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SeventySix Capital Raises Second Sports Focused Venture Capital Fund

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Investors include pro team owners, athletes, and the Commonwealth of Pennsylvania

The sports industry leading venture capital company, SeventySix Capital, announced the initial closing of its second fund to invest in passionate entrepreneurs who are launching game-changing sports betting, esports and sports tech companies.

SeventySix Capital, led by Wayne Kimmel, Jon Powell and Chad Stender, has reshaped the sports venture capital industry. To date in 2021, SeventySix Capital has sold three portfolio companies: VSiN, the sports betting media network led by Brian Musburger, Bill Adee and Brent Musburger (sold to DraftKings – Nasdaq: DKNG), Vigtory, a next generation sportsbook led by Sam Rattner and Scott Butera (sold to FuboTV – NYSE: FUBO), and Team Whistle, a sports and entertainment media company led by John West and Michael Cohen (sold to ELEVEN SPORTS).

“This next fund is an important milestone as we continue building SeventySix Capital as the go-to investment company in the sports industry,” said Wayne Kimmel, SeventySix Capital Managing Partner. “We have proven that we have access to the deals and entrepreneurs seeking to transform the sports world and that we are able to help them build their businesses with our capital investment as well as our sports relationships, knowledge and expertise.”

SeventySix Capital added two additional professional sports team owners as investors and strategic partners in the new fund: Robert Nutting, Owner and Chairman of the board of the Pittsburgh Pirates of Major League Baseball and AMBSE Ventures, a subsidiary of AMB Sports + Entertainment, a portfolio company of Arthur M. Blank, Owner and Chairman of the Atlanta Falcons of the National Football League and Atlanta United FC of Major League Soccer. d

SeventySix Capital expanded its roster of athlete investors with the additions of Emmanuel Sanders, Super Bowl Champion and 2X Pro Bowl NFL Wide Receiver of the Buffalo Bills, Alejandro Bedoya, Captain of the Philadelphia Union, former U.S. National team player and SeventySix Capital Athlete Venture Group Co-Chair, and James Develin, 3X Super Bowl Champion and former Pro Bowl Running Back for the New England Patriots. Brian Westbrook, Philadelphia Eagles Hall of Fame Running Back and SeventySix Capital Athlete Venture Group Chair and DeMarco Murray, former NFL All-Pro Running Back and Coach at the University of Oklahoma are return investors along with the Commonwealth of Pennsylvania’s Ben Franklin Technology Development Authority and multiple family offices.

“I’m excited to officially join the already dynamic team at SeventySix Capital that I have gotten to know well over the last several years through my marketing agent, Dave Maryles (Partner at Rubicon Talent),” said Emmanuel Sanders. “Given my personal passion for esports, it’s great working with Nerd Street, their esports portfolio company. We share similar values and interests in entrepreneurship, the sports business, and overall the drive to work hard to achieve lofty goals.”

SeventySix Capital’s current portfolio companies are leaders in their respective industries: C360, Diamond Kinetics, Fortē, Maestro, Nerd Street, Play by Play, ShotTracker, Swish Analytics, and U.S. Integrity.

This new fund will invest in startup companies that are disrupting and innovating the sports industry through the use of analytics, data and technology. SeventySix Capital aims to capitalize on the growing legal sports betting industry in the United States. The American Gaming Association (AGA) confirmed that U.S. commercial gaming revenue for the first seven months of 2021 nearly matched the entirety of 2020 and is 17.4 percent ahead of the same period in 2019, with 26 states (and Washington D.C.) having launched regulated sports betting. DraftKings (NASDAQ: DKNG) believes the US online sports betting market could eventually be worth $22 billion, assuming 100 percent legalization. The fund will also make investments in companies seeking to transform the fast-growing esports and Gaming industry. Gaming analytics and market research firm Newzoo stated that close to one-third of the global population games and the U.S. Video Game industry in 2020 was larger than Music and Movies combined, according to The NPD Group.

SeventySix Capital Venture Partner and Advisory members include Tim Cabral, former CFO of the $46+ billion market cap company, Veeva Systems, Dan Mason, former CEO of CBS Radio and a National Radio Hall of Fame member, and Michael Schreiber, CEO of Playfly Sports, Co-Founder of SeventySix Capital Sports Advisory and a former executive at NBCUniversal, Comcast and Altice USA.

Steven M. Cohen from Morgan Lewis acted as SeventySix Capital’s fund formation legal counsel and Adam Berger from Duane Morris is the fund’s gaming counsel.

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Canada

St8 extends Wazdan content distribution into Ontario

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St8 has extended its partnership with slot supplier Wazdan into Ontario, adding the supplier’s content to St8’s aggregation platform for operators in the Canadian province.

Under the agreement, St8 has integrated a selection of Wazdan slot titles for Ontario operators, including Mighty Fish™: Blue Marlin, 36 Coins™, Mighty Wild™: Panther Grand Diamond Edition and Mighty Wild™: Gorilla. The roll-out also includes Wazdan mechanics such as Cash to Infinity™, Sticky to Infinity™ and Hold the Jackpot™.

David Fall, Business Development Manager at St8, said: “Our partnership with Wazdan has already delivered impressive results, and extending the collaboration into Ontario is an exciting next step for both companies.

“Wazdan consistently develops high-performing content backed by innovative engagement features, and we are pleased to further strengthen our offering for operators in one of North America’s most important regulated regions.”

Andrzej Hyla, Chief Commercial Officer at Wazdan, said: “This collaboration into Ontario with St8 is another milestone for Wazdan as we continue to build our presence across regulated North American markets.

“Wazdan goes above and beyond for our partners by delivering intuitive products that focus on the quality of the user’s experience, and St8’s platform provides an excellent route for our content to reach more operators and players. It has been a very rewarding process so far, and we look forward to building on this momentum together.”

The post St8 extends Wazdan content distribution into Ontario appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Andrzej Hyla Chief Commercial Officer at Wazdan

St8 extends Wazdan partnership into Ontario

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Casino games aggregator and full-service technology provider St8 has expanded its partnership with Wazdan into Ontario, further strengthening its premium content offering in one of North America’s leading regulated markets.

Through the extended agreement, St8 has integrated a selection of Wazdan’s top-performing slot titles for operators in Ontario, including Mighty Fish™: Blue Marlin, 36 Coins™, Mighty Wild™: Panther Grand Diamond Edition and Mighty Wild™: Gorilla. The partnership also brings Wazdan’s renowned engagement-driven mechanics to the market, including Cash to Infinity™, Sticky to Infinity™ and Hold the Jackpot™.

Wazdan has built a strong reputation through its combination of high-performing games, innovative mechanics and player engagement features. Its focus on creating memorable gameplay experiences aligns closely with St8’s approach to delivering premium content through a seamless aggregation platform.

The Ontario expansion marks the latest step in the ongoing collaboration between the two companies as St8 continues to evolve its content portfolio and support operators with games that deliver strong performance across competitive markets.

David Fall, Business Development Manager at St8, said: “Our partnership with Wazdan has already delivered impressive results, and extending the collaboration into Ontario is an exciting next step for both companies.

“Wazdan consistently develops high-performing content backed by innovative engagement features, and we are pleased to further strengthen our offering for operators in one of North America’s most important regulated regions.”

Andrzej Hyla, Chief Commercial Officer at Wazdan, said: “This collaboration into Ontario with St8 is another milestone for Wazdan as we continue to build our presence across regulated North American markets.

“Wazdan goes above and beyond for our partners by delivering intuitive products that focus on the quality of the user’s experience, and St8’s platform provides an excellent route for our content to reach more operators and players. It has been a very rewarding process so far, and we look forward to building on this momentum together.”

The post St8 extends Wazdan partnership into Ontario appeared first on Americas iGaming & Sports Betting News.

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Alberta

EveryMatrix gets conditional AGLC approval ahead of Alberta iGaming launch

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EveryMatrix has received conditional licensing approval from the Alberta Gaming, Liquor and Cannabis Commission (AGLC) to offer its iGaming technology in Alberta.

The approval allows the supplier to provide casino and sports platform technologies to licensed operators in the province, which is expected to launch a regulated iGaming market in July. Alberta would become Canada’s second regulated iGaming territory after Ontario.

At launch, EveryMatrix said it will offer titles from its in-house studio Fantasma Games and aggregated content, with plans to expand its portfolio over time.

The company said the Alberta approval adds to its North American licensing footprint, which includes Ontario (since 2022) and US states New Jersey, Michigan, West Virginia, Connecticut, and Pennsylvania. EveryMatrix also said it has signed agreements to deliver platform and in-house gaming content in Alberta.

Rani Axon, Market Manager, North America, EveryMatrix, said: “Entering Alberta marks an exciting step for the Group as we expand further into one of North America’s most attractive regulated markets. This approval shows the strength of our compliance team and our readiness to meet regulatory requirements in any market.”

The post EveryMatrix gets conditional AGLC approval ahead of Alberta iGaming launch appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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