Entain Joins NBA Legend’s Charity Project
The Entain Foundation US, which is the US-based non-profit charitable trust arm of international sports betting provider Entain, has announced that it is partnering together with former NBA legend Charles Oakley’s ‘Oak Out Hunger’ charity project. The initiative will run charity drives and problem gambling awareness campaigns in several major US cities.
The Entain Foundation US is partnering together with former NBA legend Charles Oakley’s ‘Oak Out Hunger’ charity project, lending its expertise in preventing and mitigating problem gambling. ©nikolaytaman90/Pixabay
Entain Will Sponsor Oakley’s Problem Gambling Awareness Campaign
International sports betting company Entain’s US-based non-profit charitable trust, the Entain Foundation US, has revealed that it is partnering together with former National Basketball Association (NBA) star Charles Oakley on a charity project.
The nascent partnership involves the Entain Foundation US sponsoring the basketball legend’s ‘Oak Out Hunger’ project to include educational materials specifically about responsible gambling.
The Entain Foundation US will provide the initiative, which is supported by the Charles Oakley Foundation, with funding, while also lending its expertise in preventing and mitigating problem gambling.
The project will provide additional channels of support to impoverished and underprivileged communities facing hunger, addiction and economic challenges in cities across the US. Starting in early 2022, it will establish itself in cities including Los Angeles, New York, Buffalo, Philadelphia and New Orleans and will coincide with major sporting events.
The ‘Oak Out Hunger’ campaign will also roll through major US college towns, home to institutions such as Indiana University, the University of Michigan and Michigan State, Ohio State, West Virginia and Tennessee.
’Oak Out Hunger’ Program is About Breaking the Cycle of Problem Gambling
Commenting on his ‘Oak Out Hunger’ charity initiative, Charles Oakley spoke about his first-hand experiences witnessing desperation on US city streets, claiming that his program aims to break the cycle of addiction:
“It’s all about giving back to people who are trying to get through life. I go all over. And you see people hanging out on the streets, nowhere to get a meal, some of whom use what little money they have to fund addictions. Our program is about helping to break that cycle. Give them a chance and a good meal. Meet some different people and have a good time.”– Charles Oakley, Founder, Oak Out Hunger
Martin Lycka, Entain’s senior president for American regulatory affairs and responsible gambling, and a trustee of the Entain Foundation US, described Oakley’s program as unique and effective in serving underprivileged communities across the nation:
“As sports betting takes off across many US states, we’re committed to do all we can to ensure that people only bet what they can afford – which is especially important in more deprived communities. The Oak Out Hunger campaign is truly unique – and effective – in providing essential services to impoverished and underprivileged urban communities across the US. The Oakley Foundation is an ideal partner to help us reach those in most need with education on responsible gambling.”– Martin Lycka, Trustee, Entain Foundation US
DraftKings and Entain Negotiations Fell Apart in October 2021
Entain was close to being under completely new management as recently as a month ago, when highly-popular fantasy sports operator DraftKings revealed that it no longer had any intent to pursue its interest in acquiring the international sports betting and gambling company.
Following Entain rejecting its initial offer of $20 billion, DraftKings reapproached it with an offer of $22 billion intended to acquire the company in September 2021. Earlier in 2021, Entain turned heads when it rejected an impressive $11 billion offer from MGM Resorts.
Following DraftKing pulling out of negotiations to acquire the sportsbook operator, Entain’s board released a statementt in which it emphasized its future as a strong, independent business:
“Entain has an outstanding track record of growth having delivered 23 consecutive quarters of double digit online NGR growth, representing a three-year CAGR of 19% across 2021. As a result the Board is confident in Entain’s ability to continue to deliver material value for its shareholders going forward.”
NBA to Gain Equity Stake in Sportradar
Last week in November 2021, sports data supplier Sportradar announced a landmark partnership with the NBA in which it is set to become the exclusive data provider to the basketball league, as well as the Women’s National Basketball Association and NBA G League.
In return, the NBA now has the option to purchase 3% of the outstanding shares in Sportradar for $0.01 each. The multi-year deal is an extension of an existing agreement between the sport data provider and the NBA which initially began in 2016.
Another feature of the deal is that Sportradar will also become both the authorized global distributor of official NBA and WNBA betting data and the distributor of live game video which international sports betting operators can deliver to fans in real-time.
The senior vice president, head of gaming and new business ventures at the NBA, Scott Kaufman-Ross, sees much promise in the continued partnership between the league and sports technology provider Sportradar:
“Sportradar has been a terrific partner as the league has navigated its exploration into the global sports betting landscape. As the market matures, we are thrilled to extend our partnership with Sportradar to utilise data and insights to create new fan experiences and innovate around the NBA globally.”
