Super Bowl gambling bonanza is a DraftKings bust 11 Feb 2022 The number of people who bet online on America’s football mega-match is set to surge. That ought to mean a jackpot for the wager app. But its losses are growing due to promotions that the $18 bln company is using to attract users. Justifying such costs requires defying the odds.
Capital Calls: Crypto hangs up Super Bowl placard 11 Feb 2022 Concise views on global finance: Cryptocurrency firms have lined up for ads on the U.S. football championship, much like dotcoms did in 2000. They are paying up to $7 mln per spot, or twice as much, adjusted for inflation.
Amazon could get Peloton at garage-sale price 7 Feb 2022 The workout firm’s shares surged after suggestions the $1.6 trln e-commerce giant may buy it. Peloton isn’t an obvious fit, but the ability to sell subscriptions to even a sliver of Amazon’s user base is valuable. With the right regime, Peloton’s value could conceivably double.
China flexes to bring home Olympic tech gold 26 Jan 2022 Hosts like South Korea and Japan used the games to showcase cutting-edge advances like 5G and robots. February's event will deploy apps, automation and more to manage Covid-19 outbreaks. Beijing is also keen to prove its growing prowess in digital currencies and hydrogen energy.
Capital Calls: KKR’s e-bike push 24 Jan 2022 Concise views on global finance: The buyout firm leads a 1.6-billion-euro takeover of Dutch bikemaker Accell.
Capital Calls: Siemens Gamesa, Psych SPAC 21 Jan 2022 Concise views on global finance: The 11 billion euro wind turbine manufacturer serves up its third profit warning in nine months; Hope for drugs to treat depression is tempered after rivals suffer mishaps.
Fanatics takes Topps at rock bottom 4 Jan 2022 The flashy new winner in U.S. collectibles is buying its old-school rival’s unit. It comes months after Fanatics effectively busted Topps’ deal to merge with a SPAC by grabbing the official American baseball-card business from 2026. Now Fanatics is sweeping up its victim, too.
Viewsroom: Some of our 2022 predictions, Part One 23 Dec 2021 Look for an end to the cult of revenue and another milestone for Microsoft. As net-zero efforts falter, investors ready a Plan B. Riyadh becomes strangely appealing. The World Cup pays dividends for the Gulf. And chips become Taiwan’s green calling card. Our columnists explain.
Qatar’s World Cup will pay Gulf-wide dividends 22 Dec 2021 After an awful lead-in, expectations for soccer’s showcase event in 2022 are low. Even so, the tiny emirate’s status will likely benefit. Provided Covid-19 is under control, the jamboree should also boost a regional economic recovery that has lagged other parts of the globe.
Capital Calls: 3M is a banker’s idea of no fun 15 Dec 2021 Concise views on global finance: The industrial giant has paid investment bankers 95% less in fees than General Electric. The company may have a hard time getting Wall Street’s best advice, even though deals might not help it.
Women’s Tennis models real China ESG 2 Dec 2021 The association is halting lucrative tournaments in the country after local star Peng Shuai went missing following sexual assault claims. Western companies generally exempt China from espoused social values. The weak track record makes it hard to see many following the WTA lead.
Japanese golf buyout plays like a long par-4 22 Nov 2021 SoftBank-backed Fortress is paying $3.5 bln for Accordia’s collection of courses. The sport’s Covid-19 resurgence probably isn’t sustainable, so a valuation of over 10 times EBITDA adds some hazards. A few solid strategic shots, however, could make the investment green reachable.
Capital Calls: Canada Goose’s extra insulation 5 Nov 2021 Concise views on global finance: Shares in the winter-jacket firm flew up over 16% after the company reported a 40% rise in sales, but the company’s valuation still has some extra padding.
Sports pros play risky offense-only investing game 26 Oct 2021 Athletes like hoops star Kevin Durant and managers such as Billy “Moneyball” Beane are backing deals in the live entertainment and ticketing arena. Ebullience around resurging fan bases is validating crazy valuations. But in money as in sport, fundamentals will prevail over hope.
CVC bets Indian cricket will set richer boundaries 26 Oct 2021 The buyout fund beat a billionaire banker and tycoon for one of two new Indian Premier League franchises, which sold for a combined $1.7 bln. Its bid stacks up providing hype about the upcoming auction of media rights, held by Disney, is realised. A longer season will help too.
Capital Calls: Fantasy-sports group M&A flop 26 Oct 2021 Concise views on global finance: DraftKings has walked away from Entain but the UK target may still attract interest.
Newcastle bid suits Saudi more than UK soccer 7 Oct 2021 A consortium led by the kingdom’s Public Investment Fund may buy the northeastern club for 305 mln pounds. Saudi Arabia gets a storied team for a low price, and cheap PR. Yet having another deep-pocketed sovereign backer will further distort competition in British soccer.
Capital Calls: Facebook, TeamViewer, Audio M&A 6 Oct 2021 Concise views on global finance: Whistleblower Frances Haugen’s polished rollout is a warning for Big Tech; the video software specialist’s 25% share price fall shows the perils of growth stocks; hearing aid group GN snaps up headset maker SteelSeries for $1.3 bln.
NordicTrack owner sets up underdog IPO 29 Sep 2021 Fitness firm iFit isn’t as exciting as rival bike maker Peloton, and it doesn’t have as many subscribers. But sales are growing about as fast, margins are better and it sells bikes to gyms, an advantage as basements become a bore. Plus at $6.7 bln, it’s cheap compared to Peloton.
Time for sports data’s also-ran to Be Like Mike 21 Sep 2021 The $7.6 bln Sportradar’s shares are below last week’s IPO price, and its valuation multiple lags rival Genius Sports. On the plus side, famously competitive basketball icon Michael Jordan now advises the board. Maybe he can help it see that the businesses aren’t that different.