{"id":185022,"date":"2021-09-07T08:59:41","date_gmt":"2021-09-07T15:59:41","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=185022"},"modified":"2021-09-07T14:11:44","modified_gmt":"2021-09-07T21:11:44","slug":"sportradar-ipo-terms-update-market-cap-could-be-over-8-billion","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/","title":{"rendered":"Sportsradar IPO Could Value Company at up to $8.3B, Double Nearest Competitor"},"content":{"rendered":"

In an amended Form F-1 filing with the Securities and Exchange Commission (SEC), Sportradar updated its initial public offering (IPO) plans. It now indicates it plans to raise $504 million by selling 19 million shares at a range of $25 to $28, potentially valuing the company at up to $8.3 billion.<\/p>\n

\"Sportradar
The highly anticipated Sportradar IPO is getting closer. The company could raise more than $8 billion in the offering. Company execs seen at a public event, above. (Image: TheStreet.com<\/em>)<\/figcaption><\/figure>\n

The amount that could be raised and the number of shares to be sold could be fluid, because the sports betting data provider is planning to raise $159 million in a private placement to some early investors, and because underwriters have the option to purchase another 2.85 million shares.<\/p>\n

The shares floated in the IPO and private placement represent just 2.3 percent of the basic shares outstanding. At the midpoint of the proposed range, Sportradar Group would command a market value of $29.4 billion,\u201d said Renaissance Capital, an IPO research firm.<\/p><\/blockquote>\n

The Switzerland-based company plans to list on the Nasdaq Global Select Market using the symbol \u201cSRAD.\u201d J.P. Morgan, Morgan Stanley, Citigroup, and UBS Investment Bank are acting as lead book-running managers for the offering, while BofA Securities, Deutsche Bank Securities, Jefferies, and Canaccord Genuity will serve as additional joint book-running managers. The offering is slated to price next week.<\/p>\n

Stunning Market Cap Forecast for Sportradar<\/h2>\n

The potential Sportradar market capitalization mentioned by Renaissance Capital is well above prior estimates.<\/p>\n

Rumors regarding a Sportradar IPO surfaced over a year ago<\/a>, with speculation swirling that the company could seek a valuation of $10 billion to $12 billion. In fact, some market observers believe it was those numbers that led the betting data provider and special purpose acquisition company (SPAC) Horizon Acquisition Corp. II (NYSE: HZON) to end talks for a transaction<\/a> that would have paved the way for Sportradar to go public.<\/p>\n

\n

Assuming the figures floated by Renaissance are anywhere close to being accurate, Sportradar’s market value could be more than seven times in excess of that of Genius Sports (NYSE:GENI) — the Swiss company’s nearest rival. London-based Genius currently sports<\/a> a market cap of $4.04 billion. Still, the $8.3 billion is more than double Genius’s market value.<\/p>\n<\/div>\n

Given various total addressable market (TAM) and compound annual growth rate (CAGR) forecasts, the Sportradar valuation mentioned by Renaissance may not be too far-fetched.<\/p>\n

\u201cWe are well-positioned at the intersection of the global sports betting and gaming industry and the global sports market. Global gaming represents a TAM opportunity of roughly $209 billion in 2021, growing to $272 billion in 2025 at a seven percent CAGR, according to the H2 report,\u201d said Sportradar in the F-1 filing. \u201cThe global sports market is estimated at $172 billion in 2021 and growing at four percent CAGR through 2025 to $203 billion, according to the BCG Reports. Within this market, media rights and gate revenues represent $102 billion in 2021 growing to $121 billion in 2025 at a 4 percent CAGR.\u201d<\/p>\n

Sportradar IPO Enthusiasm Could Be Strong<\/h2>\n

Founded in 2001, Sportradar notched revenue of $576 million for the 12 months ending June 30, 2021.<\/p>\n

The IPO could be well-timed because football season is here, and leagues are seeing value<\/a> in data partnerships and investors are renewing their affinity for sports wagering equities.<\/strong><\/p>\n

\u201cIn the US market, the company is the #1 provider of data to bookmakers, supplying sports data to over 85 percent of all bookmakers in the US,\u201d adds Renaissance. \u201cFor its 150+ sports league partners, Sportradar provides access to over 900 sports betting operators and over 350 media companies to distribute their data and content globally.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

In an amended Form F-1 filing with the Securities and Exchange Commission (SEC), Sportradar updated its initial public offering (IPO) plans. It now indicates it plans to raise $504 million by selling 19 million shares at a range of $25 to $28, potentially valuing the company at up to $8.3 billion. The amount that could […]<\/p>\n","protected":false},"author":46,"featured_media":185023,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,16693],"tags":[],"acf":[],"yoast_head":"\nSportradar IPO Terms Update, Market Cap Could Be Over $8 Billion<\/title>\n<meta name=\"description\" content=\"Sportradar could raise more than $500 million in its IPO, potentially resulting in a market cap of more than $8 billion.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sportradar IPO Terms Update, Market Cap Could Be Over $8 Billion\" \/>\n<meta property=\"og:description\" content=\"Sportradar could raise more than $500 million in its IPO, potentially resulting in a market cap of more than $8 billion.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-07T15:59:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-07T21:11:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/sportradar.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/\",\"url\":\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/\",\"name\":\"Sportradar IPO Terms Update, Market Cap Could Be Over $8 Billion\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/sportradar.jpg\",\"datePublished\":\"2021-09-07T15:59:41+00:00\",\"dateModified\":\"2021-09-07T21:11:44+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Sportradar could raise more than $500 million in its IPO, potentially resulting in a market cap of more than $8 billion.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/sportradar.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/sportradar.jpg\",\"width\":1200,\"height\":675,\"caption\":\"The highly anticipated Sportradar IPO is getting closer. The company could raise more than $8 billion in the offering. (Image: TheStreet.com)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Sportsradar IPO Could Value Company at up to $8.3B, Double Nearest Competitor\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Sportradar IPO Terms Update, Market Cap Could Be Over $8 Billion","description":"Sportradar could raise more than $500 million in its IPO, potentially resulting in a market cap of more than $8 billion.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/","og_locale":"en_US","og_type":"article","og_title":"Sportradar IPO Terms Update, Market Cap Could Be Over $8 Billion","og_description":"Sportradar could raise more than $500 million in its IPO, potentially resulting in a market cap of more than $8 billion.","og_url":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2021-09-07T15:59:41+00:00","article_modified_time":"2021-09-07T21:11:44+00:00","og_image":[{"width":1200,"height":675,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/sportradar.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/","url":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/","name":"Sportradar IPO Terms Update, Market Cap Could Be Over $8 Billion","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/sportradar.jpg","datePublished":"2021-09-07T15:59:41+00:00","dateModified":"2021-09-07T21:11:44+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Sportradar could raise more than $500 million in its IPO, potentially resulting in a market cap of more than $8 billion.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/sportradar.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/09\/sportradar.jpg","width":1200,"height":675,"caption":"The highly anticipated Sportradar IPO is getting closer. The company could raise more than $8 billion in the offering. (Image: TheStreet.com)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/sportradar-ipo-terms-update-market-cap-could-be-over-8-billion\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Sportsradar IPO Could Value Company at up to $8.3B, Double Nearest Competitor"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/185022"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=185022"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/185022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/185023"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=185022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=185022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=185022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}