US Sports Betting: SharpLink Signs a Contract to Acquire SportsHub

US Sports Betting: SharpLink Signs a Contract to Acquire SportsHub

  • SharpLink, the premier provider of data-driven user engagement and conversion solutions for the US iGaming and sports betting industries, has entered into an agreement to purchase SportsHub Games Network, the largest provider of fantasy and sports games.

 

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SharpLink Signs Acquisition Agreement with SportsHub

Last week, SharpLink announced it has entered into an agreement and merger plan to buy SportsHub in its entirety. 

The largest provider of fantasy sports currently provides a variety of real-money fantasy sports and sports simulation games. 

These games are delivered through the licensed platform of a company with approximately 2 million active fantasy sports players. The company claims that its fantasy sports followers spend close to $40 million yearly, while SportsHub alone produced approximately $6 million in annual sales in 2012 alone.

According to SharpLink, the merger aims to accelerate the company’s growth and broaden its customer base. SharpLink will have the exclusive opportunity to build future scalable growth potential due to SportsHub’s existing fan base. 

Although SharpLink and SportsHub have agreed into a merger agreement and plan, the conclusion of the deal is contingent on the satisfaction of certain requirements. The approval of SharpLink’s shareholders will be one of these conditions. SharpLink stated that shareholder approval is anticipated at a meeting scheduled for the fourth quarter of this year.

The Combination Provides Enthusiasm to the Partnership

SportsHub’s chairman of the board, John Lettmann, stated that the company is thrilled to join forces with SharpLink. The combination is anticipated to generate a “huge opportunity for our companies as the US sports betting industry evolves and matures,” he explained. 

Lettmann noted that the combination of SharpLink’s leadership and skills will contribute to the growth of the fantasy sports and gaming industries, creating value for all stakeholders.

Rob Phythian, co-founder and chief executive officer of SharpLink, stated that the acquisition of SportsHub directly targets a loyal fan base for fantasy sports. 

He disclosed that some fantasy sports enthusiasts are currently sports bettors or may become so once the activity is authorized in their state. Phythian acknowledged that a significant number of SportsHub’s fantasy sports players reside in states where sports betting is not yet legal. 

However, he noted that once these governments legalize the activity, these participants are “certain to become bettors.”

SharpLink’s co-founder and the chief executive officer stated that the company’s ultimate objective is to become the go-to provider of high-performing and scalable conversion technology. In addition to creating new revenue streams, this technology is anticipated to improve customer experience and engagement.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.