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Last Post: 5/27/2017 3:49:14 PM - Followers: 40 - Board type: Free - Posts Today: 0

DraftDay Fantasy Sports DDAY formerly known as Viggle - VGGL

A deal to sell daily fantasy sports site DraftDay is finally complete, with Sportech PLC and Viggle Inc. taking over the DFS platform.

The details of the DraftDay deal

A planned deal for Sportech to acquire DraftDay from MGT Capital Investments had been in the works since at least June, when the principles talked about the potential transaction. But it took nearly three months for the sale to become a reality, and it came in a different form than originally announced.

This is the second time DraftDay has been sold since its launch in 2011.

The deal forms a new company: DraftDay Gaming Group, Inc. It will continue to exist as a site that players can use directly for DFS, but it is likely that the new venture will try to leverage DraftDay more as a business-to-business product. From the press release:

DraftDay will be the differentiated platform in the industry, having a leadership team highly experienced in B2B aggregated network operations and regulated gaming markets.

Other details from the press release on the deal:

  • The breakdown of the ownership group: Viggle owns 44%, Sportech owns 35%, MGT owns 10%, with “employees and other shareholders owning the balance,” according to the presser.
    Rich Roberts, current President of Sportech Digital, will serve as DraftDay CEO. Sportech’s Nic Sulsky will be president. Viggle CFO John Small will take over that same role at DraftDay.
    MGT received “approximately $5 million in total consideration” in the transaction.

How DraftDay fits with Viggle

Previously, Sportech had been the driving force behind the deal, it had appeared, and it still maintains a major role in the new company. But it’s interesting to note that Viggle, which had not been a part of the originally announced deal, now owns the largest piece of DraftDay.

Viggle describes itself as “an entertainment marketing and rewards platform whose app rewards its members for watching TV shows and discovering new music.”

Viggle is already acquainted somewhat with the fantasy industry, as it also has a pair of freeplay sports games that allow players to earn rewards — MyGuy and Viggle Football. The former is a fantasy-style game, while the latter is more of a prediction-based game. DraftDay will be Viggle’s first foray into real-money fantasy, however.

Viggle also notes that it has an “average monthly total reach of 23.6 million for the three months ended June 30, 2015, including nearly 10 million Viggle registered users.” Without knowing more details about DraftDay’s plans, it would appear that Viggle has designs on converting some of those users to the DraftDay platform.

How successful that might be is an open question, although freeplay or social casino/poker operators making the transition to real-money games have met with difficulties; see the case of Zynga Poker, which unsuccessfully tried to move to a real-money product in the U.K.

Sportech’s role

While Viggle had not been a part of the real-money gaming industry previously, that’s where Sportech’s expertise will undoubtedly come in.

Sportech, a company based in the U.K., already provides pool betting systems and technologies, operates sports bar and wagering venues under licenses, and according to its website, it processes “over $13 billion bets annually.” Sportech does operate in the U.S., providing horse-racing betting “equipment, services and software” in a number of states, as well as operating racebook services for Connecticut’s Mohegan Sun tribe.

“We are delighted to have expanded our product portfolio in the U.S. into the rapidly growing daily fantasy sports sector, in association with industry partners Viggle and MGT,” Ian Penrose, Chief Executive of Sportech said in a separate press release.

The bottom line: Sportech has the resources and knowhow to leverage DraftDay as a B2B product in some jurisdictions.

Definitely a different business model

No matter how you slice it, DraftDay does not appear to have plans on competing to be in the upper echelon of the daily fantasy sports industry with the likes of FanDuel and DraftKings, which would be a lofty goal for any second-tier operator not named Amaya, Yahoo or CBS. That was made clear in an article at EGR North America (paywall), with Penrose saying as much.

Focusing on the B2B side of the DFS industry, which is still a largely untapped market, appears to be where the future of DraftDay lies.

http://www.draftdaygaming.com/

 
 

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DraftDay Gaming has the player liquidity you need to get started in the daily fantasy sports industry. We have a full group of active players participating in our games, and provide you with the resources to acquire new customers with fantastic promotions and incentives. With DraftDay Gaming you can rest assured that all of your new player acquisitions will have more than enough action to stay active! Learn more.

 

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DraftDay Gaming offers the most innovative games in the industry. We have many game types to ensure your players will always have a contest to play. From our robust salary cap game offerings to our extremely unique Rapid Fire contests and live snake drafts we have you covered! Take all of our games for a test drive now! Click here.

 

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DraftDay Gaming has everything covered. No matter how new players access your site they will be able to play ALL of our games! One of the largest struggles with daily fantasy sites is the cross platform accessibility. DraftDay Gaming works on most devices from personal computers to iPhones. We are also working on new apps which will be hitting the market soon. Learn more.

 
 
 
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testimonials

 
 

It’s one of those sites that you are going to stick with because you love the process. You play better on sites that you can get into a rhythm with, and it’s super easy to join contests after you draft your team.

It’s not glitchy, this site is super clean and fast! It takes way less time to enter contests versus the competitors.

The live scoring is by far the BEST. It’s a great site.

naapstermaan, Professional DFS player
naapstermaan

The customer interface is outstanding for both the full site and the mobile site. Each day I am able to do my research offline, quickly enter my lineups and then adjust as needed via the mobile site. In addition, their customer service is outstanding.

I also love their willingness to continue to be innovative with their game offerings & customer retention programs. It has quickly become my site of choice within the industry!

bsell25, Daily Fantasy Player

There is simply no comparison when it comes to functionality. From opening an account to drafting your first team, the entire process is intuitive and user-friendly.

My favorite features are the multi-lineup edit tool, which allows me to seamlessly manage multiple rosters, and the live scoring screen, which allows me to follow all the action without ever leaving the site.

CrazyGabey, Fantasy Writer - Player
 
 
 
 
Copyright © 2015 - All Right Reserved - DraftDay Gaming Group, Inc.
 
 

October 9, 2015

CT venues taking fantasy football bets

 
 

You no longer have to go online or to a crowded American Legion Hall to pick your fantasy football teams with a dozen friends. You can head out to 14 venues throughout Connecticut to get your fantasy fix.

DraftDay Gaming Group has entered into a partnership with Sportech Venues, Inc. to start offering daily fantasy sports betting. DraftDay is a competitor to FanDuel and DraftKings, which are under increasing scrutiny for their business practices.

British online gambling operator Sportech, which runs a network of horse and greyhound-racing parlors across Connecticut, has a minority stake in pay-for-play fantasy sports website DraftDay.com.

Sportech Venues' locations, branded as "Winners," range from local betting parlors to a 50,000 square foot flagship venue, Bobby V's Restaurant and Sports Bar (located adjacent to Bradley International Airport), the next generation in premier sports entertainment and wagering venues. Sportech's second Bobby V's flagship Sports Bar & Restaurant with wagering will open in Stamford, CT.

http://www.hartfordbusiness.com/article/20151009/NEWS01/151009918/ct-venues-taking-fantasy-football-bets

As previously reported at HartfordBusiness.com, Sportech and New York-based Viggle Inc., which operates a television loyalty program and also launched a fantasy sports app several years ago, said together they paid a total of $5 million to DraftDay's owner, New York-based MGT Capital Investments Inc.

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FNCX News: Amended Statement of Beneficial Ownership (sc 13d/a) 05/18/2017 06:04:48 AM
FNCX News: Amended Statement of Beneficial Ownership (sc 13d/a) 05/18/2017 06:04:33 AM
FNCX News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 05/16/2017 04:34:02 PM
FNCX News: Small Company Offering and Sale of Securities Without Registration (d) 05/15/2017 11:49:45 AM
FNCX News: Proxy Statement - Other Information (preliminary) (pre 14c) 05/11/2017 05:31:24 PM
PostSubject
#685  Sticky Note Investor Conference Notes patentminer2013 05/06/17 10:12:27 AM
#777   Bought more yesterday. Agreed. Kingpin 05/27/17 03:49:14 PM
#776   STRONG BUY ! (FNCX) I believe the management ice1234 05/24/17 05:17:28 AM
#775   Well. Just a heads up, it's a risky G3TCRUNK3R 05/23/17 03:20:18 PM
#774   Let's finally make our way over that dollar Intafocus 05/23/17 12:53:18 PM
#773   Elevated volume, higher pps... Like it. Kingpin 05/23/17 12:51:50 PM
#772   Tick Tock... PRs to begin dropping. Kingpin 05/22/17 07:54:30 AM
#771   Nice action today. Kingpin 05/18/17 01:47:57 PM
#770   As sillerman said, last year toxic lending killed ab304m 05/14/17 06:53:11 AM
#769   This is the start of something big! ab304m 05/14/17 06:51:09 AM
#768   Happy Mothers Day---In Sillerman we Trust 30,000% POP ab304m 05/14/17 06:48:28 AM
#767   FNCX, already made some money here. Now I'm ab304m 05/12/17 01:24:54 PM
#766   Agreed. Kingpin 05/12/17 09:06:31 AM
#765   339 million viewers is incredible. It appears the parrot head 05/12/17 08:34:44 AM
#764   Function(x) and BumpClick Amend Terms of Binding Term patentminer2013 05/11/17 05:37:16 PM
#763   I would be happy if it just goes patentminer2013 05/11/17 10:09:10 AM
#762   -STRONG BUY- BUY- BUY- WE GET TO$1.32 ice1234 05/11/17 10:01:33 AM
#761   Great news today. This is just the start patentminer2013 05/11/17 09:53:50 AM
#760   Thanks, I thought that a couple days ago G3TCRUNK3R 05/11/17 09:50:55 AM
#759   Much higher from these levels. FNCX is a BUY Kingpin 05/11/17 09:46:40 AM
#758   I sold a day early for a loss, G3TCRUNK3R 05/11/17 09:44:25 AM
#757   Gotta agree...same thing with their secondary a couple Lone Wolf 05/10/17 10:15:56 AM
#756   No doubt the filing has put a temporary patentminer2013 05/10/17 08:17:14 AM
#755   The filling killed it. easymoney 05/10/17 07:57:28 AM
#754   Almost bought more...but wasn't / not trusting BATS Lone Wolf 05/10/17 06:05:58 AM
#753   Short swung... easy money like I said PLelek 05/09/17 09:13:55 PM
#752   Sillerman Form 4 filed. Looks like he bought patentminer2013 05/09/17 08:15:29 PM
#751   More and more dumping that don't make sense G3TCRUNK3R 05/09/17 12:03:38 PM
#750   Watch it here. You got volume plus Lone Wolf 05/09/17 10:55:33 AM
#749   STRONG BUY = and Why BUY- ice1234 05/09/17 04:38:43 AM
#748   I saw the news first thin this morning...at Lone Wolf 05/08/17 07:13:06 PM
#747   CEO Robert F.X. Sillerman Leads the Investment patentminer2013 05/08/17 06:09:55 PM
#746   Looks like you got in lower than me! G3TCRUNK3R 05/08/17 05:58:39 PM
#745   Lw, The sell off started early once people saw patentminer2013 05/08/17 05:57:30 PM
#744   You will always have company is that department! Lone Wolf 05/08/17 05:46:06 PM
#743   The offering is a private placement of preferreds Lone Wolf 05/08/17 05:44:19 PM
#742   The aspects of the timing certainly screwed us patentminer2013 05/08/17 05:39:32 PM
#741   They really boned us with that share offering Intafocus 05/08/17 04:09:18 PM
#740   Have to join ya and bid for a Lone Wolf 05/08/17 03:13:27 PM
#739   I bought. That's what happened. WTf, never can G3TCRUNK3R 05/08/17 03:09:48 PM
#738   Holy dumpster dives!! What the heck happened? Lone Wolf 05/08/17 03:08:07 PM
#737   Im about to bid some .78s unless someone G3TCRUNK3R 05/08/17 01:47:20 PM
#736   Yup...in the meantime...'yawn'. Lone Wolf 05/08/17 01:41:24 PM
#735   Adding some shares around the support point of patentminer2013 05/08/17 12:19:08 PM
#734   Hold and wait AD2000 05/08/17 11:50:00 AM
#733   People not happy with the private placement but patentminer2013 05/08/17 10:14:46 AM
#732   Da Da DaaaaaH !!!! FNCX Have a great Yo-Yo 05/08/17 09:18:04 AM
#731   Almost showtime!! Lone Wolf 05/08/17 09:13:01 AM
#730   Oh wow!! You watching the pre here? Lone Wolf 05/08/17 09:08:28 AM
#729   Nice. easymoney 05/08/17 09:06:44 AM
#728   Looks like folks were ready with some powder Lone Wolf 05/08/17 09:05:40 AM
PostSubject