Apollo Global Management is reportedly contemplating merging Yahoo Sports with a sports betting company. The US private equity firm bought Yahoo as part of a $5bn deal with Verizon last year.
CNBC reported on Wednesday that Apollo is holding preliminary discussions with numerous betting companies, including Australia-based PointsBet. Sources remained anonymous due to the nature of the private discussions. They stated that the talks are at an early stage, with no deal imminent.
Apollo already has numerous other gambling-related interests. Just last month, it closed its acquisition of the Venetian Resort Las Vegas and the Venetian Expo in a deal worth $2.25bn. Apollo has also purchased Great Canadian Gaming for $1.96bn and Italian gaming operator Gamenet for about $1.2bn over the past couple of years.
The company has also pursued acquisitions with less success. Apollo made an unsuccessful $2.92bn bid for various aspects of Australian gambling giant Tabcorp’s business last year, as well as failing to take over the non-US assets of William Hill despite making a bid in September 2020.
Read more: VSO
