Live audio service provider Entercom Communications Corp closed this week on the acquisition of sports data and igaming affiliate platform QL Gaming Group (QLGG) in an approximately $32 million all cash transaction.
The acquisition, the company said, brings its RADIO.COM sports broadcast stations, podcasts and digital audio network with unrivalled data , analytics and insight-driven content.
Sports betting data and analytical capabilities (BetQL), daily fantasy sports (RotoQL), simulation-based sports result forecasts and game forecasting (AccuScore), and extensive ATP and WTA Tours (TennisInsight.com) analytical coverage, each with sufficient subscriber base and licencing opportunities, are included in the QLGG technology portfolio.
David Field, Chairman, President and CEO of Entercom, stated: “As the sports betting marketplace continues to grow exponentially, the acquisition of QL Gaming Group is a perfect fit for our unrivalled sports audio platform.
“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, QLGG’s co-founder and CEO, will continue to report to Mike Dee, President of Sports, and JD Crowley, Chief Digital Officer, for business reporting. In 2021, QL Gaming Group is projected to produce approximately $ 12 million in sales with an EBITDA margin in the high 20s during the first full year of ownership of the company.
Park said: “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. 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.”
QLGG ‘s powerful sports betting app, BetQL, is the cornerstone of the new product. The app democratises sports betting through a proprietary algorithm and sophisticated analytics, providing direct-to – consumer data that will now be enhanced to nearly 30 million sports fans each month through Entercom ‘s sports audio portfolio.
The new subscription-based offer simplifies sports betting, from beginner to expert, giving customers access to sports information , news and content in real-time through any platform, speaker or screen.
.@Entercom announces the acquisition of QL Gaming Group, bringing unrivaled data, analytics and insight-driven content to its sports broadcast stations, influential podcasts and @radiodotcom, and delivering a new unparalleled experience for sports fans.https://t.co/igOX5p04Ky
— Entercom (@Entercom) November 9, 2020