Financial news outlet CNBC says that Apollo Global Management, the private equity group that acquired Yahoo in 2022, is exploring a merger of Yahoo Sports with a sports wagering platform. Discussions have taken place with multiple entities, including Australia-based PointsBet Holdings.
While no agreement has been reached, and those involved have refused to speak on the matter, insiders suggest this could result in Yahoo Sports being spun off, although it would probably remain under the Yahoo name.
Such a move is logical, given Yahoo’s pioneering role in fantasy sports, leading many to believe its vast user base would be receptive to sports betting. Although legal in 19 states and expanding, the online sports betting sector has experienced a recent slowdown due to the significant expenses associated with acquiring new users. Smaller players like PointsBet have found it challenging to rival industry heavyweights such as DraftKings, FanDuel, and BetMGM, fueling speculation that consolidation is unavoidable.
Its crucial we’re completely organized,” a confidential insider confessed, emphasizing the pressing requirement for collaboration within the organization. This follows closely on Apollo’s purchase of the Venetian, an action CNBC implies might significantly boost their Yahoo Sportsbook.
