As an increasing number of European betting operators seek to enhance their position in the ever-expanding US sports betting market, David VanEgmond argued that these companies must solidify partnerships with American firms to fill their ‘marketing funnel’.
What is it?
An experienced figure in the US sports betting industry, David VanEgmond has served in two Executive Vice President roles at FanDuel, held the position of Head of Strategy and Corporate Development at Barstool Sports – where he oversaw the sale of shares to Penn National Gaming – and is currently Founder and CEO of Bettor Capital.
Who is it?
David VanEgmond, Founder and CEO of Bettor Capital
What is being said?
After discussing Penn National Gaming’s acquisition of shares in Barstool Sports, VanEgmond was quizzed about which emerging brands he finds the most exciting in the US online sports betting space, and offered a varied response.
He began: “I think there are several and some have filled in the gaps in the last few years. First, you had Void Gaming but they made the decision to align with FanDuel. You had the old Twin Rivers, who did their deal with Bally’s and transformed their business and they did a media partnership subsequently with Sinclar.
“You certainly have other, smaller casino operators, probably without the footprint nationally of Penn National, but you have casino groups that are in a couple of states, and casino groups even in one state, that are trying to go after the online gaming market. Someone like Parks out of Pennsylvania, they’ve launched in several states under the Parks brand. But does anyone in Michigan know Parks? Probably not, so it will be hard to drive success there with that brand.
“There are several groups like that who are clearly going after online gaming but to build a national business likely needed a media brand. I think you’re seeing companies from Europe – whether it’s 888 or Sports Illustrated – they’re not having any traction, so I think they need a US brand. I think there are plenty of other potential suitors out there, and companies are trying to do deals to fill this gap in their brand and what I’d call a ‘marketing funnel’.”
Why should I watch it?
To gain an understanding of the dynamics of the US sports betting and gaming industry, with regards to recent developments as the sector continues to grow, and hear insights from an experienced executive in the fields of marketing, branding and commercial strategy, among other areas.
Where can I see more?