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Esports Entertainment Group reveals serious struggles with esports assets

Esports / Tuesday, May 24, 2022
Online gambling and esports company Esports Entertainment Group (EEG) published its quarterly earnings for the period ended March 31, 2022, on Monday, revealing troubles with esports assets. While the Nasdaq-listed company was able to increase its revenue year-over-year, its net loss also quintupled, exhausting most of EEG’s...

Louisiana sports body's bonds upgraded to stable

Morning Buzz / Tuesday, May 24, 2022
Fitch Ratings revised its rating outlook for bonds issued by the Louisiana Stadium & Exposition District from negative to stable, a decision based largely on the continuing rebound of New Orleans tourism, which has suffered throughout the pandemic. Hotel tax revenues pledged to servicing the LSED’s bonds and bond...

SpotOn raises $300M in latest funding round

Closing Bell / Friday, May 20, 2022
SpotOn has raised a $300M Series F funding round. Dragoneer Investment Group led the round, with continued participation from existing SpotOn investors Andreessen Horowitz, DST Global, Franklin Templeton and Mubadala Investment Company, plus one new investor, G Squared. SpotOn, a software and payments company with a $3.6B valuation, is...

A-Rod invests in Professional Fighters League

Morning Buzz / Thursday, May 19, 2022
Alex Rodriguez is investing in the Professional Fighters League and joining its BOD as the company “looks to enter new markets and start a new pay-per-view operation.” Private equity firm Waverley Capital Partners led the $30M round, which “values the PFL at $500 million.” This fresh capital brings...

OverActive Media grows revenue by 62%, nets $3.6 million loss for Q1

Esports / Wednesday, May 18, 2022
Esports, media and entertainment company OverActive Media (OAM) continues to push toward profitability in the first quarter of 2022, as its revenue increases at a higher rate than its operating costs. The TSXV- and OTCQB-listed Canadian company reported its financial results for the three-month period...

Andreessen Horowitz launches $600 million games fund

Esports / Wednesday, May 18, 2022
Venture capital firm Andreessen Horowitz announced today the launch of its inaugural $600 million Game Fund One, a “fund dedicated to building the future of the games industry.” Also known as a16z, the firm is no stranger to investments in gaming and esports. At the end of...

Major League Cricket raises $44M in funding round led by Microsoft's Nadella

Daily / Wednesday, May 18, 2022
Major League Cricket has completed a $44M Series A and A1 fundraising round, with an additional commitment of $76M from investors over the next 12 months. Microsoft CEO Satya Nadella, a Sounders investor who also oversaw Microsoft’s $68.7B acquisition of Activision Blizzard earlier this year, is one...

Take-Two beats financial expectations behind strength of NBA 2K

Daily / Tuesday, May 17, 2022
Take-Two Interactive Software reported its financial results for its Q4 and FY '22, which ended March 31. The company’s profit significantly beat its guidance, driven by its top recurring consumer spending contributors, including the NBA 2K franchise. In its report, Take-Two revealed that its NBA 2K franchise,...

NBA 2K franchise helps Take-Two post a strong fiscal year 2022

Esports / Tuesday, May 17, 2022
NBA 2K League co-owner Take-Two Interactive Software reported its financial results for its last quarter and full fiscal year 2022, which ended March 31, 2022. Just like Electronic Arts last week , the stock market received the results published after the market...
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