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Sports Bookmakers Ready For Billions To Be Bet On Esports

Published in SportsBusiness Daily Global on 08 / 29 / 16

If esports "really are the next big thing in sports," then betting on esports is "the next big thing in gambling, and established bookmakers are getting ready," according to Eben Novy-Williams of BLOOMBERG. Sky Betting spokesperson Adam Smith said, "This is the future of sports, and we have to focus...

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Tags: Finance, Europe

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Singles Day Lifts Nike's Profit In China

Nike made more profit in China than Western Europe in its most recent quarter, "partly due to a dramatic increase in online sales" in the country and the "Singles Day" phenomenon, according to Shona Ghosh of MARKETING MAGAZINE. Singles Day is a holiday in China dedicated to unmarried individual ...

Tags: Finance, Asia

Bournemouth Faces Sanctions

EPL side Bournemouth could be hit with a "large fine" after overspending in its pursuit of promotion to the top flight last season, according to Gary Jacob of the LONDON TIMES. The club lifted the League Championship trophy last season and has made a "promising start" to its inaugural campaign ...

Tags: Finance, United Kingdom

Portuguese Club Ordered To Pay $13M

One of European football's "most prominent clubs" has been ordered to pay €12M ($13.1M) "to an investment fund after losing a lawsuit at the top court in international sports," according to to Tariq Panja of BLOOMBERG. Sporting Clube de Portugal, an 18-time national champion known as Sporting L ...

Tags: Finance, Europe

China Sports Expects To Reach $1.1T

The Chinese sports sector is expected to expand to 7T yuan ($1.1T) by '25, "2 trillion more than the central government's 5 trillion target," according to He Lanying of YUTANG SPORTS. That is according to the local governments, after they reported their goals for their sports sectors. Earlier this m ...

Tags: Finance, China

FIFA Holds Back $92M Of WC Legacy Cash

FIFA "is suspending further transfers from a World Cup legacy fund to Brazil pending further talks with the Brazilian federation" (CBF), according to Samindra Kunti of INSIDE WORLD FOOTBALL. Brazil has only received $8.7M from the fund "17 months after the most profitable World Cup in history." The ...

Tags: Finance, Brazil

Clothing Brand Buys 5% Stake In MSV Duisburg

N.Y.-based clothing and fashion brand Capelli Group has acquired a 5.1% stake "in second-tier German side MSV Duisburg," according to SOCCEREX. Capelli Group signed a seven-year contract with MSV, "in which time it will contribute to the financing and development of a new youth academy for the club. ...

Tags: Europe, Finance

Haryanto Seeking $16M To Realize F1 Dream

Indonesian Rio Haryanto needs to raise €15M ($16.3M) to realize his dream of racing in F1 "with the Manor Marussia team next season," according to Alan Baldwin of REUTERS. The Jakarta Post reported that Youth & Sports Minister Imam Nahrawi "was lobbying businesses and state-owned enterprise ...

Tags: Asia, Finance

Constantin Medien Raises Earnings Forecast

Constantin Medien AG raised its forecast for the financial year '15 regarding the earnings attributable to shareholders. Based on unchanged currency conditions, the company's board now assumes earnings attributable to shareholders will amount to between €10M ($10.8M) and €12M ($13M) (previ ...

Tags: Finance, Europe

AC Milan Sale Will Not Close This Year

The sale of a 48% stake in Serie A side AC Milan to Thai businessman Bee Taechaubol "is facing delays and will not close this year, two sources close to the matter said," according to Elvira Pollina of REUTERS. The club is owned by Fininvest, the family holding of former Italian PM Silvio ...

Tags: Finance, Europe

A-League Clubs Risk Losing Players

Four A-League clubs risk "losing competition points, seeing their players made free agents and other potential sanctions" if they do not catch up on outstanding payments to players by Dec. 31, according to Sebastian Hassett of the SYDNEY MORNING HERALD. Brisbane Roar, Adelaide United, Newcastle ...

Tags: Australia, Finance

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