole at TPC in Scottsdale on Feb. 5, 2025.

Golf Influencers Are the New Currency for PGA Tour and LIV

YouTube golf is big business. The rival tours are staging formal events.
Feb 8, 2025; New York, New York, USA; New York Knicks assistant coach Rick Brunson talks with New York Knicks guard Jalen Brunson (11), forward Mikal Bridges (25), and guard Josh Hart (3) during a timeout in the third quarter against the Boston Celtics at Madison Square Garden.
May 6, 2025

Before the Villanova Knicks, There Were the Kentucky Celtics

Three decades ago, Boston tried its own version of the college-teammate experiment.
Mar 22, 2025; Miami, FL, USA; Joao Fonseca (BRZ) reacts after winning a point against Ugo Humbert (FRA)(not pictured) on day five of the Miami Open at Hard Rock Stadium.
May 6, 2025

João Fonseca Is a Teen Tennis Phenom. His Parents Are Overseeing His..

The Brazilian is forgoing a management team in favor of his parents.
Athlos
May 4, 2025

Nike Wants to Pull Off the First Women’s Sub-4:00 Mile

Experts speak on whether Nike’s “moonshot” is realistic or a gimmick.

FanDuel Misses Projections As Betting Favorites Dominate 

FanDuel is hit by customer-friendly betting outcomes during March Madness.
February 20, 2025

Americans Bet $148 Billion on Sports in 2024, Up 23.6%

Both overall handle and revenue rose by more than 20% last year.
March 4, 2025

FanDuel Retains Sports Betting Crown With $14B in 2024 Revenue

The FanDuel parent company posts big increases in revenue and net income.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Portfolio Players is our bi-weekly spotlight on the athletes and investors reshaping the business of sports. This week, venture capitalist Kai Cunningham unpacks why athletes land top deals and how the usual investing rules don’t always apply.
DraftKings app
February 14, 2025

Lawsuit Says DraftKings VIP Program ‘Preyed On’ Gambling Addicts

The company’s being sued for negligence and intentional infliction of emotional distress.
August 20, 2024

Beloved ‘Backyard Sports’ Brand Says It Will Relaunch After Decade Hiatus

“Backyard Baseball” was a turn-of-the-century computer hit. 
DraftKings
August 2, 2024

DraftKings Announces Consumer Tax Starting Next Year

The company’s stock fell 5% Friday morning.
July 24, 2024

The Perfect Storm Propelling ‘EA Sports College Football’ to Early Success

Growing fandom and a long wait have already reaped dividends for EA.