Caesars expects profitable 2023, ESPN renews F1 contracts, and Georgia State Senate shoots down a betting bill. Here’s STATSCORE‘s Review!
- ESPN benefits from Formula 1 popularity
- Caesars expects profitable 2023, after generating losses of over US$1.1bn
- Betting bill rejected in Georgia’s senate
- How are women leading top sports and betting organizations?
- Survey says baseball’s not dead
ESPN benefits from Formula 1 popularity
The popularity of Formula 1 has been growing at a rapid rate in recent years, partly thanks to Netflix docuseries Drive to Survive.
The most spectacular growth has been witnessed in the United States. ESPN bought US media rights for F1 in 2018, and since then F1 has broken popularity records.
Last year Formula 1 charged the network around $75-90 million annually for a three-year media-rights renewal, which runs from 2023 through 2025.
ESPN has also just renewed Formula 1 rights in Latin America and the Caribbean. Read more
Caesars expects profitable 2023, after generating losses of over US$1.1bn
CEO Tom Reeg said the digital business should run at $550 million in adjusted EBITDA for “at least a quarter or two” in 2024 before hitting that rate for good in 2025.
“You’ve got a business that’s growing organically and has added a bunch of states, some more recently than others. There doesn’t appear to be a huge new state pipeline coming on,” Ceasars CEO said. “Obviously, we’ve got a significant ramp expected in iGaming as we get into back half of ’23″. Read more
Betting bill rejected in Georgia’s senate
State Senate firmly (37-19) rejected legislation to legalize sports betting in Georgia.
The moral integrity of mobile sports betting and the inclusion of horse racing language were focal points of opposition to the bill. Read more
How are women leading top sports and betting organizations?
CNBC analyses the role of women in top sports business organizations.
FanDuel CEO Amy Howe is the chief executive of United States’ leading sports betting company, Renie Anderson holds key position in the NFL, and Jessica Gelman is the co-founder of MIT Sloan conference. What makes them stand out in a crowd? Read more
Survey says baseball’s not dead
While the NFL remains America’s favorite sports league, baseball still ranks second.
A lot has been said about baseball’s demise but according to Ipsos’ recent survey, the sport still remains one of America’s favorite pastimes. Read more
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