Entercom Communications Corp. (NYSE: ETM) has sports data provider QL Gaming Group approximately $32 million to expand into sports betting. Entercom is a digital content company that offers podcasts.
QLGG technology offers sports betting data and analytics, simulation-based sports outcome predictions and game forecasting through subscriptions and licensing. “As the sports betting marketplace continues to grow exponentially, the acquisition of QL Gaming Group is a perfect fit for our unrivaled sports audio platform,” says Entercom CEO David Field.
Companies are looking to take advantage of online gaming opportunities after the Supreme Court legalized sports betting, and that is spurring dealming activity. For example, earlier in 2020, Casino operator Penn National Gaming Inc. (Nasdaq: PENN) bought 36 percent stake in digital media sports company Barstool Sports for $163 million. Under the deal, Penn will become Barstool’s exclusive gaming partner for up to 40 years and will have the right to use the Barstool Sports brand for all Penn’s online and retail sports betting products