Apollo considers merging Yahoo Sports with betting companies, sources say
Summary
The sports betting industry has slumped in recent months as a swath of companies have made customer acquisition increasingly expensive through significant marketing costs and promotional offers. Smaller publicly traded sports gambling companies, such as PointsBet and Rush Street Interactive, have slumped in the past year as they fight to compete with DraftKings, FanDuel, and BetMGM, the market leaders in the industry. Caesars and its owned asset William Hill, Fox Bet, and Rust Streets BetRivers are among other competitors fighting for users in the low margin sportsbook business. The intense competition has led companies to offer hundreds or even thousands of dollars in free money to first-time users to sign up for their applications. Disney has held licensing talks whereby a sportsbook could be branded with the ESPN name, but it hasnt pursued buying a gambling company, the people said.
