A wagering firm remains silent amidst speculation regarding a possible purchase of Spotlight Sports.
The bookie dismissed a recent piece in The Sunday Times as “highly conjectural.” The piece identified them as a probable purchaser for Spotlight Sports Group.
It seems Exponent, the private equity group that possesses Spotlight, is preparing to “divest” the company for a hefty £500 million. The piece suggested that this specific wagering firm is at the forefront of potential buyers.
Spotlight is a major player in the sports media realm. They are the group behind the renowned Racing Post, alongside other popular wagering tip platforms like MyRacing, Free Super Tips, and Soccerbase. Their portfolio also includes Pickwise, a brand with a U.S. focus.
Conjecture about Exponent’s desire to sell Spotlight has been circulating since November 2021 when reports surfaced about the firm’s dialogues with investment banks. Later, whispers suggested Exponent had selected PJT Partners to manage the sale of Spotlight.
Despite all the chatter, the wagering firm refused to elaborate when contacted by Gambling Insider. They released a statement indicating, “The article is highly speculative, and considering our transparent M&A approach and history, we are not surprised to be linked when these sorts of rumors arise.”
They continued, “That being said, we do not respond to – or participate in – speculation.”
For those keeping track, this Copenhagen-based wagering company, traded on the Stockholm stock exchange, currently holds a valuation of nearly SEK 8 billion (roughly $799 million). They already possess a collection of betting advice websites, including Bettingexpert.com, Irishracing.com, and SmartBet.
Enhanced Collective has been aggressively expanding within the United States, acquiring Action Network and RotoGrinders in the previous year. The integration of Spotlight into their portfolio is a strong indicator of their commitment to becoming a dominant force in the US market, amplifying their reach and providing them with additional resources to excel.