SPORTS BETTING
US – Boom raises $15m as it aims to redefine sports betting
By Phil - 21 September 2021
Boom Entertainment, the creator of popular sports gaming apps such as NBC Sports Predictor, has announced a $15m Series A led by Sands Capital to fuel the company’s expansion into real-money gaming products.
“Sports fans and casino players are craving something more – new products and new games that will transform how they consume sports and how they are entertained,” said Stephen A. Murphy, co-founder and CEO of Boom Entertainment. “With this capital infusion, we will redefine what real-money gaming looks like by introducing new ways to bet on sports and new experiences for players.”
Sands Capital, the investment company with nearly $80bn under management (including stakes in Amazon, Netflix, and Nike), led Boom Entertainment’s latest round. Sands has extensive experience in real-money gaming, as shareholders of Entain (which runs BetMGM in a joint venture with MGM Resorts) and as previous shareholders of Las Vegas Sands.
“Boom is in an enviable position as the premier provider of technology and games in an industry that is both rapidly expanding and increasingly in need of product differentiation,” said Scott Frederick, partner at Sands Capital. “Boom offers the entire continuum, from mass-casual free-to-play gaming products to fantasy sports to online casino and sports betting games. They are the go-to partner for any company looking to maximize their opportunity in this category.”
Boom Entertainment’s partners include media companies, sports leagues, retail companies, and sportsbook and casino companies.
Joining Sands Capital in the round is a star-studded list of investors, including Defy Partners, Golden Nugget Online Gaming, Rush Street Interactive, TEGNA, Bettor Capital, Velo Capital, Alpha Bridge Ventures, and Heatwave Partners. New England Patriots owner Robert Kraft, former MGM Resorts International CEO Jim Murren, former International Game Technology CEO Patti Hart, Better Collective CEO Jesper Sogaard, J2 Global CEO Vivek Shah, Acies Acquisition Partners Co-CEOs Edward King and Dan Fetters, Proskauer partner Robert Freeman, Eilers & Krejcik partner Chris Grove, former ESPN SVP Sean Bratches, former NBA SVP Chris Pantoya, BTIG partner Rich Jacklin, Palo Alto Venture Partners managing partner Peter Ziebelman, ESPN analyst Adam Schefter, and several other notable investors participated in the round.
Boom Entertainment’s products — which include the white-labeled NBC Sports Predictor, Tim Hortons NHL Hockey Challenge, PlayBarstool, NASCAR Jackpot Races, MSGN Pick’em, YES Pick N’ Play, and Chirp Golf — have been played by nearly 3 million users. The company offers partners premier, fast, scalable products that engage and retain users and, if desired, helps partners convert those players into real-money customers.
Now, Boom Entertainment — led by gaming veterans who previously held leadership roles at DraftKings, Aristocrat, IGT, and High 5 Games — is poised to make its mark on the real-money casino and sports betting industry. The company will unveil its first wave of casino games to select partners in the coming months, and will launch its proprietary sports betting games and product offerings to partners shortly thereafter.
