In episode 168 of the Business of Betting podcast, Jake Williams sits down with Benjie Cherniak – former Principal and MD of Don Best Sports – who is now the current Principal of Avenue H Capital.
What is it?
Cherniak reflects on building and selling the Don Best business and his role at Avenue H Capital before touching upon new businesses entering the US sports betting industry.
Who is it?
Jake Williams – Business of Betting Podcast Host
Benjie Cherniak – Principal of Avenue H Capital
What is being said?
Discussing the sale of Don Best and the prior M&A interest ahead of the repeal of the Professional and Amateur Sports Protection Act (PASPA), Cherniak said: “At the time that it became clear that PASPA was being repealed, that announcement was made. There was interest from an M&A perspective over the years, especially given that we were a strong asset in the US.
“Even before it became clear that the US market was even going to open up, there was certainly some M&A interest. But it certainly expedited and augmented as PASPA’s repeal neared. We began having conversations with some entities – and of course we entered into an agreement with the folks at Scientific Games and that became the most synergistic fit.
“It was all very exciting in the sense that you spend all of these years working at something and building an asset. You then come to the realisation that the asset you have built not only has a legacy in the sports betting space but also has value for a major public company such as Scientific Games which was really gratifying, not just for myself but for everyone within our organisation.”
Why should I watch it?
To find out more about Cherniak’s journey within the sports betting space, the sale of Don Best to Scientific Games and the growth of the US sports betting industry.
Where can I see more?
Source: Business of Betting YouTube Channel