Canada
PLAYMAKER ACQUIRES MAJOR NORTH AMERICAN SPORTS MEDIA DESTINATION YARDBARKER AND EMAIL NEWSLETTER ‘THE MORNING BARK’
Playmaker Capital Inc. (TSX-V: PMKR) (“Playmaker”) is pleased to announce today that it has acquired the California-based sports and entertainment digital media business, YB Media LLC (d.b.a. Yardbarker) (“Yardbarker”). With its comprehensive North American sports and entertainment focus and highly engaged fan base, Yardbarker represents an integral pillar of Playmaker’s growth ambitions and a strong platform from which it will continue to expand its U.S. presence and build its global sports media ecosystem.
Yardbarker is a premier U.S. sports and entertainment media platform, attracting over four million unique users per month and generating more than nine million total sessions across its primarily NFL, NBA, MLB, College Sports, and NHL content offerings. The company’s core editorial focus is to create and surface timely, engaging, and relevant news and analysis to its users in a fun and efficient format. The platform publishes over 25,000 full-text articles per month through a combination of its in-house editorial team and 125+ content syndication partner sites, while also augmenting traditional coverage with a collection of over 5,000 sports and entertainment quizzes and slideshows. The unique content mix allows Yardbarker to offer a differentiated user experience and generate high engagement and interaction rates among its audiences.
The Morning Bark, Yardbarker’s daily email newsletter, reaches more than 350,000 subscribers with open rates in excess of 25%. The all-in-one email product features a Top 10 rundown of the most important stories of the day and a customizable newsfeed that allows users to keep track of their favourite sports, schools and teams. A significant driver of traffic to the website, The Morning Bark serves as a low-cost, repeatable, first-party user acquisition tool.
“We believe that Playmaker is in the process of building the next great collection of digital sports assets and we couldn’t be more excited to be joining at this early stage,” Yardbarker’s CEO Ben Maggin said. “We look forward to working with the Playmaker team to continue expanding Yardbarker’s reach and deliver the best possible service to our fans.”
Yardbarker was founded in 2006 and its three current owners, Jeff Kloster, Mark Johns and Ben Maggin, bring deep experience and knowledge of the digital sports media arena to the Playmaker senior leadership team.
“We are delighted to welcome Yardbarker to the Playmaker family. This is a U.S. platform acquisition for us that is not only transformational, but also immediately financially accretive to our shareholders,” commented Jordan Gnat, Playmaker Founder and CEO. “Ben, Jeff and Mark have built a great business with incredibly loyal fans. Playmaker will be able to leverage Yardbarker’s content of all the key North American sports within our current Futbol Sites’ assets and vice versa. This is how we will build our ecosystem. We will cross pollinate our various properties to provide all our fans globally with the best content on all sports.”
Transaction Details
Pursuant to the terms of a letter of intent dated June 7, 2021, and a purchase agreement dated July 26, 2021, Playmaker acquired 100% of Yardbarker for aggregate consideration of up to US$24 million. The purchase price consideration consisted of a payment of US$10 million in cash and the issuance of US$8 million of Playmaker common shares (the “Initial Shares”) on closing, an additional US$2 million of Playmaker common shares (the “Contingent Shares”) to be issued to the sellers upon Yardbarker achieving a minimum EBITDA of US$1.5 million within the 12-month period following closing and up to US$2 million, payable to the sellers based on Yardbarker’s performance toward an EBITDA target of US$2.5 million in each of the two years following closing. The Initial Shares were priced at the equivalent of CAD$0.55 per share. The Contingent Shares will be priced at the greater of CAD$0.60 per share or the trailing 30 day average, volume adjusted, share price of the common shares of Playmaker prior to such issuance.
For the 2021 calendar year, Yardbarker is anticipated to generate revenue of approximately US$5 million.
The acquisition of Yardbarker by Playmaker is a non-arms-length transaction and there is no finder’s fee to be distributed. Playmaker will not be assuming any long-term debt in connection with the transaction.
Canada
ComeOn Group adds sportsbook to its offering in Ontario
ComeOn Group announced a significant milestone in its sportsbook expansion journey with the addition of sportsbook to their offering in Ontario following the successful acquisition of the required permits. This addition represents a strategic advancement in the Groups sportsbook growth trajectory where they are set to double its sportsbook business in the coming years.
ComeOn Group is one of 51 active operators in Ontario. The Ontario market has experienced robust growth since its launch, reaching C$6.7 billion in revenue in 2023.* By 2029, the market is forecasted to grow by a total of 29%, with 2024 expected to close with a 20% increase.
ComeOn keeps investing in its sportsbook business acceleration that is powered by its proprietary sportsbook platform and in-house risk management and trading team. As a multi product vertical operator, ComeOn is striving to give its customer base a safe and exciting entertainment destination and this approach is now expanded to their Ontario audience.
Juergen Reutter, Chief Executive Officer at ComeOn Group, said: “We are very excited about the opportunities this new milestone opens up for us. As a casino-led operator it represents a key part of our sportsbook strategy to double our business in the coming years. Like in any of our other markets, we are striving for a differentiated sportsbook entertainment experience that is powered by our in-house technology. Our goal is to deliver top-tier entertainment to our players while fostering safe and innovative gaming experiences.”
*Source – H2GC H2 Ontario Data 25.10.2024 (excl. Lottery)
BCLC
INTRALOT Announces New Project with the British Columbia Lottery Corporation for Online Lottery Platform
INTRALOT S.A. has announced the undertaking of a new project between the British Columbia Lottery Corporation (BCLC), the sole lottery operator for the Government of British Columbia in Canada, and INTRALOT Inc., its US subsidiary, for the provision of an online lottery platform. The project also includes the digitalization of the existing land-based network.
The solution will be based on the Player X platform, part of the Lotos X ecosystem, and adds to the company’s overall partnership with BCLC, which has been extended until 2028.
INTRALOT is a leading player in a changing world of gaming. With significant experience in looking forward and anticipating emerging trends, the company provides future-proof solutions to regulated lottery and gaming operators around the world.
Canada
Relax Gaming joins forces with PointsBet to strengthen footprint in Ontario
Relax Gaming, the iGaming aggregator and supplier of unique content, has significantly enhanced its presence in the Ontario market through an agreement with leading Canadian operator, PointsBet.
This partnership reinforces Relax Gaming’s aim to become a standout provider across North America, having already gained early success in Ontario. Relax became one of the first suppliers to deliver content to the region’s players in March 2022, debuting with over 120 games across multiple operators.
PointsBet pride themselves as one of Canada’s leading operators offering unmatched speed, ease of use, and a comprehensive array of pre-game and in-play sports betting options. This is complemented by a top-tier online casino which will now be boosted with the integration of Relax’s portfolio of slots and live dealer options.
With its authentic Canadian approach, PointsBet prioritises technology that minimises external dependencies to maintain control over its platform and has a commitment to responsible gambling best practices, ensuring a safe and secure environment for all players.
Martin Stålros, CEO at Relax Gaming, said: “Since we launched in Ontario we have enjoyed tremendous success, with our content hitting the sweet spot for the broad range of players in the Canadian province. This partnership with PointsBet will strengthen our presence in the market as the region’s leading operator integrates our rich content portfolio which will engage its player base.”
Scott Vanderwel, Chief Executive Officer at PointsBet, added: “Relax Gaming has established a strong reputation across North America and in Ontario in particular. The impressive range of content that will be integrated into our platform will increase engagement within our online platform and we are delighted to be able to provide more immersive experiences to our audiences.”
Established as one of the industry’s leading B2B suppliers, Relax Gaming was awarded GGA’s Product Launch of the Year in February 2023 for Dream Drop Jackpots. Money Train 3 names the 2023 CasinoBeats Game Developer Awards amongst its 6 Slot of the Year titles, while the brand also won the award for Skill Games Supplier at the 2023 EGR B2B Awards along with the Innovation in Mobile award at the 2023 SBC Awards.
Relax Gaming provides more than 4,000 online casino games, from its high-performing proprietary slots to a significant, varied library of content from hand-picked third-party studios via its partnership programmes.
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