Boom Entertainment will accelerate its expansion into real-money products after closing a $15m funding round that included Sands Capital, Robert Kraft and leading gambling operators.
The New York-headquartered game developer and technology provider said it will unveil its first wave of casino games to select partners in the coming months, and will launch its proprietary sports betting games and product offerings to partners soon after.
The series A funding round was led by Sands Capital, which has nearly $80bn under management and is a shareholder in Entain. Golden Nugget Online Gaming (GNOG) and Rush Street Interactive also joined the round, as did New England Patriots owner Kraft and former MGM Resorts International chief executive Jim Murren.
“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 chief executive of Boom.
“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.”
Boom is partnered with organisations including media groups, sports leagues, retailers and sportsbook and casino operators. Its games, including NBC Sports Predictor, have been played by more than three million users.
Boom’s real-money sports division has been led by former DraftKings director of sportsbook Chris Fargis since June 2021.
“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.”
Earlier this year, GNOG signed a wide-ranging partnership with Boom that included investment as well as access to its portfolio of products and services.