Omnichannel gaming operator Penn Entertainment has completed its acquisition of media business Barstool Sports.
The closing of the deal is the latest stage of an acquisition process that began in February 2020, when Penn purchased a 36% stake in Barstool.
Today (17 February), Penn revealed that it has paid approximately $388m (£322.5m/€363m) for the remaining interest in the business, having exercised its option to acquire in August 2022.
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Sports data business Genius Sports has agreed to a new data distribution and fan engagement partnership with minor football league XFL.
As part of the deal, XFL has granted Genius exclusive rights to distribute official data from all XFL games to its media and betting partnerships.
As such, Genius Sports is now XFL’s official betting data distribution partner and free-to-play provider.
Genius Sports’ executive vice-president, Sean Conroy, said that having a comprehensive data policy is an important part of a sports organisation’s financial success.
“For every sports league, an official data strategy that drives both new revenues and fan engagement levels is vitally important,” he said. “We’re thrilled to partner with the XFL, connecting their games with the media and betting sectors while creating meaningful fan interactions through the bespoke XFL Pick’Em solution.”
genius argued that a data strategy is vital to the success of a sporting league
XFL Pick’Em
The deal also saw G..
DraftKings has raised its 2023 revenue guidance to $2.95bn (£2.47bn/€2.77bn), up from $2.90bn, after experiencing “better than expected” sportsbook results – among other successes – in the fourth quarter of 2022.
DraftKings CEO and co-founder Jason Robins pointed to a double effort of increased revenue and reduced costs as reasons for the Q4 growth, along with the sportsbook results.
Revenue for the quarter was $855m in total, a rise of 81% year-on-year.
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France's national lottery operator Française des Jeux (FDJ) reported full-year 2022 revenue of €2.46bn (£2.18bn/$2.62bn), up by 9.1% compared to 2021, as lottery ticked up by 11%.
Stéphane Pallez, chairwoman and CEO of FDJ Group, said that the full-year results were indicative of growth across the business as a whole, as well as a steady balance of retail and online betting activity.
“FDJ recorded very strong results for the year as a whole, marked by an increase in all of our business activities and supported by significant growth in our 30,000 points of sale and sustained momentum online,” said Pallez.
“This good performance benefits all our stakeholders, in particular our employees,
our retailers and our shareholders.”
This growth was seen across the board. Lottery revenue rose by 10.9% year-on-year to €1.91bn. Revenue from sports betting and online gaming activities came to €467m – up by 0.6%.
In addition, FDJ said that 6% of the total revenue for the year was generated ..
