Posted on: Oct 22, 2021, 12:47h. 

Previous current on: October 22, 2021, 01:12h.

SportsMap Tech Acquisition Corp. (NASDAQ:SMAPU), a distinctive function acquisition company (SPAC), raised $115 million in its original community featuring (IPO) as it prepares to hunt for merger companions.

SportsMap Tech
SportsMap Tech is a new SPAC from the proprietor of SportsMap Radio. The blank-look at agency could go after media bargains. (Picture: SportsMap Radio)

Blank-verify providers encountered some headwinds before this calendar year. But the auto remains common in the gaming arena. Operators are embracing SPACs as an avenue for immediately bringing to marketplace iGaming and sporting activities wagering firms, unlocking price for investors in the procedure.

SportsMap is led by CEO David Gow, the founder and CEO of Gow Media, a multi-platform media enterprise with a portfolio of platforms, like ESPN Radio Houston and the SportsMap Radio Network and digital material web pages, amid other individuals. The enterprise options to leverage management’s encounter and concentrate on possibilities in athletics tech, with a target on admirer engagement, wellbeing and wellness, esports, and fantasy athletics and gambling,” according to Renaissance Cash, an IPO investigate company.

Gow Media is the greatest privately held media corporation in Texas.

Betting Promotions Make Feeling for SportsMap

Although SportsMap declared an intent to concentrate on feasible merger companions in unique segments, together with fantasy sports activities and wagering, blank-test providers are not certain by any obligation to locate a merger spouse in a distinct sector or sector.

That mentioned, a SportsMap/betting marriage helps make sense, as the media firm currently features multiple sports wagering courses on its radio network. For case in point, “Pushing the Odds” is a committed wagering exhibit, although the well-liked “Ferrall Coast to Coast” commonly delves into betting chatter, specifically for the duration of soccer year. “College Football Entire Circle” — a podcast hosted by Mike Carver and Joe Lisi — focuses on NCAA football wagering.

Houston-primarily based SportsMap also operates the SportsMapBets internet internet site, which involves betting education and learning articles, simulations, examination, and fantasy sports activities insight.

Enthusiasm for Athletics Betting/Media Offers

SportsMap Tech Acquisition, like any other SPAC, has two a long time to execute a transaction or hazard liquidation. Should really the blank-test organization decide for a media deal, it could be achieved with enthusiasm by traders.

Previously this year, Macquarie Analysis forecast additional than $30 billion value of iGaming and sports activities wagering income by 2030 attributable to accords with media firms. The exploration company estimates a compound once-a-year advancement amount (CAGR) of 33 % about the coming a long time for on-line casino and sportsbook operators by way of agreements with media providers.

Gaming businesses are responding accordingly. For illustration, DraftKings obtained Vegas Sporting activities Data Network (VSiN) and signed a $50 million deal with Meadowlark Media, the proprietor of Dan Le Batard’s community of shows. Previously this week, Penn Countrywide Gaming finished its $2 billion money and fairness acquire of Rating Media and Gaming.