Sports IQ, a software company providing online sports betting solutions, has embarked on a new horizon with a joint venture with DraftKings. This partnership came to the forefront through the LinkedIn account of Omer Dor, the CEO of Sports 1Q. The exact conditions of the deal have yet to be revealed, and DraftKings has yet to make an official statement about the acquisition. Being well known for its assistance of over 12000 events per year and providing opportunities for many in-play markets, Sports IQ is appreciated for its advanced technology solutions in the sports betting arena.
The founder of Sports IQ, Omer Dor, announced his support and belief that both companies radiate with the same passion and ambition. He even paused to contemplate successfully working with Sports IQ for six years, acknowledging the efforts and intelligence of his team. This merger has great potential to use the strengths of both organizations to achieve even greater success in the world of sports betting.
Sports IQ’s leadership circle consists of prominent people such as Matthew Belzberg, who, after being the Chief Technology Officer at Don Best Sports, is now the Chief Information Officer at Sports IQ. He also brings his vast experience in research and development from his time at Don Best Sports, which he co-founded. Furthermore, Andrew Schwartz, co-founder of the company, continued to play the role of chairman after the company was built.
Sports IQ’s management team has people like Matthew Belzberg, the previous CTO of Don Best Sports, who currently serves as the CIO of Sports IQ. Jose Alfaro, the co-founder, also has research and development experience at Don Best Sports. Further, Andrew Schwartz will continue to hold the company’s chairman position after its launch.
The latest acquisition news from DraftKings goes hand in hand with the company’s first-quarter earnings report, which showed a staggering 52.7% increase in revenue, reaching a whopping $1.18 billion. Besides this positive financial performance, the last quarter also saw a decrease in the net loss and a positive change in adjusted EBITDA. These hopeful advancements have encouraged DraftKings to revise its full-year revenues and amend its EBITDA. Additionally, the company has broadened its range of services by buying Jackpocket, a well-known lottery app projected to add another $340 million to its annual earnings.