Published on: March 2, 2021, 09:20h.
Final updated on: March 2, 2021, 09:20h.
Sports betting information provider Sportradar is apparently in conversations to get public through a deal with unique function purchase business (SPAC) Horizon Acquisition Corp. II (NYSE: HZON).
Bloomberg initially reported the news earlier in the day this night, citing unidentified sources knowledgeable about the situation. A valuation for the company that is swissn’t mentioned in that article, but prior speculation indicates the data firm could be valued at $10 billion to $12 billion in a blank-check deal.
The company was last valued at $2.4 billion in 2018. Last year, speculation swirled it was mulling a deal with an blank-check that is unidentified to get general public, but those rumors passed away down only to be resuscitated final thirty days.
Horizon may be the SPAC that is second founded Todd Boehly, a former Guggenheim Partners executive. The version that is first of Acquisition, which trades beneath the ticker “HZAC,” has yet discover a deal, based on SPAC Track.
The sequel went general public October that is last $525 million while declaring an intent to focus on media and entertainment assets.
Sportradar Could Be Jewel Among Gaming SPAC Deals
If the data provider is valued at $10 billion to $12 billion, it would easily be one of the largest of the recent SPAC transactions, gaming or otherwise.
There’s also been chatter that Sportradar’s valuation that is ultimate influence rival Genius Sports, that is being respected at $1.5 billion in blank-check deal with dMY Technology Group, Inc. II (NYSE:DMYD). Genius Sports recently stated it expects to report income of $145 million in 2020 on modified earnings before interest, fees, amortization and depreciation(EBITDA) of $14 million.
While the pace of blank-check deals in the gaming arena, including iGaming, land-based and casinos that are social activities wagering, is brisk, Sportradar ranks among the plum possibilities for investors among organizations in the market which can be nevertheless independently.
The business claims it offers information to 1,000 organizations and possesses agreements with Major League Baseball (MLB), the NBA therefore the NHL also NASCAR therefore the PGA Tour.
Additionally, there’s significant space for development in america, the world’s fastest-growing activities market that is wagering. Sportradar, which has almost $100 million in cash on hand, generates just six percent of revenue in the US.
Impressive Sports Rosters
Between Horizon Acquisition Corp. II and Sportradar itself, the entities have deep sports ties. Boehly, the SPAC’s founder, is a co-owner of the Los Angeles Dodgers while the blank-check firm counts DraftKings CEO Jason Robbins among its advisors.
Sportradar has its group that is own of profile investors, including three NBA owners — Mark Cuban of this Dallas Mavericks, jordan of this Charlotte Bobcats, and Ted Leonsis of this Washington Wizards.
The NFL, that will be a Sportradar client, committed to the ongoing business in 2015 and 2019, based on Bloomberg.