Last post should say GRO bought 10M seed shares of MoneylineCanada and US Legalize Online Sportsbetting
There are very few times in our lifetimes when generational investment opportunities come up and create new millionaires/billionaires and industry legends. THE NORTH AMERICAN SPORTS BETTING RACE IS ON—AND ENTREPNEURS WANT A PIECE OF THE ACTION
Over the past several days, two prominent sports gaming companies have bought competing companies.
First, Penn National bought Canada-based theScore for $2 billion in a cash and stock-option deal last week. Then on Monday, DraftKings acquired Golden Nugget Online for $1.56 billion in an all-stock acquisition.
LEGALIZATION OF SPORTSBETTING CONTINUES
Currently many States are legal for sportsbetting and many others have legislation underway to become legal. Canada just passed a bill to legalize sportsbetting and some provinces are going to offer licences to private sportsbook operators.
This change in legislation offers investors a generational opportunity to invest in the sportsbook industry.
Analysts Andrew Tam and Tuna Amobi point out that the US sports wagering market is still in its formative stages, but gaining significant traction. That’s following the 2018 Supreme Court ruling on the Professional and Amateur Sports Protection Act (PASPA). They call PASPA a “watershed event in the evolution of this market.”
The analysts see the North American iGaming and sports wagering segments ascending to $25 billion to $42 billion by 2030. The latter projection is among the highest on Wall Street, but not the rosiest forecast. Earlier this year, Goldman Sachs said online sports betting and internet casinos could jump to $39 billion and $14 billion, respectively, by 2033.
BullRun Capital has recently founded Moneyline Sportsbook to acquire an operating online sportsbook in Colorado and market access in Iowa. Moneyline is also looking to expand to other States in 2022.
In Canada, Moneyline is awaiting the issuance of legislative procedures for Provinces to issue licences to private Sportsbook operators and is planning to apply for licences in Ontario and other provinces as they come online.
Moneyline is a private company at present and planning an IPO in partnership with Canada's largest investment bank, Cannacord Capital in early 2022. Acredited investors wishing to discuss investment opportunities are asked to contact your financial advisor