Playmaker Capital has completed the acquisition of US-based sports media business The Sports Drop.
Financial terms of the deal were undisclosed, but Playmaker said that the purchase would support its ongoing growth plans in the US and allow it to reach more English-speaking and Hispanic sports fans in the country.
The Sports Drop generates an average of more than 30 million monthly page views and 200 million monthly ad impressions. Playmaker said it would contribute an average of more than three million monthly users to its North American audience.
In connection with the deal, The Sports Drop founder, Mike Bellom, will join the Playmaker senior leadership team as head of paid media.
“Adding The Sports Drop to Playmaker’s portfolio aligns with our thematic growth strategy of acquiring brands that add new skill sets to our team and create new opportunities for our business,” Playmaker chief executive Jordan Gnat said.
“The Sports Drop’s following of highly engaged and attentive sports fans will complement our existing brands that have a US presence including Yardbarker Media, Bolavip US, and Daily Faceoff.”
Bellom added: “The Sports Drop is already one of the most visited sports sites in the US and by combining forces with Playmaker, we will be able to invest more resources in the creation and distribution of high-quality content that our loyal community of sports fans deserve.
“In my role as head of paid media, I look forward to working alongside some of the most talented individuals in the digital sports media space to grow Playmaker’s already robust network of highly successful digital properties.”
The deal comes after Playmaker in March revealed how a string of acquisitions continued to drive sharp revenue growth for the business in the fourth quarter of 2021, although the group reported a net loss of $3.5m for the financial year.
Revenue reached $7.0m in the fourth quarter – up from $4.8m in the third quarter of 2021. Its revenue was nil in the fourth quarter of 2020, with the soft launch of its new sports betting vertical only having happened in early August 2021 in partnership with operators like BetMGM and Circa Sports.