M Partners initiates analyst coverage on Playmaker
Nicholas Cortellucci bullish on company’s value proposition.
Playmaker Capital Inc., a digital sports media company with a portfolio of sports media and technology brands, on Monday said M Partners, Inc., has initiated analyst coverage on Playmaker.
As reported by Gaming America, Playmaker has made several acquisitions in recent months, including July’s purchase of Yardbarker for $24m, and then a busy September in which it separately announced the launch of “Playmaker Betting,” a new content vertical that will include sports betting content, events, games and more, the addition of poker player Jeff Gross as the company’s latest high-profile investor, and then the selection of Genius Sports as the exclusive reseller of Yardbarker’s digital advertising inventory to sportsbook and gaming brands.
Also in September, Playmaker acquired digital product agency Two-Up Agency Ltd., which provides technical solutions to the online gaming industry’s biggest brands, including News International, BetGenius, William Hill, AtTheRaces, SkyBet and Sporting Solutions.
In November, Playmaker said it “planted a flag” in Canada with the platform acquisition of The Nation Network (TNN) and its wholly owned subsidiary, Daily Faceoff (DFO) for $12m.
According to Playmaker, M Partners’ initial research report and all future reports, if any, may be obtained directly from M Partners.
Per a statement from Playmaker’s legal department, any opinions, estimates or forecasts regarding the performance of Playmaker and its management made by M Partners “are theirs alone and do not represent the opinions, estimates or forecasts of Playmaker or its management. Playmaker does not by this announcement or otherwise imply that the company analyzes or approves of such information, conclusions, or recommendations.”
Nicholas Cortellucci, analyst at M Partners, added: “PMKR is rolling up digital sports media companies at accretive multiples, creating an ecosystem of assets that are becoming increasingly important to sports betting operators that are vying for customers. We believe that as countries such as Canada, Brazil and Argentina launch legal gambling, and the US market continues to open up, this effect will only grow larger, boding well for PMKR’s value proposition.”
Playmaker describes itself as a digital sports media company that lives at the intersection of sports, gambling, media and technology. Officials say the company is building a collection of sports media brands, curated to deliver highly engaged audiences of sports fans to sports betting companies, leagues, teams and advertisers.
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