Entercom Buys QL Gaming for $32 Million
Entercom Communications signed an all-cash purchase transaction with QL Gaming Group's sports data partner network a week ago for $32 million.
QLGG Offers A Wide Variety Of Prospects
Radio and broadcasting pioneer Entercom Communications Corp, an American radio nerwork and broadcasting company based in Pennsylvania, reported on Tuesday that it is purchasing QL Gaming Group (QLGG) sports data and an iGaming partner network for around $32 million.
Entercom will have complete access to QL Gaming's suite of data and analytics, and learn from its informative content. QL Gaming's offer includes BetQL for sports betting info, RotoQL for daily fantasy sports, AccuScore for game projections and forecasts, and TennisInsight.com for comprehensive analysis by the Association of Tennis Professionals (ATP) and Women’s Tennis Associations (WTA) Tours. Platform has its own user base, and choices for licensing.
Unparalleled Web Interface And Improved Deal
BetQL offers direct-to-consumer sports betting data that will hit almost 30 million sports fans per month via the broadcast network of Entercom. Enthusiasts in professional and casual betting sports will have access to real-time sporting info, reports, and content through both audio and video platforms.
Entercom Chairman and CEO David Field claimed in a statement that QL Gaming Group's takeover is a natural match for the live audio entertainment business, as the sports betting industry is on the increase.
Thanks to this contract, Entercom will be able to provide sports enthusiasts with "unparalleled experiences" as well as a new premium service to their website, Mr. Field added. Data and analytics will update the company's technology infrastructure, on board with Entercom's strategy to expand digitally.
“As technology continues evolving, changing consumer’s expectations of what’s digitally possible, radio broadcast services must do the same. When it comes to audio innovation, the executives at @Entercom are eager to lead the way.” Via @TechnicallyPHLhttps://t.co/0MtEtdVwB0
— Entercom (@Entercom) October 29, 2020
12 Million Dollars In 2021
Entercom expects QL Gaming Group to produce sales of about $12 million with a well above 20 EBITDA margin in 2021, within the first full year of ownership of the venture.
QLGG CEO Justin Park will report to sports chair Mike Dee of entercom and J.D.Crowley, Chief Digital Officer. Crowley while the service provider stays in the forefront.
Working as a team, both companies will give sports enthusiasts an unrivaled deal through an improved exclusive betting experience that blends entercom's loyal fan base with QLGG's betting expertise, Mr. Park said.
Entercom's trading shares closed on the New York Stock Exchange on Wednesday, at $1.89.
