Business
SharpLink Gaming to Acquire SportsHub Games Network to Accelerate Audience Growth, Fantasy Sports Conversion
Transaction Greatly Enhances SharpLink Gaming's Position as a Full-Spectrum Provider of Sports Betting Conversion Products and Services MINNEAPOLIS,
About this update from Sharplink, Inc.
[{"type":"text","content":"Transaction Greatly Enhances SharpLink Gaming's Position as a Full-Spectrum Provider of Sports Betting Conversion Products and Services\nMINNEAPOLIS, Sept. 08, 2022 (GLOBE NEWSWIRE) -- SharpLink Gaming Ltd. (Nasdaq: SBET) (“SharpLink” or the “Company”), a pioneer of targeted, data-driven user engagement and conversion solutions for the U.S. sports betting and iGaming industries, today announced that it has entered into an Agreement and Plan of Merger pursuant to which it will acquire 100% of SportsHub Games Network, Inc. (“SportsHub”), an industry leading fantasy and sports game provider, in an all-stock transaction. Closing of the acquisition is subject to the satisfaction of certain closing conditions, including shareholder approval by SharpLink’s shareholders. Founded in 2015 by a team of veteran fantasy sports industry insiders, SportsHub operates a variety of real-money fantasy sports and sports simulation games on its fully-licensed platform. The platform reaches more than 2 million fantasy sports fans who spend almost $40 million annually on its portfolio of games and contests, helping the Company generate nearly $6 million in annual revenues in 2021. “This acquisition gives SharpLink access to a large and loyal base of fantasy sports fans who we know are also sports bettors, or would likely become sports bettors when legalized in states where they reside,” said Rob Phythian, Co-Founder and CEO of SharpLink. “With a thriving ecosystem of cash players, many of whom have money in their user accounts, we have a tremendous opportunity to seamlessly integrate compelling sportsbook offers within all aspects of the user experience.” Continuing, Phythian noted, “While many of SportsHub’s fantasy players currently reside in states where sports betting has yet to be legalized; these players are primed to convert to bettors if these states become legal. In addition, the SportsHub platform is expected to serve as an invaluable proving ground for expanding our C4 technological capabilities to provide users with highly localized, single-point access to products and services beyond embedded personalized sports betting content, including direct access to fan merchandise, ticketing outlets, local business discounts and giveaways and other fan-centric goods and services available within each user’s personal fandom ecosystem.” SportsHu...