Gannett Co. has announced an exclusive agreement with Tipico USA Technology, Inc., utilizing their Tipico Sportsbook brand.
This strategic alliance leverages the power and breadth of the USA TODAY NETWORK consisting of more than 250 daily local sites including The Indy Star and Detroit Free Press, and its USA TODAY Sports Media Group, including in-depth USA TODAY Sports coverage across the country with over 200 additional sports sites in the portfolio, such as For The Win, Golfweek, and MMA Junkie.
“Our highly engaged audience of more than 46 million sports fans crave analysis, betting insights, odds and unique features which we will provide with our Tipico alliance,” said Michael Reed, Gannett Chairman and Chief Executive Officer. “Tipico adds incredible expertise from their European operations and next generation product capabilities, which offer our sports enthusiasts and local consumers a way to become even more invested in the games and sports they care about.”
Transaction Highlights:
“Our highly engaged audience of more than 46 million sports fans crave analysis, betting insights, odds and unique features which we will provide with our Tipico alliance,” said Michael Reed, Gannett Chairman and Chief Executive Officer. “Tipico adds incredible expertise from their European operations and next generation product capabilities, which offer our sports enthusiasts and local consumers a way to become even more invested in the games and sports they care about.”
Transaction Highlights:
- Tipico to become the exclusive sports betting and iGaming provider for Gannett, with integration of odds, props, free to play games and betting trends across the USA TODAY NETWORK.
- Tipico will pay a referral fee to Gannett for signing up first-time bettors; it will also spend $90 million on advertising and sponsored content that includes columns, blog posts, events and videos. Gannett will receive a 1% equity interest in Tipico USA Technology and an option to expand its ownership to 4.99% in the next five years.
- Subject to certain conditions being met over the five-year term of the agreement, Gannett will have the right to acquire up to 4,990 common shares in Tipico’s US business, representing a minority interest. The exercise of such right will be subject to applicable laws including applicable gaming regulations.
- Gannett will provide Tipico exclusive access to premium marketing assets at a pre-negotiated value based upon the expected aggregate sum of the cash consideration, performance incentives, and right to acquire common shares.
- These assets will focus on integrating year-round custom content across the USA TODAY NETWORK, including video series, columns, blog posts, newsletters, contests, social media and events, beginning with the 2021 NFL season.
For residents in Colorado and New Jersey, where Tipico operations will be live this fall, readers will experience a seamless integration to Tipico’s Sportsbook. Visitors to any other USA TODAY Sports Media Group sites will find a listing of sports betting odds and sports betting content, as well as iGaming, free to play games and sweepstakes. In addition, readers of USA TODAY and many local print newspapers within the USA TODAY NETWORK will find Tipico betting odds within the Sports section.
No comments:
Post a Comment