Entercom Communications has acquired sports data and igaming affiliate platform QL Gaming Group in an all-cash deal for around US$32m.
The acquisition brings data, analytics and insight-driven content to Entercom’s broadcast stations, podcasts and digital audio platform Radio.com.
The QLGG 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.
David Field, chairman, president and CEO at Entercom, said: “As the sports betting marketplace continues to grow exponentially, the acquisition of QL Gaming Group is a perfect fit for our unrivalled sports audio platform.
“Integrating QL’s analytics and content with our sports brands enables us to deliver unparalleled experiences for sports fans. 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.”
Justin Park, co-founder and CEO of QLGG, will continue to lead the business reporting to Mike Dee, president of sports, and J.D. Crowley, chief digital officer. In 2021, under the company’s first full year of ownership, QL Gaming Group is expected to generate approximately $12m in revenue with an EBITDA margin in the high 20s.
Park said: “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. 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.”
