Portfolio Company Spotlight – Boom Entertainment
Portfolio Company Spotlight - Boom Entertainment
In this week’s Portfolio Company Spotlight Joshua Siegel and Mat Kaliski of Acronym Venture Capital* discuss Boom Entertainment (“Boom”).
Boom provides a premium game creation and technology platform for the online gaming industry. Casinos, large media companies and sports organizations leverage Boom’s proprietary technology to develop engaging content and games. Its customers include NBC Sports, Barstool Sports and Tim Hortons.
Their products span both free-to-play and real-money games, but Boom also launched its own Daily Fantasy Sports (“DFS”) app in the fall of 2022, which has been getting extremely good traction. It is a large and growing market. In a recent New York Times article, Nate Silver estimates that total wagers placed by Americans every year passes $1 trillion.
But it can also benefit states and local communities through additional revenue. Richard Kalm, executive director of the Michigan Gaming Control Board said that “state and local communities will benefit from taxes and payments on wagering revenue”.
* Acronym Venture Capital is an independent venture capital fund manager. Ballast Rock Asset Management and Acronym Venture Capital are both general partners of the BR AVC Growth Fund.
* Ballast Rock Asset Management (“BRAM”), Ballast Rock Private Wealth (“BRPW”), and Ballast Rock Capital (“BRC”) are operating entities of Ballast Rock Holdings (“BRH"), an integrated investment management company. Ballast Rock Asset Management is a non-registered entity. Ballast Rock Real Estate is a wholly owned subsidiary of BRAM. BRPW is a registered investment advisor. BRC is a registered Broker dealer and a MEMBER of FINRA / SIPC. BRC’s registered head office is 460 King Street, Suite 200, Charleston, SC, 29403. Tel: 800-204-2513. To check background information about BRC and its representatives, visit FINRA’s BrokerCheck. Please see important disclosure information in our Form CRS
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