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NWSL: Value proposition

Weekly / Monday, August 15, 2022
When WNBA legend Sue Bird and former New York Giants quarterback Eli Manning joined the cap table of NJ/NY Gotham FC last month, acquiring small minority stakes at a $40 million valuation, it was heralded as a record price point for the decade-old NWSL. While...

UFC, PBR help Endeavor's Q2 revenue gains

Morning Buzz / Friday, August 12, 2022
Endeavor on Thursday reported adjusted quarterly EBITDA of $306.4M on revenue of $1.313B for the three months through June 2022. Quarterly revenue is up $201M, or 18%, over Q2 2021 due in large part to the performance of owned properties, namely UFC and PBR, and the return of full-capacity...

Barcelona sells more assets to fund player signings

Morning Buzz / Friday, August 12, 2022
LaLiga club Barcelona has sold a further 24.5% of Barca Studios to Orpheus Media for $103M (all figures US) in a "bid to register all their new signings for Saturday's game against Rayo Vallecano." Barca "still have seven players unregistered heading into the first game of the season." But...

OverActive Media grows revenue and cuts losses in half

Esports / Thursday, August 11, 2022
Positive momentum sums up Canadian esports company OverActive Media’s (OAM) sporting and financial performances in the second quarter of 2022. The Toronto Stock Exchange Venture Exchange-listed organization reported increased revenue of $1.83 million and almost cut its net loss in half to $1.84 million, compared to $3.47 million in...

Zynga acquisition boosts Take-Two revenues in Q2 2022

Esports / Tuesday, August 9, 2022
NBA 2K series owner Take-Two Interactive Software completed its acquisition of Zynga and increased net bookings by 41% in the three-month period ended June 30. The New York City-headquartered company revealed in its latest quarterly earnings report that it increased its net revenue year-over-year from $813 million...

Overtime raises $100M in series D funding round

Daily / Tuesday, August 9, 2022
Overtime co-founder and President Zack Weiner said that the company has “raised $100 million in series D funding,” according to Sara Fischer of AXIOS.com. A source said that the latest round "values the six-year-old company at over $500 million.” The series D round is being led by Liberty Media Corporation....

Vivid Seats sees big revenue uptick in Q2

Morning Buzz / Tuesday, August 9, 2022
Secondary ticketing marketplace Vivid Seats brought in revenue of $147.7M and net income of $24.1M in its Q2 earnings release this morning, the latter an increase of 677% from the previous quarter’s $3.1M. Vivid Seats said that Q1 of this year was hit by higher-than-expected event cancellations. It also...

Topgolf gains help Callaway beat Q2 expectations

Closing Bell / Friday, August 5, 2022
Callaway Golf rung up "record financial results for its seasonally strong" Q2, "led by Topgolf’s continued rebound from the pandemic and resilient demand from avid golfers who are shrugging off higher prices." The Carlsbad, Calif.-based company reported revenue of $1.12B, up 22% from the same quarter last year. Net...

Ben Hogan Golf officially shuts down

Closing Bell / Friday, August 5, 2022
Perry Ellis International, the owner of the Ben Hogan Golf Equipment Company, on Friday officially confirmed the shuttering of the longtime club and accessory maker. PEI cited economic challenges and the pandemic as reasons for the move and said the Ben Hogan brand did not have the resources to...

DraftKings raises outlook as company weathers macroeconomic trends

Daily / Friday, August 5, 2022
DraftKings "raised its full-year revenue guidance and said it expects a narrower adjusted loss for 2022 than it had previously forecast after posting better-than-expected results" for Q2, according to Will Feuer of MARKETWATCH. DraftKings CFO Jason Park said that the company "saw 'stronger than anticipated customer activity' in the recently ended...
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