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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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Player Liquidity

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.

 

Innovative Games

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.

 

Cross Platform Ready

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.

 
 
 
30,000,000
Dollars paid out to date
 
100,000+
Player Base
 
1000's
Of Daily Leagues
 
 

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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: Prospectus Filed Pursuant to Rule 424(b)(4) (424b4) 02/27/2017 06:04:54 AM
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FNCX News: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 02/22/2017 01:12:30 PM
FNCX News: Securities Registration Statement (s-1/a) 02/21/2017 06:05:03 AM
News News Alert: Prospectus Filed Pursuant to Rule 424(b)(4) (424b4) 02/27/2017 06:04:54 AM
PostSubject
#460   It will backtest the trading range that was EvenTurdsHaveLegs 02/27/17 06:50:06 PM
#459   Why? Just curious. tjguy 02/27/17 06:15:26 PM
#458   Think we see $2.05 within a month. EvenTurdsHaveLegs 02/27/17 05:03:58 PM
#457   Expect a bounce at least to the spot tjguy 02/27/17 08:20:13 AM
#456   Tough to say, usually would be $.85 - EvenTurdsHaveLegs 02/26/17 11:22:49 PM
#455   do you think that this price will sit obco 02/25/17 09:04:35 PM
#454   Secondary is filled, was offered at $2.25 and EvenTurdsHaveLegs 02/25/17 04:35:59 AM
#453   Why? Secondary priced at $1.05 for March 1st obco 02/24/17 07:40:58 PM
#452   1 Break Could give it a Little boost maybe europtiger 02/24/17 02:04:26 PM
#451   Putting in an order .96 QUANTUM314 02/24/17 12:15:13 PM
#450   In at .96 hbear187 02/24/17 12:08:44 PM
#449   in @ .96 crowin 02/24/17 11:58:36 AM
#448   Definitely interest at current pps. Nice place Lone Wolf 02/24/17 11:12:55 AM
#447   So hard to decide on this one. Lone Wolf 02/24/17 10:42:17 AM
#446   I just got a starter... Looks like some europtiger 02/24/17 09:37:37 AM
#445   Well, at least this will increase the float-size, value1008 02/24/17 09:22:45 AM
#444   Donno... Seems like they Need Money... europtiger 02/24/17 09:19:13 AM
#443   doesnt look good , why so low modrica 02/24/17 09:17:19 AM
#442   5 Milli offer 1,05 europtiger 02/24/17 09:12:37 AM
#441   Decided to jump in here at these depressed tjguy 02/24/17 09:11:25 AM
#440   And there it goes...that attack of the $1's. $FNCX Lone Wolf 02/24/17 08:57:38 AM
#439   Viscous attach. No signs of letting up. Lone Wolf 02/24/17 08:25:45 AM
#438   Good summary, Obco. I'm trying to see where value1008 02/23/17 07:59:26 PM
#437   Nobody participating here? High volume, big swings. Im obco 02/23/17 06:04:55 PM
#436   Setting new lows. I've played this twice for value1008 02/22/17 01:04:27 PM
#435   Beast mode PM Awl416 02/15/17 09:13:20 AM
#434   Was wondering why this turd was exploding... Golf4Food 01/26/17 09:39:01 AM
#433   Obviously i sold too soon-- pre-mkt bid/ask now value1008 01/26/17 09:22:34 AM
#432   Yes, and i can't figure out why it value1008 01/25/17 06:15:19 PM
#431   Nice recovery today. ash111 01/25/17 05:43:46 PM
#430   This is probably the wildest roller-coaster stock i've value1008 01/25/17 03:59:48 PM
#429   https://www.bloomberg.com/press-releases/2016-12-20/draftday-gaming-group-collab ash111 01/17/17 09:54:40 AM
#428   Agree. News out. ash111 01/17/17 09:50:31 AM
#427   This one could so easily bound back up value1008 01/12/17 06:03:32 PM
#426   Volume on the rise again. ash111 01/11/17 11:24:39 AM
#425   Wow great close! mrchinainvestment 12/28/16 08:36:48 PM
#424   Wow, this one really does move up (or value1008 12/28/16 04:32:59 PM
#423   $3.05 ash111 12/28/16 04:20:00 PM
#422   1M float .. WarChest 12/27/16 10:49:53 AM
#421   2.2 wow.driven down on low volume.just a good ash111 12/15/16 02:55:45 AM
#420   2.92 a.h ash111 12/12/16 05:20:05 PM
#419   I agree. N-2-DEEP 12/12/16 03:21:39 PM
#418   the guy who is shorting has no idea ash111 12/12/16 02:51:43 PM
#417   FNCX is now meeting NASDAQ rules: "Following the ash111 12/09/16 02:33:17 PM
#416   thanks for that info,i'm focusing Primarily their Business.Management ash111 12/09/16 01:54:35 PM
#415   Just type on google sillerman, fraud and class stallion 12/09/16 11:49:41 AM
#414   Thanks Ash. Feel like I need to malamutus 12/09/16 09:42:46 AM
#413   Filed yesterday's Moring relating completed June 2015 offering. ash111 12/09/16 03:55:05 AM
#412   Can anyone summarize what the Prospecus just filed malamutus 12/08/16 11:59:01 PM
#411   Can you explain Sillerman's scam? I am new jboatswain 12/08/16 10:44:54 PM
PostSubject