20Shots raises additional funding
The UK-based gaming software supplier has picked up additional funding, including from US investors.
UK.- 20Shots, which provides B2B gaming software including the free-to-play fantasy football game Fantasy5, has picked up £400,000 in new funding. The new funds, which include an investment from US venture capital fund Animal Capital, give the business a £5m valuation.
The company said it would use the new funds to roll out a larger range of products, with games for the Uefa Champions League, Europa League and major European national leagues to compliment its existing English Premier League Fantasy5 product.
Prizes for the new leagues will remain at £10,000 as with the existing game. Last season, the Irish bookmaker BoyleSports became Fantasy5’s first licensed operator partner.
20Shots co-founder and chief executive Jacob Kalms said: “As demand grows in the ultra-competitive free-to-play space, we’re investing our ability to quickly and seamlessly roll out products and games on a white label basis for a number of different partners across multiple divisions and competitions – with the ultimate objective of using the technology seamlessly across the most popular sports worldwide.
“Our growth model forecasts we will break the half a million player mark this season, with our scaling driving down the cost of acquisition for partners while maintaining our engagement, dwell and retention rates considerably above industry averages.”
Animal Capital managing partner Marshall Sandman said: “In a crowded market of fantasy, free-to-play, and pay-to-play sports betting, 20Shots distinguishes itself with a best-in-class team and direction that has allowed the product to stand out distinctly and early.
“Their flagship game Fantasy5 is an early hit, their B2B relationships are uniquely positioned to make this an exciting asset and their ability to resonate and be sticky with a younger audience are all reasons why we were excited to be on the journey.”
See also: Bet-at-home decides to permanently exit British gambling market
Entain CEE to seek Central and Eastern European acquisitions
The online gaming giant Entain has launched a new venture, Entain CEE, dedicated to Central and Eastern Europe. It’s begun with the acquisition of a 75 per cent stake in Croatian market leader SuperSport from EMMA Capital. The Czech investment firm will become a partner in Entain CEE.
Entain will pay around €600m cash for the stake in SuperSport, plus a further payment depending on performance but estimated at €90m. SuperSport holds around 54 per cent of the Croatian market. Current CEO Radim Haluza will continue to lead the company after the deal closes in Q4.
