Entercom Acquires QL Gaming For $32 Million
On Tuesday, Entercom Communications closed a $32 million all-cash acquisition deal with sports data affiliate platform QL Gaming Group.
QLGG Brings a Large Array of Opportunities
Radio and broadcasting leader Entercom Communications Corp. announced on Tuesday the acquisition of sports data and iGaming affiliate platform QL Gaming Group (QLGG) for about $32 million.
Entercom will gain full access to QL Gaming’s data and analytics portfolio and will benefit from its insightful content. QL Gaming’s offer includes BetQL for sports betting data, RotoQL for daily fantasy sports, AccuScore for game predictions and forecasts, and TennisInsight.com for analytical coverage of the Association of Tennis Professionals (ATP) and Women’s Tennis Associations (WTA) Tours. Each tool has its own subscriber base and licensing options.
Unparalleled Experience and Enhanced Digital Offering
BetQL delivers direct-to-consumer sports betting data which will reach nearly 30 million sports fans monthly through Entercom’s broadcasting network. Professional and beginner sports betting enthusiasts will have access to real-time sports data, news, and content across all audio and video devices.
Entercom Chairman and CEO David Field said in a statement that the acquisition of QL Gaming Group is “a perfect fit” for the live audio content giant, as the sports betting market is on the rise.
Thanks to this deal, Entercom will be able to deliver “unparalleled experiences” to sports fans, as well as a new subscription offering to their platform, Mr. Field added. The company’s technology portfolio will be upgraded with data and analytics, on track with Entercom’s plans to grow digitally.
$12 million in 2021
Entercom expects QL Gaming Group to generate about $12 million in revenue with a far above 20 EBITDA margin in 2021, during the company’s first full year of ownership.
QLGG CEO Justin Park will report to Entercom president of sports Mike Dee and chief digital officer J.D. Crowley while continuing to lead the data provider.
Working as a team, both groups will provide an unmatched offer to sports fans through an enhanced unique betting experience, which combines Entercom’s dedicated fan base and QLGG’s betting insights, Mr. Park said.
On Wednesday, Entercom’s market shares closed at $1.89 on the New York Stock Exchange.
Mathilde has been writing for over 5 years, with 2 of those years as a specialist in the iGaming industry covering headlines across the world. With her honed research and reporting expertise, Mathilde has solidified her position as a regular author for GamblingNews. Outside of work, she enjoys studying sculpture which is one of her other strong passions.
