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The Ringer Launching WWE Audio Network

“The Ringer has also agreed to expand its wrestling content.”

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The Ringer and its parent company Spotify have reached a deal to become the exclusive home of WWE podcasts. The companies have agreed to a multi-year audio content partnership, which will include the launch of new, original shows.

“Bill and his team at The Ringer consistently find ways to create premium content that drives conversation and appeals to fans of sports, entertainment and pop culture,” Nick Kahn, WWE President & Chief Revenue Officer, said in a press release. “We believe this collaboration will deliver a podcast slate that excites existing fans while also introducing WWE content to the millions of Spotify listeners.”

The Ringer has also agreed to expand its wrestling content. The Masked Man Show with David Shoemaker and Kazeem Famuyide will be rebranded as The Ringer Wrestling Show. In addition to the podcast, the duo will host conversation’s on Spotify’s live audio platform Greenroom during WWE pay-per-view events. Starting tomorrow, Shoemaker and Famuyide will host two special Greenroom events to promote WWE’s Summerslam.

Speaking of Summerslam, The Ringer will be in Las Vegas for the event. The company will have a co-branded space alongside the WWE inside of the MGM Grand. Shoemaker and Famuyide will record a live episode of The Masked Man Show and Evan Mack will make his Spotify debut by participating in a Greenroom session.

“The Ringer is the premier destination for sports fandom, and WWE has used amazing storytelling and iconic characters to establish a global audience of loyal and passionate fans, making this partnership a perfect match,” Ringer founder Bill Simmons added. “As a lifelong WWE fan, I couldn’t be more excited to work with them to take a fresh perspective on their most iconic moments and superstars, and leverage Spotify’s global scale to share content that we believe everyone will enjoy.”

Sports Online

Wynn Resorts Plans To Cut Losses, Sell Sports Betting Unit For $500M

Wynn increased revenue from Q3 of 2020 at $370.5 million to $994.6 million in revenue in Q3 2021.

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Due to high marketing costs to bring in new customers, Wynn Resorts is looking to sell Wynn Interactive, the company’s betting unit, for $500 million. Wynn Interactive was valued at $3 billion last year, according to the New York Post, and has grown in revenue and popularity. But the costs are proving to be too much to handle. 

The WynnBET sportsbook has market access in multiple states including Arizona, Colorado, Indiana, Michigan, New Jersey, Tennessee, Virginia, Louisiana, and New York. It had also partnered up with NFL franchises and multiple professional athletes. Among these were the Indianapolis Colts, Detroit Lions, and New York Jets, along with Shaquille O’Neal, Tim Howard, and Chad Johnson.

Wynn increased revenue from Q3 of 2020 at $370.5 million to $994.6 million in revenue in Q3 2021. However, the company still remained at a net loss of $166.2 million during the quarter, down from a net loss of $758.1 million in Q3 2020.

Wynn is having to do a bit of backtracking and trying to cut their losses. They acquired a $1.5 billion line of credit from the Bank of China last September, with $100 million of it being planned to use to market the sports betting app for this year’s football season.

In another cancellation, Wynn was hoping to take the online sports betting division public via a SPAC merger with Austerlitz Acquisition Corporation but had to kiss that goodbye last November.

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FanDuel Makes Nearly $17 Million In New York After NFL Wild Card Weekend

Plenty of bettors in New York were chomping at the bit to legally wager on games.

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Mobile sports gambling has only been live in New York for a few weeks and already, the sportsbooks and the state are raking in the cash.

New York City news station WPIX reported Monday that FanDuel saw $16.9 million in gross revenue following Saturday and Sunday NFL Wild Card playoff games. The Monday night game featuring the Los Angeles Rams and the Arizona Cardinals was excluded from that total, but the sportsbook made an additional $2 million.

In New Jersey, PIX reported the state made $41.8 million in gross revenue in January 2021. That number was expected to be exceeded by FanDuel in New York as of Monday.

The station also reported $3.9 million in earnings for DraftKings, $14.1 million for Caesars Sportsbook, and $70,433 for RushStreet following NFL Wild Card Weekend.

Plenty of bettors in New York were chomping at the bit to legally wager on games and it’s clear the floodgates opened once everything went live earlier this month.

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U.S. Sports Betting Doubled To Over $52B In 2021

“The massive increase is also a result of billions spent by gambling operators on marketing campaigns. “

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Legalized sports betting continues to boom in the U.S. Due to launches in 11 new states, the market doubled in 2021, having over $52.7 billion wagered during the course of the year according to Morning Consult.

The massive increase is also a result of billions spent by gambling operators on marketing campaigns. 

Here are the facts: 

  • Adult bettors placing at least one bet a week went up 7% since January 2021 from 5% to 12%, 14% of bettors said their average bet is over $100, and oddsmakers only came away with around $4 billion of the amount wagered that year.
  • The majority of the U.S. has legalized sports betting. As of now, 30 states and Washington D.C. have jumped on the legalization train and young people are the driving force. 
  • 19% of adults between the ages of 21-34 have bet on sports at least once a week in legal and offshore sportsbooks. However, there is still a strong market for the slightly older demographic. 23% of U.S. adults aged 35-44 place a sports bet weekly, with another 8% wagering monthly.

“Given the proliferation of online sports betting and operators’ focus on digital marketing, it should come as no surprise that younger Americans are the most inclined to place wagers on games,” writes Morning Consult’s Alex Silverman.

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