Acquisitions/Merger
CDI Announces Definitive Agreement to Acquire Preakness Intellectual Property Rights
Churchill Downs Incorporated (CDI) has announced that it has entered into a definitive agreement to acquire the intellectual property, including all trademarks and associated rights, of the Preakness Stakes and Black-Eyed Susan Stakes (the Preakness IP Rights) from 1/ST Maryland LLC, an affiliate of 1/ST Racing, for a purchase price of $85 million, subject to customary closing conditions (the Transaction).
The Preakness IP Rights are subject to an Exclusive License Agreement pursuant to which CDI will license to the State of Maryland the intellectual property rights necessary to conduct the running of the Preakness Stakes and Black-Eyed Susan Stakes in exchange for an annual fee.
The Preakness Stakes, first run in 1873, is the second leg of the Triple Crown of Thoroughbred Racing. The Black-Eyed Susan is a leading race for three-year-old fillies traditionally conducted at Pimlico Race Course on the day before Preakness.
“This acquisition adds one of the most iconic brands in American sports to our portfolio and is consistent with our strategy of investing in premier Thoroughbred racing assets with long-term growth potential. In keeping ownership of the Preakness intellectual property in the racing industry, CDI will support efforts to fully realize the potential of a redeveloped Pimlico and Preakness Stakes within the Triple Crown and the broader sports and entertainment landscape,” said Bill Carstanjen, Chief Executive Officer of CDI.
The parties expect the Transaction to close after the running of the 2026 Preakness Stakes. The Transaction will be funded with cash on hand and the Company’s existing credit facility.
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Acquisitions/Merger
Betr Acquires NFA-Registered Broker Ascent Capital Management to Accelerate Launch of Prediction Markets
Betr, the company behind the world’s first real money gaming super app, announced it has acquired Ascent Capital Management Inc., securing National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC) registration to advance the launch of prediction markets within the Betr super app.
Through the acquisition, Betr becomes a CFTC-registered introducing broker, representing a major milestone in the company’s continued expansion into regulated prediction markets. The transaction allows Betr to accelerate the company’s plans to launch prediction markets powered by Polymarket directly within the Betr super app.
Beginning later this year, Betr plans to make event contracts across sports, politics, culture, and more available to its over one million nationwide paying users through the same seamless experience as Picks, Sportsbook, Casino, and Arcade, all integrated within one wallet and one app.
“Prediction markets represent one of the most exciting evolutions in interactive entertainment and financial technology. Since starting Betr, we have built our business entirely around serving the modern sports fan at scale. This acquisition is another step toward our vision of creating the first true nationwide real-money gaming app. By securing IB registration through the acquisition of an established broker, we can now focus entirely on launching a seamless, compliant prediction markets experience powered by Polymarket. Our users will soon be able to engage with Picks, Sportsbook, Casino, Arcade, and Predictions all within a single integrated ecosystem,” said Joey Levy, Founder and CEO of Betr.
Ascent Capital Management Inc. has been registered as an introducing broker since 2011 and brings established compliance infrastructure that will support Betr’s expansion into the rapidly growing prediction markets category while maintaining strong standards around regulatory compliance and user protection.
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Acquisitions/Merger
FantasySpin and FastDraft Announce Merger to Create the Ultimate Fantasy Sports Platform
FantasySpin, a premier Daily Fantasy Sports (DFS) operator, and FastDraft, the rapidly growing Best Ball platform, announced a corporate merger. The strategic combination will create a fantasy sports powerhouse offering sports fans an unparalleled, all-encompassing fantasy experience.
FantasySpin and FastDraft booked over $1M in contest entries in the first year. The stage is now set for massive 2026/2027 growth as FantasySpin contests will be available to an expanded population of 330 million people across 38 U.S. states and Canada.
DFS Innovation Leader
FantasySpin, renowned for its groundbreaking contributions to the Daily Fantasy Sports (DFS) industry, strengthens its market position with this merger. The company’s patented DFS products gamify the process of building fantasy lineups to provide immediate gratification. FantasySpin users leverage skill and strategy to build teams in a thrilling, slots-like experience—sitting at the intersection of iGaming and fantasy sports. The merger reinforces FantasySpin’s commitment to delivering hyper-engaging user experiences and fostering innovation within the DFS space.
“This merger is a monumental step forward for the fantasy sports industry. Our community loves the immediate gratification of DFS, and we recognize the explosive popularity of the Best Ball format. By joining forces with FastDraft, we are giving more than 60 million fantasy gamers in North America the ultimate toolkit to play how they want and when they want, fast,” said Steve “Dakota” Happas, CEO of FantasySpin.
Revolutionizing Best Ball
FastDraft’s proprietary, user-friendly best ball format allows drafts to finish in under five minutes. The platform eliminates the need for constant in-season roster management, waivers, and trades. The merger allows FastDraft to instantly expand its NFL products to the NBA, PGA, MLB, NHL, and other major sports. With the addition of FantasySpin DFS contests, FastDraft users may now enjoy sweating the action across all major professional sports 365 days a year.
According to FastDraft founder Matt Kelley, the partnership is a game-changer for fantasy sports players around the world.
“These two brands teaming up is excellent news for fantasy players worldwide, and I’m thrilled to witness the exciting possibilities that lie ahead as we unite the best daily and season-long fantasy formats on the planet,” said Kelley.
A Unified Platform Vision
The merger signifies a milestone as FantasySpin looks to integrate its engaging free-to-play and real-money game formats across 5 major professional sports, as well as college football and basketball, into FastDraft’s full suite of NFL fantasy sports contest formats. Users will soon be able to deposit and play seamlessly between platforms, marking a significant advancement in fantasy sports offerings. Anticipated integrations include:
• New DFS Markets: 86% of the U.S. population will have access to FantasySpin’s slots-meets-daily fantasy contests.
• Expanded Contest Optionality: Users will have a robust suite of gamified DFS experiences and rapid Best Ball draft formats across major sports.
• Unified Wallet System: A single account and shared bankroll to manage funds across all game types.
• Shared Promotions and Loyalty Rewards: Earn special prizes, promo funds and free-play bonuses regardless of which format you choose to play.
“The sports gaming ecosystem is heading toward a significant consolidation — operators like DraftKings, FanDuel, Fanatics, Underdog, and Betr are all competing for the same users, many of whom already have accounts across every platform, and the rise of prediction markets (Kalshi, Robinhood) has only accelerated that disruption and pressure on traditional operators. The companies that survive will be those who find ways to differentiate their product or merge with others, and we built FantasySpin around a truly unique experience — where skill meets thrill — precisely for that reason,” said Steve “Dakota” Happas, CEO of FantasySpin.
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Acquisitions/Merger
Bragg Gaming Group to Acquire Drayton International
Bragg Gaming Group announced that it has entered into a binding term sheet (Term Sheet) to acquire Drayton International (Drayton), a diversified gaming technology and content platform.
In conjunction with the closing of the proposed transaction, renowned gaming entrepreneur Matt Davey, Founder and Chairman of gaming-oriented investment fund, Tekkorp Capital, will join Bragg’s Board of Directors (Board) as Non-Executive Chairman, further strengthening the Company’s leadership as it executes its next phase of growth.
In a demonstration of Mr. Davey’s confidence and view on Bragg’s current and future value, he previously purchased a block of 1 million Bragg common shares in a private transaction with the Company’s CEO, Matevž Mazij, in February 2026. The Company estimates that private stock purchase, combined with Mr. Davey’s current Drayton private stock ownership, will result in him having an approximate 10% ownership stake in Bragg following completion of the planned acquisition.
This acquisition represents a bold step forward from its legacy business, as Bragg doubles down on its commitment to crafting captivating proprietary gaming worlds which deliver proven revenue engines for operators and unforgettable experiences for players, with a particular focus on expansion across North America.
This strategic clarity is complemented by a refreshed brand presence, featuring a vibrant new aesthetic that reflects Bragg’s ‘games-first’ commitment. Being games-first is more than the expression implies — it means changing not only games, but also how they are built, delivered, and monetized.
Bragg already combines battle-tested content and player management expertise with smart technology. But this evolution sharpens the focus on what makes Bragg a unique value proposition in the iGaming sector; a data rich, user experience-obsessed, games-first engineering leader. Bragg not only supplies the games that today’s players demand, but also streamlines everything. This optimizes players’ end-to-end journey, redefining Bragg’s core products into one coherent ecosystem.
Transaction Overview
Pursuant to the Term Sheet and subject to entering into a definitive acquisition agreement and the satisfaction of customary closing conditions, Bragg will acquire 100% of the equity interests of Drayton for 4.5 million newly issued Bragg common shares priced at US$2.00 per share. Bragg will also hold rights which will provide it with a contractual path to full ownership of all five of Drayton’s portfolio studios.
Bragg expects that Drayton’s leadership and development teams will continue with the Company post-closing.
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