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Gerard Piqué invests and becomes Sorare strategic advisor
Football superstar Gerard Piqué and ex Coca-Cola VP Emmanuel Seugé through his fund Cassius Family are investing EUR 3 million in Sorare as a seed extension. Sorare card sales volume grew by more than 1000% in 2020 with 80 clubs joining during the year including European Champions: Bayern Munich, Juventus, Paris Saint-Germain, Porto, and Zenit with more Champions coming before the end of the year.
Fans no longer want to just consume football entertainment, they wish to participate in new and exciting ways. Gerard Piqué has been at the forefront of reimagining these new paths with Kosmos and now with a strategic investment in Sorare. Gerard Piqué will join Sorare’s board as a Strategic Advisor, together with existing board members Christian Miele, co-founder Nicolas Julia, and co-founder Adrien Montfort.
Gerard Piqué, Chairman of Kosmos, comments: “I see a huge potential in the sports gaming segment in a digital economy where the attention of audiences is the single most important unit of currency. I’m looking forward to helping Sorare expand their partnerships with football leagues, clubs, and players worldwide to build the best fantasy experience that exists.”
Sorare CEO Nicolas Julia added: “Gerard is not only one of the best defenders in the world but he is also an active entrepreneur and is re-defining the sports and entertainment industry. The strategic counsel and business acumen Gerard brings to our board is invaluable. I’m excited to have him join our team to unlock people’s football fandom online with Sorare.”
European Giants have joined Sorare in 2020
5 European 2020 Champions have all launched their digital cards on Sorare this year. Bayern Munich, Juventus, Paris Saint-Germain, Porto, and Zenit with more Champions coming before the end of the year. Since opening the beta in December 2019, 80 football clubs have joined Sorare from 11 countries to help create a unique and global fantasy football experience. Sorare is an opportunity for clubs and leagues to allow their fans to express their fandom with digital cards, amidst the current lack of live games as well as to expand their international brand by reaching several untapped audiences of fans. It is effectively opening up a new revenue stream for clubs, by creating a new licensing category: fantasy football licensing.
Fans want to further engage with football entertainment
While sports fans have been able to collect and trade player cards for decades, this was limited to the physical world. Sorare is on a mission to unlock people’s football fandom online. The company is creating an open world of games with digital cards, where people can express their affiliation with a club or player, build meaningful identities and relationships with it, and seize new economic opportunities around it. The Sorare cards are fully licensed, and provably scarce thanks to blockchain technology, creating a new level of trust for fans and clubs.
Fans collect digital cards of players for the same reasons they collect cards offline – status, differentiation, identity, and membership. This also offers the most direct way of investing in the upside of a sports player. Sorare’s current total addressable market is at the intersection of fantasy football and sports cards and memorabilia that is respectively estimated at $5.4B and $18.6B globally. After having acquired more than 50,000 users in 2020, Sorare is expecting to see these numbers more than triple next year.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Gerard Piqué invests and becomes Sorare strategic advisor
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Tundra Esports Announces New Official Supplier Partnership with Gladiator PC
Tundra Esports, The International 11 Champions and a leading competitive esports team playing in Dota 2, proudly announces a game-changing collaboration with Gladiator PC, a pioneer in high-performance gaming technology as their Official Supplier.
The post Tundra Esports Announces New Official Supplier Partnership with Gladiator PC appeared first on European Gaming Industry News.
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Genius Sports Reports First Quarter Results Above Expectations and Raises 2024 Group Revenue and Adj. EBITDA Guidance
Q1 Earnings 2024 Carousel 8th May
- Group Revenue of $120m, exceeding first quarter guidance of $117m
- Group Net Loss of ($26m) and Group Adj. EBITDA of $7m, exceeding guidance of $6m
- Raised 2024 Group Revenue and Adj. EBITDA guidance to $500m and $82m, respectively, up from prior guidance of $480m and $75m
- Reaffirming expectation to generate positive cash flow in 2024
- Increased financial flexibility by entering into $90 million committed revolving credit facility with Citibank and Deutsche Bank
Genius Sports Limited, the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media, today announced financial results for its fiscal first quarter ended March 31, 2024.
“Following a strong year of execution in 2023, we are pleased to continue our momentum to start the new year, with the first quarter of 2024 marking another period of outperformance relative to expectations,” said Mark Locke, Genius Sports Co-Founder and CEO. “As we expand our technology footprint and work to extend one of our most important data partnerships with Football DataCo, we feel an enhanced sense of excitement and confidence in our outlook for 2024 and beyond.”
$ in thousands | Q124 | Q123 | % |
Group Revenue | 119,718 | 97,229 | 23.1% |
Betting Technology, Content & Services | 73,897 | 64,740 | 14.1% |
Media Technology, Content & Services | 35,475 | 21,764 | 63.0% |
Sports Technology & Services | 10,346 | 10,725 | (3.5%) |
Group Net loss | (25,541) | (25,168) | (1.5%) |
Group Adjusted EBITDA | 6,878 | 8,042 | (14.5%) |
Group Adjusted EBITDA Margin | 5.7% | 8.3% | (260 bps) |
View the full press release here.
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Gaming Americas Weekly Roundup – May 6-12
Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
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Texas Lottery players are bracing for a chance to have an instant hit when they play four new scratch ticket games that launched on May 6. The HIT family of games, ranging in price from $1 to $20, features more than $220 million in total combined cash prizes with top prizes ranging from $5000 to $1 million. In addition, the HIT family is paired with the Sedona Day of Luck Promotion, offering players with non-winning tickets a chance to win a luxurious trip to Sedona, Arizona.
International Game Technology announced that its subsidiary, IGT Global Solutions Corporation, has signed a five-year contract with the Atlantic Lottery Corporation (Atlantic Lottery), to implement high-performing features and exciting new games for players in Atlantic Canada. As part of the agreement, IGT will deploy its advanced cloud-based remote game server (RGS) and at least 16 digital instant games each year.
Bragg Gaming Group announced that Neill Whyte has been appointed as Chief Commercial Officer, effective 1st May 2024, establishing a new global commercial structure at the Company and bolstering its leadership team. Whyte brings over 18 years of experience in the iGaming sector, most recently in the role of Chief Commercial Officer at Digital Gaming Corporation’s B2B iGaming Division.
In an exciting development for sweepstakes operators across the US, CasinoWebScripts has announced a significant milestone: the release of more than 200 in-house developed sweepstakes casino games. This achievement highlights the company’s commitment to innovation and its dedication to providing high-quality, engaging gaming experiences without the burden of monthly revenue sharing.
Partnerships
SCCG Management announced a strategic partnership with Globe Gaming Limited, aiming to significantly extend its global reach with a focus on the European market. This collaboration marks a significant milestone in SCCG’s efforts to broaden its influence in the gaming and sports entertainment sectors internationally.
NBC Sports will continue to present the Kentucky Derby on NBC and Peacock through 2032, as Churchill Downs Incorporated (CDI) and NBC Sports announced a multi-year extension of their partnership. The extension of the NBC Sports-Churchill Downs relationship – which began with the 2001 “Run for the Roses” – will make NBC the longest running home of the Kentucky Derby, as NBCUniversal will become the first media company to present the most prestigious event in horse racing for three decades (32 editions of the Kentucky Derby from 2001-32).
WinnaVegas Casino Resort, a premier destination in Western Iowa, announced the extension of its partnership with Quick Custom Intelligence (QCI), a leading provider of advanced analytics solutions for the gaming industry. This renewal underscores WinnaVegas’ commitment to leveraging cutting-edge technology and superior support to drive business success.
The PGA of America and PENN Entertainment announced a multiyear sports betting partnership. Under the agreement, ESPN BET becomes the “Official Sports Betting Sponsor” of the PGA Championship through 2026. The 2024 PGA Championship will take place at Valhalla Golf Club in Louisville, Kentucky from May 16-19. This agreement marks a milestone for the PGA Championship as it becomes the first men’s golf major to establish an official sports betting sponsor.
The post Gaming Americas Weekly Roundup – May 6-12 appeared first on European Gaming Industry News.
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