Canada
SeventySix Capital Raises Second Sports Focused Venture Capital Fund
Investors include pro team owners, athletes, and the Commonwealth of Pennsylvania
The sports industry leading venture capital company, SeventySix Capital, announced the initial closing of its second fund to invest in passionate entrepreneurs who are launching game-changing sports betting, esports and sports tech companies.
SeventySix Capital, led by Wayne Kimmel, Jon Powell and Chad Stender, has reshaped the sports venture capital industry. To date in 2021, SeventySix Capital has sold three portfolio companies: VSiN, the sports betting media network led by Brian Musburger, Bill Adee and Brent Musburger (sold to DraftKings – Nasdaq: DKNG), Vigtory, a next generation sportsbook led by Sam Rattner and Scott Butera (sold to FuboTV – NYSE: FUBO), and Team Whistle, a sports and entertainment media company led by John West and Michael Cohen (sold to ELEVEN SPORTS).
“This next fund is an important milestone as we continue building SeventySix Capital as the go-to investment company in the sports industry,” said Wayne Kimmel, SeventySix Capital Managing Partner. “We have proven that we have access to the deals and entrepreneurs seeking to transform the sports world and that we are able to help them build their businesses with our capital investment as well as our sports relationships, knowledge and expertise.”
SeventySix Capital added two additional professional sports team owners as investors and strategic partners in the new fund: Robert Nutting, Owner and Chairman of the board of the Pittsburgh Pirates of Major League Baseball and AMBSE Ventures, a subsidiary of AMB Sports + Entertainment, a portfolio company of Arthur M. Blank, Owner and Chairman of the Atlanta Falcons of the National Football League and Atlanta United FC of Major League Soccer. d
SeventySix Capital expanded its roster of athlete investors with the additions of Emmanuel Sanders, Super Bowl Champion and 2X Pro Bowl NFL Wide Receiver of the Buffalo Bills, Alejandro Bedoya, Captain of the Philadelphia Union, former U.S. National team player and SeventySix Capital Athlete Venture Group Co-Chair, and James Develin, 3X Super Bowl Champion and former Pro Bowl Running Back for the New England Patriots. Brian Westbrook, Philadelphia Eagles Hall of Fame Running Back and SeventySix Capital Athlete Venture Group Chair and DeMarco Murray, former NFL All-Pro Running Back and Coach at the University of Oklahoma are return investors along with the Commonwealth of Pennsylvania’s Ben Franklin Technology Development Authority and multiple family offices.
“I’m excited to officially join the already dynamic team at SeventySix Capital that I have gotten to know well over the last several years through my marketing agent, Dave Maryles (Partner at Rubicon Talent),” said Emmanuel Sanders. “Given my personal passion for esports, it’s great working with Nerd Street, their esports portfolio company. We share similar values and interests in entrepreneurship, the sports business, and overall the drive to work hard to achieve lofty goals.”
SeventySix Capital’s current portfolio companies are leaders in their respective industries: C360, Diamond Kinetics, Fortē, Maestro, Nerd Street, Play by Play, ShotTracker, Swish Analytics, and U.S. Integrity.
This new fund will invest in startup companies that are disrupting and innovating the sports industry through the use of analytics, data and technology. SeventySix Capital aims to capitalize on the growing legal sports betting industry in the United States. The American Gaming Association (AGA) confirmed that U.S. commercial gaming revenue for the first seven months of 2021 nearly matched the entirety of 2020 and is 17.4 percent ahead of the same period in 2019, with 26 states (and Washington D.C.) having launched regulated sports betting. DraftKings (NASDAQ: DKNG) believes the US online sports betting market could eventually be worth $22 billion, assuming 100 percent legalization. The fund will also make investments in companies seeking to transform the fast-growing esports and Gaming industry. Gaming analytics and market research firm Newzoo stated that close to one-third of the global population games and the U.S. Video Game industry in 2020 was larger than Music and Movies combined, according to The NPD Group.
SeventySix Capital Venture Partner and Advisory members include Tim Cabral, former CFO of the $46+ billion market cap company, Veeva Systems, Dan Mason, former CEO of CBS Radio and a National Radio Hall of Fame member, and Michael Schreiber, CEO of Playfly Sports, Co-Founder of SeventySix Capital Sports Advisory and a former executive at NBCUniversal, Comcast and Altice USA.
Steven M. Cohen from Morgan Lewis acted as SeventySix Capital’s fund formation legal counsel and Adam Berger from Duane Morris is the fund’s gaming counsel.
Internet Gaming Operator by the Alcohol and Gaming Commission of Ontario (AGCO).
This significant milestone authorizes absolutebet to offer regulated iGaming services in Ontario’s legal market under the oversight of AGCO and iGaming Ontario (iGO).
The registration marks a key step in absolutebet’s mission to bring a trusted, responsible, and innovative online casino experience to Ontario players. absolutebet is committed to operating with integrity and transparency, meeting all provincial standards for player protection, responsible gambling, anti-money laundering, and game integrity.
“Securing AGCO registration is more than a milestone—it’s the start of absolutebet’s journey in one of the most exciting regulated markets in the world,” said Chen Truman, Founder of absolutebet. “We are building a brand that will grow with the Ontario community and set the stage for future expansion.”
On the regulatory milestone, Krisztina Kalla, Legal & Regulatory Compliance Advisor of absolutebet, commented: “I’m incredibly proud to see all the hard work behind this license pay off. Securing AGCO registration has taken months of preparation and close collaboration with regulators and partners. I am very happy to see the result of that work, and even more excited as we move into the launch phase and open up the absolutebet community to Ontario players in a fun and responsible way.”
Ontario is recognized as one of the most competitive and fast-growing regulated iGaming markets in North America. With AGCO registration secured, absolutebet will move forward with the final stages of its iGO onboarding process in preparation for launch.
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Alex Malchenko Head of Sales at Evoplay
Evoplay strengthens Ontario presence in partnership with Caesars Entertainment
Evoplay, the award-winning game development studio, has partnered with Caesars Entertainment to expand its footprint in the Canadian market, following its initial entry earlier this year. The partnership integrates 20 of the studio’s top-performing titles onto Caesars Palace Online Casino, Horseshoe Online Casino and Caesars Sportsbook & Casino in Ontario, including fan-favourites such as Hot Triple Sevens, Triple Chili, and The Greatest Catch Bonus Buy.
Having announced its official entrance into Ontario in March, the collaboration with Caesars marks a significant step in Evoplay’s local strategy. Further standout releases, such as Inner Fire Bonus Buy and Hot Volcano, also launched as part of the initial package, with additional player favourites, including Fruit Nova and Ice Mania.
The collaboration underlines Evoplay’s commitment to working with leading operators to deliver high-quality content tailored to regional audiences.
Alex Malchenko, Head of Sales at Evoplay, said: “Launching with Caesars in Ontario marks a key milestone in our North American strategy.
“It reflects both the strength of our portfolio and our commitment to providing innovative, high-performing content to operators of the highest caliber.”
Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital, said: “Evoplay brings a fresh and dynamic approach to online gaming, which we’re excited to offer to our players in Ontario. This portfolio of standout titles adds to our growing content library and furthering our ongoing goal of delivering top-tier entertainment experiences to our players.”
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The iGaming Ontario Board of Directors has announced Joseph Hillier as the organization’s new President and Chief Executive Officer, effective September 8, 2025. Joseph’s depth in the Ontario igaming market combined with successful public and private sector careers make him the ideal President and CEO at this critical point in iGaming Ontario’s growth.
Joseph was most recently Chief Strategy Officer and Corporate Secretary at the Alcohol and Gaming Commission of Ontario (AGCO), where he delivered significant strategic and regulatory initiatives across the province’s alcohol, cannabis, gaming, and horse racing sectors. Prior to the AGCO, he served as Chief of Staff to Ontario Attorney General Hon. Doug Downey and led the development, launch and implementation of Canada’s first private sector-driven igaming market and the creation of iGaming Ontario. Joseph also spent more than a decade working in the financial and legal services sectors.
The Board expressed its sincere thanks to David Smith for serving as Interim President and Chief Executive Officer since Martha Otton’s retirement.
The post iGaming Ontario Appoints Joseph Hillier as its New President and CEO appeared first on Gaming and Gambling Industry in the Americas.
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