February 7, 2023

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Manchester City could be in very hot water with the Premier League — and we’ve got the latest in Front Office Sports Today. Plus, reporter Amanda Christovich stops by to discuss what happens when a company goes all-in on a Super Bowl ad — and flops. Listen on Apple [[link removed]] or Spotify [[link removed]].

Sports Betting Over 50M Americans Projected to Bet $16B on Super Bowl [[link removed]]

Diannie Chavez / USA TODAY NETWORK

Super Bowl LVII will be the first NFL championship contested in a legal betting state — and with a sportsbook [[link removed]] just outside State Farm Stadium.

Sunday’s contest between the Kansas City Chiefs and Philadelphia Eagles will draw an enormous amount of money in wagers.

Per an American Gaming Association survey, a record 50.4 million Americans (20%) plan to bet an estimated $16 billion total on the Big Game — a 61% and 110% increase from 2022, respectively. The AGA found that 30 million Americans plan to place a traditional wager online, at a retail sportsbook, or with a bookie, while 28 million plan to bet casually with friends or part of a pool or squares contest. For the first time, traditional bets are expected to surpass casual ones.

The growing availability of legal sports betting in states like Maryland, Ohio, and New York is encouraging casual bettors to take the plunge into the sportsbook world.

“I think that the Super Bowl is great training wheels for sports bettors,” Action Network CEO Patrick Keane told Front Office Sports.

Offers Galore

With so many novices trying their hand during what Keane calls the “betting holiday of the year,” sportsbooks are doing everything they can do to draw in new customers, pulling out wild profit boosts or free bets.

“This is really a big opportunity for the books to acquire users,” says Keane.

As for the game itself, bettors seem evenly split: Of those polled by AGA, 44% each are planning to wager on the Chiefs and Eagles.

Deals A-Rod Scrambling for Timberwolves Cash? Suns Sale Official [[link removed]]

Mark J. Rebilas-USA TODAY Sports

The Phoenix Suns are officially changing hands, but the sale of the Minnesota Timberwolves may be in limbo.

The NBA board of governors approved [[link removed]] Mat Ishbia’s purchase of the Suns. Ishbia agreed to purchase the team in December, following allegations of racism and misogyny against previous owner Robert Sarver.

Ishbia is paying $2.28 billion for a 57% controlling stake in the team. The league’s owners voted 29-0 to approve the sale, with the Cleveland Cavaliers abstaining. Cavaliers owner Dan Gilbert has a rivalry with Ishbia stemming from their statuses as the owners of the two largest mortgage lenders in the U.S., Rocket Mortgage and United Wholesale Mortgage, respectively.

Suns CEO Jason Rowley, who was named in a damning report commissioned by the NBA outlining the culture under Sarver, has reportedly resigned.

Timberwolves Sale in Hibernation

Meanwhile, Alex Rodriguez and Marc Lore were granted permission to delay [[link removed]] a payment of $200 million to March 28, according to the Twin Cities Pioneer Press. The payment, originally due Dec. 31, will give the pair a 40% stake in the team. The two purchased a 20% stake in July 2021.

They will take a controlling stake on completion of a $400 million payment scheduled for later this year. The NBA board of governors has not yet approved the full sale.

Rodriguez was struggling to raise funds as of August, according [[link removed]] to the New York Post, which claimed that he owned 7% of the team to Lore’s 13%.

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Markets Activision Blizzard Sets Records, Nintendo Flops [[link removed]]

Shutterstock

Activision Blizzard can boast some company bests in its fourth-quarter report.

The video game giant recorded $2.33 billion in fourth-quarter revenue, up from the $2.16 billion it generated during the same period last year — and reported [[link removed]] record quarterly net bookings of $3.57 billion, a 43% year-over-year increase from $2.49 billion.

Activision’s “Call of Duty: Modern Warfare II” had the highest opening-quarter sell-through in franchise history. In the 10 days following its release, the game generated [[link removed]] $1 billion in sales. Blizzard saw its highest quarterly net bookings ever, primarily attributed to growth for “Warcraft,” “Overwatch,” and “Diablo” — each delivered more than $100 million in net bookings. King’s “Candy Crush” was the top-grossing game franchise in U.S. app stores for the 22nd consecutive quarter.

Activision’s segment revenue and operating income increased around 60% year-over-year, while Blizzard’s increased roughly 90% year-over-year. Monthly active users for the company increased from 368 million to 389 million.

Activision Blizzard is set to be acquired by Microsoft for $69 billion, but the deal has faced scrutiny from regulators including a lawsuit [[link removed]] from the Federal Trade Commission.

Sales Switch

Not all gaming companies had a good quarter.

Nintendo reported on Tuesday it sold [[link removed]] around 8.23 million Switch consoles in its third quarter — a roughly 22% drop. It now expects to sell 18 million consoles in the fiscal year ending March 2023, compared to 19 million.

It also cut its net profit outlook to around $2.8 billion, a drop from its previous outlook of roughly $3 billion.

Conversation Starters Sunday’s Pro Bowl Games broadcast by ABC and ESPN reportedly attracted [[link removed]] 6.2 million viewers for a 3.35 rating. Chiefs offensive coordinator Eric Bieniemy hasn’t been able to land a head coaching gig but is excited to be in his third [[link removed]] Super Bowl in four seasons. U.S. Labor Secretary Marty Walsh is reportedly in line [[link removed]] to become the NHL Players’ Association’s next executive director.

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Redefining What it Means to Win

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In the first of three episodes, Wie West talks with fellow Stanford graduate Chiney Ogwumike, a two-time WNBA All-Star, ESPN analyst, and investor.

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What to Watch

LeBron James is just 36 points from breaking the NBA’s all-time scoring record when the Oklahoma City Thunder (25-28) take on the Los Angeles Lakers (25-29) on Tuesday at Crypto.com Arena.

How to Watch: 10 p.m. ET on TNT

Betting Odds: Lakers -6.5 || ML -250 || O/U 239.5

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We have teamed up with the Pac-12 Conference to provide a VIP experience [[link removed]] to the Pac-12 Men’s Basketball Tournament in Las Vegas from March 8 to March 11, 2023.

One lucky winner will receive two (2) all tournament passes with club access to the tournament at T-Mobile Arena. The winner will also receive a hotel room at an MGM Resorts property for four (4) nights in Las Vegas, a $300 food and beverage voucher valid at MGM restaurants, and two (2) tickets to Cirque du Soleil’s Mad Apple show. For more information on the Pac-12 Men’s Basketball Tournament, visit Pac-12.com [[link removed]]. See Official Rules [[link removed]] for details.

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