From the Desk of…Wayne Kimmel, Managing Partner, SeventySix Capital
There is a dynamic convergence of the sports, tech, and gaming industries happening right now. Entrepreneurs backed by investors, like my team and I at SeventySix Capital, are transforming the world of sports betting and gaming.
The use of cutting-edge technology has disrupted other asset classes such as finance and health care and has now made its way into sports betting and gaming. Whether it’s data, analytics, machine learning, augmented reality, or Web3, entrepreneurs are reimagining what sports betting and gaming can be. We have only begun to scratch the surface of what is to come.
Major technology companies like Amazon, Apple, Microsoft, Meta (Facebook), Netflix, and Google (YouTube) are starting to make their moves in sports, streaming, and rights deals. We must keep our eyes on this.
Also, the changes in amateur and collegiate sports is another area to watch. Name, image, and likeness (NIL), sports betting partnerships with universities, and the money that is wagered on these games is creating seismic changes to the collegiate sports industry
We have seen traditional sports media companies like ESPN, NBC, and CBS do a 180 when it comes to talking about odds on their shows and during the coverage of games. Legendary sportscasters like Brent Musburger (founder of VSiN - The Sports Betting Network that was sold to DraftKings in 2021) and Al Michaels (now the play-by-play announcer for Amazon's Thursday Night Football) no longer have to make subtle sports betting references. The immediate effect of sports betting can be seen across the NFL’s recent media and data deals that were $113 billion and $1 billion, respectively.
These developments are game-changing and underline why SeventySix Capital is investing in this asset class.
We need to continue to recruit the most talented people in the world to join the industry and there is no better place to do it than at G2E 2022 in Las Vegas from October 10-13. As a member of the G2E Conference Advisory Board, I look forward to seeing all of you there. Be sure to invite your friends and business colleagues. G2E is the place to discover, connect, and explore the future of sports betting and gaming!
Register today to attend G2E 2022, taking place October 10-13 (Education: October 10-13 | Expo Hall: October 11-13) at The Venetian Expo in Las Vegas.