Spotlight Sports Group (SSG) announced this week announced the acquisition of FA Media LLC, the company behind Alarm Sports Network. S Alarms Sports acquisition is meant to bolster SSG’s fantasy sports space presence.
SSG is a subsidiary group of Exponent Private Equity and specializes in providing content, media, and technology solutions in sports wagering.
Alarm Sports Network (ASN) provides white-label proprietary technology solutions and free games for blue-chip media and sports content. ASN also develop Fantasy Alarm and wager alarms for its consumer sports platforms.
The London-based Spotlight hopes that the Alarm acquisition will significantly increase its exposure to the North American sports wagering market. Spotlight has little exposure to North America vie its Pickwise platform.
The acquisition comes at the right time when North America-regulated sports is fast growing. The US is also the fastest sports betting market in the world, and the Canadian market, after approval of single-game betting, will eventually be worth $2 billion.
The iGaming and sports betting industries are consolidating through mergers and acquisitions. There seem to be some synergies between fantasy sports and sports wagering, and operators are converting the opportunity to make deals.
For instance, Bally acquired daily fantasy sports (DFS) this year. Bally made the deal after Monkey Knife Fight, the company behind DFS, acquired Fantasy Draft in January. Caesars also acquired a stake in SuperDraft Inc. Online sportsbook operators like FanDuel and DraftKings also hope to convert fantasy players to sports bettors.