Social gaming group Boom Entertainment is poised to enter the real-money gambling market after obtaining $15 million in funding.
The round of Series A funding included big names like New England Patriots owner Robert Kraft, Sands Capital, Golden Nugget Online Gaming, and Rush Street Interactive. The company is based out of New York and is planning to launch online casino games as well as sportsbetting products in the near future.
With big-name backing, it's entirely possible that Boom Entertainment will find a strong foothold in the American gaming market, where both online casino games and sportsbetting services are spreading rapidly. Boom has partnered with multiple entities throughout the United States, including with NBCSports, where they've offered a Sports Predictor game that's been utilized millions of times.
The company's sportsbetting division is currently being run by Chris Fargis, who formerly helped run DraftKings.
Regarding the funding Boom Entertainment CEO Stephen A. Murphy said, "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. 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."
Sands Capital partner Scott Frederick added: "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.
"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."