Entain To Bolster BetMGM With Angstrom Sports Purchase

SportsGrid

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00:00 (upbeat music)

00:02 Okay, so BetMGM has a new look as well.

00:05 Their parent company has purchased

00:06 a sports new data analytics firm.

00:10 Tell us more about this.

00:11 - Yeah, it seems like everyone's trying to get a new look

00:14 ahead of football season.

00:16 This is obviously the downtime

00:18 in the sports calendar, as you know.

00:20 So you're seeing these apps really ramp up

00:22 their new product, new technology to launch

00:24 when you have a lot of people betting later this fall.

00:27 So BetMGM parent company Intane purchased

00:32 Angstrom Sports, which is a sports data analytics company

00:35 focusing on US sports.

00:37 The purchase is worth up to about $265 million

00:41 over the next three years.

00:42 So it's a pretty big investment.

00:45 What this will allow them to do

00:47 is basically leverage their pricing capabilities,

00:50 which means for the better, probably losing more.

00:53 They're leveraging their prediction-based modeling,

00:57 which they're all gonna try to roll

00:58 into a better parlay product,

00:59 better live betting experience

01:02 where markets pop up faster

01:04 and really just improve their product overall.

01:07 In sports betting, in the business side of things,

01:09 we always say the product is what wins out,

01:11 what bettors like to use, what's easy for bettors,

01:14 what's responsive.

01:15 Live betting is obviously this huge kind of journey

01:19 that sports books are trying to really get into

01:24 but haven't really been able to crack the surface

01:26 or scratch the surface on yet.

01:27 So this is a pretty big investment.

01:29 We'll see what the product looks like come football season.

01:32 They said the transition onto the new technology

01:36 should be done sometime during football season,

01:39 if not right before.

01:41 But Intane owns half of BetMGM along with MGM Resorts.

01:44 And they've acquired a lot of companies over the past year

01:48 to try to boost the product.

01:49 They're kind of the one that does it

01:50 between them and MGM Resorts.

01:52 So it'll be interesting to see

01:53 what the product ultimately looks like.

01:56 (upbeat music)

01:58 (bells chiming)

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