Philadelphia-based Entercom Communications Corp. said late Tuesday it had closed on a $32 million acquisition of sports data and igaming affiliate platform QL Gaming Group.
The transaction will provide QL Gaming’s data, analytics, and insight-driven content to Entercom’s sports broadcast stations.
“As the sports betting marketplace continues to grow exponentially, the acquisition of QL Gaming Group is a perfect fit for our unrivaled sports audio platform,” Entercom Chairman and CEO David Field said in a statement.
In 2021, under Entercom’s first full year of ownership, QL Gaming Group is expected to generate approximately $12 million in revenue, the company said.
The QL technology portfolio includes sports betting data and analytical capabilities (BetQL), daily fantasy sports (RotoQL), simulation-based sports outcome predictions and game forecasting (AccuScore), and comprehensive analytical coverage of the ATP and WTA Tours (TennisInsight.com), each with respective subscriber base and licensing opportunities.
“Integrating QL’s analytics and content with our sports brands enables us to deliver unparalleled experiences for sports fans,” Field said. “The acquisition builds on our track record of digital growth and further enhances our direct-to-consumer technology portfolio with data and analytics capabilities, while also adding an innovative new subscription offering to our platform.”
QLGG CEO Justin Park will continue to lead the business, reporting to Mike Dee, Entercom’s president of sports, and J.D. Crowley, chief digital officer.
“We are thrilled to be joining the leading sports audio platform, bringing our betting insights and expertise to such a loyal and dedicated fan base,” Park said. “Between our capabilities to make bettors better and the influence Entercom’s platform provides, we can now offer a wholly unique proposition to the sports enthusiast that is second to none.”
Shares of Entercom closed at $1.89 Wednesday on the New York Stock Exchange.
Howard Stutz is the executive editor of CDC Gaming. He can be reached at hstutz@cdcgaming.com. Follow @howardstutz on Twitter.
