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February 5, 2022

New York Mobile Sports Betting Sets Record with $1.6B

As the old song goes: if you can make it in New York, you can make it anywhere, and it’s safe to say that mobile sports betting companies are thriving. Less than a month into the statewide launch of mobile sports betting, the state has posted $1,624,919,978 in bets in just 23 days. That averages to $70,648,694 per day. The total eclipses the one-month record, which was set in Oct. 2021 by New Jersey when it pulled in $1.3 billion. In addition, New York has generated $58 million in tax revenue over the same period. 

Rockstar Games Confirms New Entry in Grand Theft Auto Series

The developer behind the wildly popular Grand Theft Auto franchise has confirmed that the next installment is “actively under development.” In recent years, Rockstar Games has been largely occupied with the development of its other signature series Red Dead Redemption, while also building out its online gaming space. With its release, it will mark the first original installment since 2010.

Nike, Amazon Reportedly Exploring Peloton Acquisition

Peloton has had a challenging year, to say the least. After taking the market by storm as people were forced into their homes and out of their gyms, the company has experienced a whole host of issues from a PR scandal caused by a fictional storyline to supply chain issues to disappointing sales. Now, there are rumblings that the company may be looking for a buyer. According to reports, both Nike and Amazon have each expressed preliminary interest in buying the at-home fitness company. Peloton’s value has plummeted to $8 billion from $50 billion at this time last year.

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Rolling Stone Acquires Majority Stake in Life is Beautiful Fest

Festival season is nearly upon us. And this year, thousands of music fans will flock to Vegas for the Life is Beautiful Music and Art Festival. Rolling Stone acquired a majority stake in the festival via its parent company Penske Media. While details of the deal are unknown at this time, Rolling Stone plans to grow the festival with a combination of storytelling and digital expansion. It also seeks to expand the number of locations for events beyond Vegas.

NBA Salary Cap to Get a Bump in 2022-2023 Season

It’s not secret that the NBA is a big-money game. And soon, the value is set to increase even more. According to Shams Charania, the league has agreed to increase the projected salary cap for the 2022-2023 season to $121 million and $147 million respectively. The increase reflects a $2 million boost from the current season totals.

Future Nets $75M with All-Star Fundraise

The digital fitness platform, which links you with a personal trainer and utilizes your Apple Watch to track your workouts, completed a successful $75 million Series C led by SC.Holdings and Trustbridge Partners. The round brings Future’s fundraising total to $110 million, and included J.J. Watt, Kevin Durant’s Thirty Five Ventures, Harris Blitzer Entertainment, and Kate Hudson.

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