Sportradar Group AG (NASDAQ: SRAD) (“Sportradar” or the “Company”) today announced additional strategic actions as part of its previously announced initiatives to streamline its organizational structure to enhance focus on clients and partners, drive global innovation and product development, and propel long-term growth, profitability, and shareholder value.
“I am excited to announce this new global organization and leadership structure, which aligns our teams on our strategic priorities, promotes agile execution and better positions Sportradar for future growth,” said Carsten Koerl, CEO of Sportradar. “By centralizing our key business functions, we will foster greater collaboration and faster decision making, enabling us to drive further operating efficiencies and increased innovation across our business. These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us. I am confident we have the right leaders in place, intently focused on executing on our strategic priorities. For 2023, we remain on track to deliver on our strong growth targets and are well positioned to maintain that momentum into 2024.”
Effective immediately, the new organizational structure consists of six business functions:
- Product Delivery and Operations combines and centralizes content, product development and engineering globally to seamlessly deliver best-in-class products and solutions to clients and partners, led by Warren Murphy, previously Chief Product Officer and now Chief Delivery and Operations Officer.
- Growth and Innovation combines growth, strategy and innovation to facilitate a unified vision for identifying and capitalizing on market opportunities, thereby ensuring a well-defined growth strategy fueled by continuous innovation, led by Nick Maywald, previously Chief Content Officer and now Chief Growth and Innovation Officer.
- Commercial combines the Company’s go-to-market functions, including sales, client services and care, sports partnerships, marketing and communications to further drive revenue opportunities while enhancing its client- and partner-centric approach, led by Chief Commercial Officer Eduard Blonk.
- Legal, Risk and Administrative Services, led by Lynn McCreary, Chief Administrative Officer, Chief Legal Officer and Corporate Secretary.
- People, led by Severine Riviere-Gerstner, Chief People Officer.
- Finance, led by Gerard Griffin, Chief Financial Officer.
As part of these organizational changes, Ulrich Harmuth, Chief Strategy Officer, will be departing the Company to pursue other endeavors.
Separately, Griffin has informed the Company that he will be leaving for personal reasons. Griffin will continue as CFO until May 31, 2024, or the appointment of a permanent successor, if earlier. The Company has initiated a search for its next CFO, whom it expects to announce prior to Griffin’s departure.
Sportradar also reaffirmed its fiscal 2023 guidance of revenue in the range of €870 million to €880 million, representing year-over-year growth between 19% and 21%, Adjusted EBITDA1 in the range of €162 million to €167 million, representing year over-year growth between 29% and 33%, and Adjusted EBITDA margin in the range of 18.4% and 19.2%. The Company also reaffirmed its fiscal 2024 outlook for revenue and Adjusted EBITDA growth of at least 20%.
Koerl continued, “I want to thank Ger for his contributions to Sportradar. He has meaningfully strengthened our finance team with a deep and talented bench that will continue to contribute to the Company as we look to drive growth and profitability into the future. We look forward to continuing to benefit from his leadership while we search for a permanent successor.”
Koerl concluded, “I also want to thank Ulrich for his contributions to our company, clients and partners that have positioned Sportradar for continued success. For over a decade, he held various leadership roles, contributing to our growth. We wish him the best in his future endeavors.”
Ukrainian National Lottery Unveils New Instant Lotteries with NeoGames Partnership
Ukrainian National Lottery has recently expanded its offerings, introducing new instant lotteries provided by NeoGames since the beginning of February. These lotteries are now exclusively available on the UNL website.
UNL’s collaboration with NeoGames SA has facilitated the introduction of premium-level online lotteries to Ukrainian players. The partnership aims to bring popular European and American lotteries to the Ukrainian audience, expanding the UNL’s offering.
The launch includes four new lotteries boasting top prizes of up to 2,000,000 hryvnias. Among these offerings is “VIP Ultra”, described as a blend of classic scratch lottery design and game mechanics with luxurious elements.
Additionally, the introduction of “Queen of Diamonds” marks another portfolio addition, historically attracting a large number of lottery ticket sales among instant online lotteries.
Bragg Gaming Continues U.S. Expansion with Golden Nugget in Michigan
Bragg Gaming Group proudly announces that it has gone live with its newest games and Remote Game Server (RGS) technology at Golden Nugget in Michigan. This milestone marks a significant step in Bragg’s ongoing commitment to delivering innovative and engaging content to players across North America.
Games now available to Golden Nugget’s players in Michigan include popular titles such as “Cai Fu Emperor Ways” and “Egyptian Magic” from Bragg’s Atomic Slot Lab, along with the thrilling “Devil’s Lock” from Bluberi.
All online casino games delivered on Bragg’s new RGS technology come with the Company’s Fuze promotional tools as standard which offer player engagement features on games such as free rounds, tournaments and quests.
H2 Gambling Capital projects an impressive Gross Win of over USD $2 billion for the regulated online casino market in Michigan in 2024, highlighting the tremendous growth potential in the region.
Kunal Mishra, Chief Operating Officer – Americas, at Bragg Gaming Group, said: “We continue to strengthen our relationships with key iGaming operators in North America, and the expansion with Golden Nugget in Michigan is a testament to our successful strategy. By offering our high-quality, engaging content, we aim to contribute to the long-term growth of our partners and provide an exceptional gaming experience for players.
“This achievement builds on Bragg’s existing collaboration with Golden Nugget, aligning with the company’s vision to deliver cutting-edge gaming solutions to players in the rapidly growing U.S. iGaming market.”
Fanatics Sportsbook Launches Today in Michigan
Fanatics Betting and Gaming, a subsidiary of Fanatics Holdings Inc, a global digital sports platform, launched the Fanatics Sportsbook & Casino today in Michigan. Sports fans living in and visiting Michigan will be able to download the Fanatics Sportsbook on iOS and Android and begin their Fanatics Sportsbook and Casino experience. Michigan marks the thirteenth state for the Fanatics Sportsbook and third state for Fanatics Casino.
In August 2023, Fanatics Betting and Gaming began acquiring the U.S. businesses of PointsBet and planning the migration of PointsBet customers to the Fanatics Sportsbook app. Today in Michigan only, each PointsBet customer’s username, password, account balance, rewards points and responsible gaming settings will be automatically migrated to the Fanatics Sportsbook.
The Fanatics Sportsbook makes being a fan easy with fast signup, easy betting, transparent withdrawals and is disrupting the sports betting industry with the following new features:
- Building a better sportsbook: The Fanatics Sportsbook app was built natively on iOS and Android. The design, speed and quality of the navigation experience rival the sports betting apps in the market today that were not built specifically for iOS and Android.
- FanCash: The Fanatics Sportsbook is the only sportsbook that gives customers up to 5% of their wager back in FanCash. Every dollar of FanCash is a dollar to spend on bonus bets or at Fanatics.com.
- Discover: Everything a customer cares about, including marquee games, key stats, trending bets, delivered straight to one location – the Discover feed.
- Search: The Fanatics Sportsbook offers industry-leading search functionality, including a search bar, recent searches, autocomplete, synonym/alias and deep linking. Customers can search easily for the bet they want and bet directly right from the search results.
As part of the launch in Michigan, Fanatics Betting and Gaming will also launch its new online casino, embedded in the Fanatics Sportsbook app. The newly designed Fanatics Casino will feature a range of classic and popular casino favorites like roulette, slots and blackjack along with offering customers the following exciting new features:
- Play with IGT Play Digital: Fanatics Casino players can enjoy a range of highly engaging IGT PlayDigital games including many of the classic titles that iGaming players love including Cash Eruption, Fortune Coin and Cleopatra, as well as a suite of MegaJackpots titles, proprietary table games and video poker content.
- Evolved Live Casino Games: Fanatics Casino has partnered with Evolution to provide customers with world-leading live casino games including Blackjack, Roulette, Craps, Baccarat and Poker variants. In addition, Evolution will provide Fanatics Casino with an exciting lineup of online slots, the award-winning Lightning Roulette, and many more games to come.
- Wonderful New Games: Light & Wonder will provide Fanatics Casino with a wide range of the company’s first party titles, including top-performing games 88 FORTUNES, JIN JI BAO ENDLESS TREASURES, DANCING DRUMS EXPLOSION, and ULTIMATE FIRE LINK CHINA STREET. In addition, Light & Wonder will offer Fanatics Casino customers access to third party aggregated content from some of the world’s biggest studios such as Big Time Gaming, Reel Play, Gaming Realms and Hacksaw.
- Rewards: Casino customers can earn FanCash back on bets, spins and hands and convert FanCash to bonus bets on Fanatics Sportsbook or to purchase team merchandise at Fanatics.com.
- Fanatics Game Studios: Fanatics Betting and Gaming has produced exclusive content including the new Fanatics Blackjack game developed in partnership with Boom Entertainment. More games are scheduled for later this year.
Fanatics Betting and Gaming believes that responsible gaming is a core tenet and a part of the organization’s DNA. Online customers will have access to Responsible Gaming tools to manage their time and money alongside a best in class Help Center, chat experience and knowledgeable agents with 24/7 coverage.
To download images and videos of the Fanatics Sportsbook and Casino, visit the Fanatics Media Center and for more news and information, follow us on the Fanatics Sportsbook social channels on X @FanaticsBook_PB and on Instagram @FanaticsBook_PB.
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