Pennsylvania-based SeventySix Capital is investing in sports betting media firm, Vegas Stats and Information Network (VSiN). The total amount invested is unknown, but there are reports that the amount is close to $1 million.
Investing in VSiN supports one of SeventySix Capital’s key investment areas: Sports and eSports.
Partners of the firm, former Philadelphia Phillies player, Ryan Howard, Wayne Kimmel, and Jon Powell championed the deal. It emphasizes the need for trustworthy sports betting content and the distribution of that content across multiple platforms.
In a press release earlier this week, Howard said:
“If someone is going to place a sports bet, credible information is crucial. My partners and I at SeventySix Capital are investing in the elements within the sports betting industry that consumers need, including data collection, analytics and, now, media.”
SeventySix wants to build a media network
SeventySix Capital prides itself on investing in “passionate, smart and nice entrepreneurs” with a desire to make a lasting impact. In addition to the sports and esports industry, the firm’s $10 million portfolio supports the future of retail and health and wellness.
Current companies in SeventySix’s sports and esports portfolio include:
- Swish Analytics
- Shot Tracker
- Play By Play Sports Broadcasting Camps
- N3rd Street Gamers
Now that sports betting is legal in the US, the anticipated growth of the market is in the billions. SeventySix and its investment will position VSiN to assert itself as a leader in the space.
The Nevada firm, founded by sports broadcasting legend Brent Musburger and his nephew Brian offers 24×7 hours of daily programming. Its studios are near the sportsbook in the midst of the action at South Point Hotel Casino.
“The sports betting industry is projected to be over $250 billion by 2020, and we believe that VSiN is positioned to capture a significant share of the media and analytics segment of this new market,” said Kimmel, “We’re excited to partner with the VSiN team to build the media network for the sports betting industry.”
VSiN dedicates itself to becoming a reliable, one-stop shop for all legal sports betting news, analysis, and data. Its desire to help sports bettors make well-informed wagers supports SeventySix’s desire of merging the physical and digital worlds to empower people.
VSiN dedicated to sports betting programming
As legal sports betting begins to spread across the nation, programming focused on the sports betting market will be in high demand. VSiN is positioned to capitalize on the need.
Brian Musburger, VSiN’s Chairman spoke about the partnership with SeventySix Capital.
“This investment comes at an exciting time, as the legalization of sports gambling across the country is driving an evolution within the sports media space. This will change the way people watch sports. We couldn’t be more thrilled that Wayne, Ryan and the SeventySix Capital team are taking this ride with us. The team’s knowledge and expertise within sports and technology make them an essential partner. We’re looking forward to leveraging their expertise and relationships to capitalize on the huge and rapidly growing opportunity within the sports betting space.”
The availability of reliable and accurate sports data is a leading concern with the major sports leagues and the NCAA. The concern is supposedly behind the leagues seeking an “integrity” fee from states working to enact sports betting legislation.
Musburger believes the leagues are being hypocritical. In a recent interview on Real Sports on HBO, Musburger said:
“If you want to sit in your ivory tower and pontificate about the integrity of your beloved game, why would you put one of your franchises within walking distance of several sportsbooks? Answer me that question, Mr. Goddell.”
VSiN’s programming is available on SiriusXM and via video stream from its website.
SeventySix’s investment in VSiN is timely. Brent Musberger has recently been named the Oakland Raiders play by play voice. He is also in talks with Fox Sports for a sports betting show that will mark the company’s entry into the mainstream media.