Thursday, October 6, 2022

SharpLink enters agreements to acquire SportsHub

SharpLink Gaming has purchased fantasy and sports game provider SportsHub Games Network in an all-stock transaction. 

Founded in 2015, SportsHub operates a variety of real-money fantasy sports and sports simulation games on its own platform. Its fully-licensed platform reaches over 2 million fantasy sports fans who spend around $40m annually on SportsHub’s portfolio of games and contests. The company generated nearly $6m in annual revenue for 2021. 

Games available on the platform include: National Fantasy Championships, Bestball10s, Fanball, Fantasy National Gold Glub, WhatIfSports, and LeagueSafe. 

Rob Phythian, Co-Founder and CEO of SharpLink, commented: “This acquisition gives SharpLink access to a large and loyal base of fantasy sports fans who we know are also sports bettors, or would likely become sports bettors when legalised in states where they reside. 

“With a thriving ecosystem of cash players, many of whom have money in their user accounts, we have a tremendous opportunity to seamlessly integrate compelling sportsbook offers within all aspects of the user experience.” 

John Lettmann, Chairman of the Board of SportsHub, added: “We are excited about the combination of SportsHub and SharpLink. It represents a merger that we believe will create a significant opportunity for our companies as the US sports betting industry evolves and matures. 

“SharpLink’s leadership and expertise will help accelerate growth within our core fantasy sports and gaming products and allow us to become an industry leader in how sports media and gaming operators interface with sportsbooks to deliver value for all stakeholders.” 

Last month, SharpLink named Robert DeLucia as its new CFO. 

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