PlaybyPlay Podcast: Electronic Arts (NasdaqGS: EA) Announces Worldwide Launch of F1 23, and DraftKings (NasdaqGS: DKNG) to Acquire PointBet Holdings

Vancouver, Kelowna and Delta, BC - June 16, 2023 (Investorideas.com Newswire) Investorideas.com, a global investor news source issues today's edition of Play by Play covering what's new in sports and esports headlines plus recent news from publicly traded companies.

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Electronic Arts Inc. (NasdaqGS:EA) has announced the worldwide launch of EA SPORTS F1 23, an official game of the FIA Formula One World Championship on PlayStation 5, Xbox Series X|S, PlayStation 4, Xbox One, and PC, via EA App, Epic Games Store, and Steam. Lee Mather, Senior Creative Director at Codemasters, explained:

"F1 23 has everything players love about competing for the World Championship and propels them further into the world of Formula 1. We're connecting more players this season through F1 World, delivering fresh, timely challenges throughout the 2023 season and a new safety rating system designed to promote healthy, respectful multiplayer competition. Whether competing on wheel or pad, players will immediately feel in control thanks to implemented feedback from real F1 drivers. Our Precision Drive controller technology will revolutionise pad play and give players a greater sense of what it's like to handle some of the fastest vehicles in motorsport."

DraftKings Inc. (NasdaqGS:DKNG) has delivered a letter to both the Non-Executive Chairman and Chief Executive Officer of PointsBet Holdings Ltd. with an offer to acquire the latter's U.S. business in an all-cash transaction with a purchase price of $195 million. Jason Park, DraftKings' Chief Financial Officer, commented:

"We expect this transaction to increase our Adjusted EBITDA potential in 2025 and beyond and not impact our expectations of achieving positive Adjusted EBITDA in 2024. We are excited about the potential synergies available by acquiring PointsBet's U.S. business, including offering our customers interesting new bet types and accelerating our roadmap of bringing in-house more of our mobile sports betting technology."

Michael Jordan to Sell Majority Stake in Charlotte Hornets, and First Round of US Open Sees Rickie Fowler and Xander Schauffele Shoot 62

The Associated Press reports that basketball legend Michael Jordan is selling his majority ownership stake of the Charlotte Hornets. Jordan bought the team in 2010 for about $275 million, and will reportedly sell to a group led by Gabe Plotkin, a minority stakeholder in the Hornets, and Rick Schnall, a minority owner of the Atlanta Hawks. NBA Commissioner Adam Silver commented:

"In the same way that it's wonderful that one of our greatest, Michael Jordan, could become the principal governor of a team, he has the absolute right to sell at the same time. Values have gone up a lot since he bought that team, so that is his decision."

ESPN reported that the opening round of the 123rd U.S. Open at Los Angeles Country Club saw American Rickie Fowler pour in 10 birdies in a single round to shoot 62. This was the first 62 recorded in a round at the U.S. Open in 122 years. Also, the scoring average in the first round was 71.38, the lowest in an opening round of a U.S. Open in the past 90 years. Fowler was followed in short order by Xander Schauffele, who who fired a bogey-free 62. Schauffele commented:

"The sun didn't come out and it was misting this morning, so I'd say the greens held a little bit more moisture than anticipated. And then the fairways are a little bit softer, too, because of that sort of overcast, and without the sun out it's not drying out much. I think fairways are easier to hit and greens are a little bit softer."

Sam Mowers, Investorideas.com

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