May 11, 2022

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Tennis star Naomi Osaka and agent Stuart Duguid announced [[link removed]] they have left agency IMG to start their own agency, called EVOLVE. She becomes the first female athlete to make such a move.

Alphabet May Write Bid for Indian Premier League

IPL

What was already a clash of media titans for the broadcast rights to one of the world’s most popular sports leagues may see another giant enter the fray.

Alphabet is reportedly considering [[link removed]] a bid for rights to the Indian Premier League, per Bloomberg.

The Google parent reportedly purchased documents needed to explore a bid from the Board of Control for Cricket in India. Google owns streaming and video platform YouTube.

The IPL saw 600 million people tune in last year, according to the BCCI, placing it third in global reach among sports leagues behind the NFL and English Premier League.

Rights from 2023 to 2027 could top [[link removed]] $7 billion. The league will hold an online auction for linear and streaming rights [[link removed]], sold separately, on June 12.

Other interested parties include:

Disney, which currently holds the rights through its subsidiary Star India on a $2.5 billion deal, from 2018-2022AmazonReliance IndustriesSony and Zee Entertainment – Sony purchased a 53% stake in Zee last yearFantasy sports platform Dream11South Africa-based television network SuperSport, which also reportedly purchased documents From India to Irvine

While cricket has largely been an afterthought in the U.S., there are signs it is gaining a foothold.

Major League Cricket, a U.S.-based league, will launch in 2023. Plans are underway [[link removed]] to build a 10,000-capacity cricket-dedicated stadium in Irvine, California, led by a $30 million investment from the Knight Riders Group.

MLC could build or renovate up to eight U.S. facilities in the coming years.

Sports Betting Revenue Hit Record-Setting $4.3B in 2021

Sarah Kloepping-USA TODAY NETWORK

Sports betting brought in $4.3 billion in 2021 revenue, notching its best year by a wide margin.

The figure was a 179.7% increase from 2020 for the fledgling industry, which saw seven states open up sports betting markets last year, according [[link removed]] to the American Gaming Association’s State of the States report. Tribal casino revenue wasn’t included in the tabulation.

New Jersey led the way with $816 million in revenue.Pennsylvania, Illinois, and Nevada followed, with the top four states accounting for around half the country’s sports betting revenue.Overall gaming revenue, which includes casino and iGaming proceeds, hit a record $52 billion – up 21.5% from the previous high in 2019. Bet on Another Record Year

New York opened to mobile sports betting in January, bringing another huge market into the industry. The Empire State took in $320.9 million on $4.87 billion in wagers in the first quarter.

Sports betting revenue across the country rose 64.6% year-over-year in Q1, hitting $1.58 billion. Total gaming revenue grew 28.6% from the previous year to $14.31 billion.

The country’s three most populous states still do not allow sports betting, but California will have [[link removed]] at least one measure on its ballot this November to legalize the practice. Florida may follow suit after a court blocked an attempt at legalization through a pact with the Seminole Tribe of Florida.

Texas is unlikely to consider new sports betting legislation until next year.

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Roblox Reports Drop in Bookings As Growth Slows

Roblox

On Tuesday, Roblox reported less-than-expected earnings for the first quarter as bookings — which include revenue, deferred revenue, and other adjustments — decreased 3% to $631.2 million.

The video game developer’s stock consequently dropped [[link removed]] about 10%.

Overall revenue has increased by 39% since the first quarter in 2021, for a total of $537.1 million.Average active users grew 28% compared with 2021.

In a statement, CEO David Baszucki said the company is “focused on delivering our innovation roadmap” and noted new products that the company has been working on in recent months, including Spatial Voice. According [[link removed]-] to Roblox, the feature “allows people to communicate in Roblox as naturally as they communicate in the physical world.”

A Similar Story

The tepid reaction to earnings is in fact a similar story to that of Roblox’s fourth quarter.

The company has developed [[link removed]] a reputation as a trailblazer in the $800 billion metaverse space, which contributed to its rise in popularity.

In Q4, the company showed major growth — revenue jumped [[link removed]] 83% year-over-year to $568.8 million — but still missed expectations, dropping the stock price.

Conversation Starters In The Leadoff, Electronic Arts and FIFA officially part ways, the asking price for the Denver Broncos is likely to top $5 billion, the W Series eyes global growth, and Planet Fitness reports overall revenue jumped 67% in Q1 2022. Click here to listen. [[link removed]] Kicker Josh Lambo has filed a lawsuit [[link removed]] against the Jacksonville Jaguars seeking his $3.5 million salary for the 2021 season plus damages for emotional distress, per the Tampa Bay Times. Currently a free agent, Lambo claims his performance suffered after being kicked and verbally abused by former head coach Urban Meyer. Nike is suing [[link removed]] resale platform StockX on the claim that it is selling counterfeit shoes. The Swoosh’s lawsuit claims it purchased four fake pairs over two months, all of which were labeled as “authentic.” Los Angeles Angels rookie Reid Detmers threw [[link removed]] the first solo no-hitter of the 2022 season. Detmers is making $710,000 on a league-minimum contract, but received a $4.67 million signing bonus after being drafted 10th overall in 2020. Subscribe to Scoreboard for more [[link removed]].

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What do you know about female college sports fans? How do they show up as fans? Where do they engage? How can you reach them?

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Watch now [[link removed]] to find out how the face of fandom is changing.

Market Movers

Major indices dipped on Wednesday. Here’s a look at the biggest movers among sports-related stocks.

ELY [[link removed]]

Callaway Golf Co.

[[link removed]]

$19.72

[[link removed]]

+0.46%

[[link removed]] ATVI [[link removed]]

Activision Blizzard Inc

[[link removed]]

$77.37

[[link removed]]

+0.86%

[[link removed]] EA [[link removed]]

Electronic Arts, Inc.

[[link removed]]

$120.35

[[link removed]]

+6.34%

[[link removed]] NKE [[link removed]]

Nike, Inc.

[[link removed]]

$107.77

[[link removed]]

-0.76%

[[link removed]] MGM [[link removed]]

MGM Resorts International

[[link removed]]

$34.92

[[link removed]]

-2.16%

[[link removed]] (Note: All as of market close on 5/11/22) What to Watch

On Saturday, Chelsea faces Liverpool at Wembley Stadium for the men’s English FA Cup Final.

Chelsea enters the match following a 2-0 semifinal win over Crystal Palace, while Liverpool is coming off a 3-2 semifinal win over Manchester City.

How to Watch: 11:45 a.m. ET on ESPN+ / Stream the men’s English FA Cup Final on ESPN+ [[link removed]]*

*Sponsored content. Game availability differs by market, check your local listing.

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Written by Owen Poindexter [[link removed]], Amanda Christovich [[link removed]]

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