Boom Entertainment, the creator of sports gaming apps such as NBC Sports Predictor, has announced a $15m Series A funding led by Sands Capital to fuel the company’s expansion into real-money gaming products.
Investment firm Sands Capital, with nearly $80bn under management (including stakes in Amazon, Netflix, and Nike), has extensive experience in real-money gaming as shareholders of Entain and as previous shareholders of Las Vegas Sands.
Stephen A Murphy, Co-founder and CEO of Boom Entertainment, commented: “Sports fans and casino players are craving something more – new products and new games that will transform how they consume sports and how they are entertained. With this capital infusion, we will redefine what real-money gaming looks like by introducing new ways to bet on sports and new experiences for players.”
Scott Frederick, Partner at Sands Capital, added: “Boom is in an enviable position as the premier provider of technology and games in an industry that is both rapidly expanding and increasingly in need of product differentiation.
“Boom offers the entire continuum, from mass-casual free-to-play gaming products to fantasy sports to online casino and sports betting games. They are the go-to partner for any company looking to maximize their opportunity in this category.”
Joining Sands Capital in the round is a list of investors that includes Defy Partners, Golden Nugget Online Gaming, Rush Street Interactive, TEGNA, Bettor Capital, Velo Capital, Alpha Bridge Ventures, and Heatwave Partners.
Also investing is New England Patriots owner Robert Kraft, former MGM Resorts International CEO Jim Murren, former IGT CEO Patti Hart, Better Collective CEO Jesper Sogaard, J2 Global CEO Vivek Shah, Eilers & Krejcik partner Chris Grove, former ESPN SVP Sean Bratches, and former NBA SVP Chris Pantoya among others.
Boom Entertainment said it is now poised to make its mark on the real-money casino and sports betting industry. The company will unveil its first wave of casino games to select partners in the coming months, and will launch its proprietary sports betting games and product offerings to partners shortly thereafter.