Deal strengthens Playmaker's presence in Canada ahead of Ontario's sports betting market launch
As Ontario prepares to open its sports betting market to commercial operators, the digital sports media company Playmaker Capital Inc. has acquired The Nation Network (TNN) and its subsidiary, Daily Face Off (DFO), for $15 million.
TNN is an Edmonton-based, “hockey-first” digital media group operating a network of fan community sites, podcasts and a hockey reference property, DFO. TNN’s brand portfolio includes Oilersnation.com, Canucksarmy.com, Hockeyfights.com and Daily Faceoff. The acquisition came ahead of Ontario’s launch of an open and competitive market for sports betting operators and suppliers.
In August, single-game sports betting was decriminalized in Canada which was predicted to increase merger and acquisition activities. The Alcohol and Gaming Commission of Ontario has released its sports and event betting standards with a forecasted commercial launch in late 2021 or early 2022.
TNN and DFO have generated over one billion pageviews since their inception in 2007. The two companies have also produced more than 5.2 million monthly sessions, engaged with 5.4 million social media followers and generated 4.6 million annual podcast downloads.
With the platform acquisition of TNN and DFO, Playmaker will immediately reach an additional 27 million annual users and significantly strengthen its exposure to the Canadian sports market.
“TNN is Playmaker’s first acquisition in our home market of Canada, giving Playmaker true audience reach from the top of Canada to the bottom of Argentina,” said Jordan Gnat, Playmaker CEO., “This is particularly important in Canada as we look towards Q1 2022 when third party sports betting operators will be permitted to operate in Ontario.”
The acquisition will also diversify Playmaker’s revenue streams through a subscription-based premium content model, according to Gnat.
Frank Seravalli, President of Hockey Content at Daily Faceoff added, “Partnering with Playmaker better enables us to continue on our trajectory in becoming the premier destination for refreshingly independent hockey coverage in the digital space."
