- Sports gaming app maker Boom Entertainment has raised $15 million in Series A through Sands Capital.
- MGM Resorts, Golden Nugget Online, Robert Kraft, and Rush Street Interactive (RSI) are among investors with the New York-based app creator.
- The funds will be used to expand gaming products in the world of sports betting.
NEW YORK – New York-based sports and gaming app creator Boom Entertainment is entering a new phase in the company’s life.
Through fundraising efforts led by Sands Capital, Boom Entertainment was able to raise $15 million in Series A funding.
Several big-name investors, including New England Patriots Owner Robert Kraft, are among these early investors. The company plans to use the funding to expand more into sports betting products as the market continues to grow across the nation.
Boom Entertainment And Sports Betting
Alongside Kraft, MGM Resorts, Golden Nugget Online, Rush Street Interactive (RSI), and Defy Partners are all backing this young company.
Boom aims to use its technology to create online sportsbooks within the growing industry. With more sportsbooks constantly popping up, their technology would help create apps that are more effective for users.
“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,” said Stephen A. Murphy, co-founder and CEO of Boom Entertainment. “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.”
Sands Capital has experience working in the sports gaming market, having led investment efforts for Entain, the operator for the BetMGM Sportsbook.
“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,” said Scott Frederick, partner at Sands Capital. “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.”
While the official evaluation of Boom Entertainment has not been released by the company, growth is expected. Boom Entertainment already provides products for the NBC Sports Predictor, PlayBarstool, Tim Hortons NHL Hockey Challenge, MSGN Pick’em, YES Pick N’ Play, Chirp Golf, and NASCAR Jackpot Races.
What Is Next For Boom
Boom’s plans will be to make their mark in the real money sports betting industry and through iGaming markets in the USA. They are aiming to create the technology for online gambling operations nationwide.
The first set of casino products run by Boom Entertainment will be rolling out in a few months, although an exact date has not been released.
Following this, the sports betting proprietary products will then see their launch. By the start of 2022, Boom Entertainments’ impact will begin to be noticeable in the sports gaming community.