Boom Entertainment raises $15m to expand into sports and iGaming21st September 2021 12:38 pm GMT
New York-based sports gaming app developer Boom Entertainment has raised $15m in funding to enable the supplier to expand into the real-money sports betting and iGaming sectors.
The Series A funding was led by Sands Capital, alongside a whole host of investors including New York-listed operators Golden Nugget Online Gaming and Rush Street Interactive, which recently acquired a minority stake in Boom.
Others notable investors included Defy Partners, Velo Capital, England Patriots owner Robert Kraft, former MGM Resorts International CEO Jim Murren, former IGT CEO Patti Hart and Better Collective CEO Jesper Sogaard, among others.
“Sports fans and casino players are craving something more - new products and new games that will transform how they consume sports and how they are entertained,” said Boom Entertainment co-founder and CEO Stephen Murphy. “With this capital infusion, we will redefine what real-money gaming looks like by introducing new ways to bet on sports and new experiences for players.”
Boom’s current product portfolio includes the white-labeled NBC Sports Predictor, Tim Hortons NHL Hockey Challenge, PlayBarstool, NASCAR Jackpot Races, MSGN Pick'em, YES Pick N' Play, and Chirp Golf games, which have been played by nearly 3m users.
“Boom is in an enviable position as the premier provider of technology and games in an industry that is both rapidly expanding and increasingly in need of product differentiation,” said Sands Capital partner Scott Frederick. “Boom offers the entire continuum, from mass-casual free-to-play gaming products to fantasy sports to online casino and sports betting games. They are the go-to partner for any company looking to maximize their opportunity in this category.”
Boom will unveil its first wave of casino games to select partners in the coming months, followed by the launch its proprietary sports betting games and product offerings.