![]() Put simply, as states across the country continue to limit betting licenses to a small subset of holders, sportsbooks have been incentivized to spend money, capturing size and scale as quickly as possible. Penn National Gaming acquired Barstool Sports last year through a multi-year deal that valued the sports media company at $450 million.Īlong with a $100 million acquisition of VSiN, DraftKings spent $50 million last week on the right to exclusively distribute Dan Le Batard’s podcast for the next 3 years. Now, as more states legalize sports betting across the US and competition between operators continues to heat up, we’ve seen a flood of M&A and licensing-based media content partnerships over the last 12-18 months. On May 14, 2018, the United States Supreme Court ruled PASPA unconstitutional and paved the way for states to self-regulate retail and online sports betting. ![]()
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