Entercom Acquires Direct-to-Consumer Sports Betting Technology and Analytics Leader QL Gaming Group
November 09 2020 - 4:01PM
Business Wire
Acquisition Bolsters Entercom’s Premier
Sports Offering through Predictive Analytics and Insight-Driven
Content
Entercom to Expand Position as the Ultimate
Audio Destination for Sports
Today, Entercom Communications Corp. (NYSE: ETM) announced it
has closed on the acquisition of sports data and iGaming affiliate
platform QL Gaming Group (QLGG) in an all cash deal for
approximately $32 million. The acquisition brings unrivaled data,
analytics and insight-driven content to Entercom’s best-in-class
sports broadcast stations, influential podcasts and RADIO.COM, the
fastest growing digital audio platform in America.
The QLGG technology portfolio includes sports betting data and
analytical capabilities (BetQL), daily fantasy sports (RotoQL),
simulation-based sports outcome predictions and game forecasting
(AccuScore), and comprehensive analytical coverage of the ATP and
WTA Tours (TennisInsight.com), each with respective subscriber base
and licensing opportunities.
“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,” said David Field,
Chairman, President and Chief Executive Officer, Entercom.
“Integrating QL’s analytics and content with our sports brands
enables us to deliver unparalleled experiences for sports fans. The
acquisition builds on our track record of digital growth and
further enhances our direct-to-consumer technology portfolio with
data and analytics capabilities, while also adding an innovative
new subscription offering to our platform.”
Justin Park, Co-Founder and Chief Executive Officer of QLGG,
will continue to lead the business reporting to Mike Dee, President
of Sports, and J.D. Crowley, Chief Digital Officer. In 2021, under
the company’s first full year of ownership, QL Gaming Group is
expected to generate approximately $12 million in revenue with an
EBITDA margin in the high 20s.
“We are thrilled to be joining the leading sports audio
platform, bringing our betting insights and expertise to such a
loyal and dedicated fan base,” said Justin Park, Co-Founder and
Chief Executive Officer, QLGG. “Between our capabilities to make
bettors better and the influence Entercom’s platform provides, we
can now offer a wholly unique proposition to the sports enthusiast
that is second to none.”
Core to the new offering is QLGG’s powerful sports betting app,
BetQL. The app democratizes sports betting through a proprietary
algorithm and advanced analytics, delivering direct-to-consumer
data which will now be amplified across Entercom’s sports audio
portfolio reaching nearly 30 million sports fans monthly. The new
subscription-based offering simplifies sports betting, from the
novice to professional, and gives consumers access to real-time
sports data, news and content across any device, speaker or screen
– taking the sports experience to the next level.
About Entercom Communications Corp.
Entercom Communications Corp. (NYSE: ETM) is the #1 creator of
live, original local audio content in the U.S and the unrivaled
leader in local radio sports and news. Home to the nation’s most
influential collection of podcasts, digital and broadcast content,
and premium live experiences, Entercom engages over 170 million
consumers each month. Available on every device in every major U.S.
market, the company delivers the industry’s most compelling live
and on-demand content and experiences from voices and influencers
its communities trust and love. Entercom’s robust portfolio of
assets and integrated solutions offer advertisers today’s most
engaged audiences through targeted reach, brand amplification and
local activation—all at national scale. Learn more at
www.entercom.com, Facebook and Twitter (@Entercom).
About QL Gaming Group and BetQL
The QL Gaming Group is a direct-to-consumer sports data and
iGaming affiliate platform, operating three consumer facing data
and analytics brands: BetQL for sports betting, RotoQL for daily
fantasy, and SquadQL for season long fantasy. It also operates
AccuScore for simulation-based sports outcome predictions and game
forecasting; and TennisInsight.com, for comprehensive analytical
coverage of the ATP and WTA Tours. Learn more about QL Gaming
Group: http://qlgaminggroup.com/. Learn more about BetQL:
https://betql.co/.
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version on businesswire.com: https://www.businesswire.com/news/home/20201109006103/en/
MEDIA CONTACT:
Entercom David Heim 212-649-9676 David.Heim@entercom.com
BCW Global Jessica Smith 951-440-0972
jessica.smith2@bcw-global.com
INVESTOR CONTACT:
JCIR Joseph Jaffoni, Jennifer Neuman, Norberto Aja
212-835-8500 etm@jcir.com
Entercom Communications (NYSE:ETM)
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