In April, renowned dealmaker Michael Klein told the crowd at SBJ’s World Congress of Sports that it was “a dramatic overstatement” to say institutional capital had flooded into sports, noting the industry still is dominated by individual investors while in other mature sectors “institutional dollars are roughly equal to 80% to 90% of the asset class.”

But that is quickly changing, as private equity firms continue to carve out stakes across the sports landscape, and recent months have featured an influx of new fund launches. Private equity principals tell Sports Business Journal that those efforts highlight the growing need for differentiation among private equity firms in the sector.

To be sure, the pace of investment activity should only accelerate, given the latest wave of capital formation for sports dealmaking.

Longtime sports executive Dave Checketts has teamed up with Utah’s Eccles family to launch Cynosure | Checketts Sports Capital, which plans to raise at least $1.2 billion.

Mark Cuban, Steve Cannon and Rashuan Williams are behind Harbinger Sports Partners, now raising $750 million to acquire minority team stakes.

In January, Ariel Investments rolled out women’s sports investment platform Project Level, which has acquired stakes in League One Volleyball and the NWSL’s expansion team in Denver. Though the fund has not disclosed a target size, Jason Wright, managing partner and head of investments, said it will be “a mix of growth equity, private equity and real estate return profiles.” Fund literature suggests it’s seeking minimum investments of $50 million.

Those newcomers are joined by existing sports investors pursuing new fundraising efforts, a group that includes Bruin Capital, a spokesperson for the company confirmed.

That’s to say nothing of the sports investment firms launched in recent years that continue to raise. According to recent SEC filings, Dynasty Equity Partners is nearly 40% of the way to its $1 billion target, while Velocity Capital Management is just over halfway to raising a planned $500 million debut fund.

The uptick in new sports funds flies in the face of broader trends, with the number of overall private equity fund launches dwindling in recent years.

In January, research from S&P Global revealed that just more than 1,000 new private equity funds debuted in 2024, less than one-quarter the number of funds launched during the highs of 2021. Global fundraising efforts have likewise stalled in that time, with fund managers raising a total $680 million last year, down 30% year over year and a nearly 40% decline from the high of $1.1 trillion raised four years ago.

“The recent proliferation of sports-oriented investment funds shows that the industry is ascendent and continues to attract more and more professional capital. This is a very good thing,” said Michael Spirito, co-founding partner of Sapphire Sport. “With that proliferation, however, comes even more competition for that capital base, both institutional and strategic. This is especially true in a macro environment, where early- to mid-stage private returns are taking longer.”

Sapphire Sport succeeded in raising an oversubscribed $181 million second fund a few years ago, and Spirito stressed the value of Sapphire’s differentiated focus on backing tech-enabled companies that can “enhance the sport and entertainment sector, but that also serve a broader audience.”

“Unless you have a very specific lens on what you’re investing in and the differentiators for you as a fund, then it’s actually a challenging [fundraising] environment.”

—  Jason Wright, Ariel Investments, Project Level

The need for differentiation was echoed by numerous fund managers, most of whom noted that simply providing exposure to sports is no longer sufficient.

“Unless you have a very specific lens on what you’re investing in and the differentiators for you as a fund, then it’s actually a challenging [fundraising] environment,” said Wright, noting Project Level’s ambitions to bring new scale and operational expertise to women’s sports properties. “We are finding it’s a unique value proposition.”

Project Level follows Monarch Collective, which launched in 2023 as the first fund specific to women’s sports. That sharp focus helped it blow past an initial $100 million target, with the firm closing a $250 million debut fund in March.

Wright also noted the benefit of operating within Ariel and alongside its co-CEO and President Mellody Hobson, which “makes us not feel like a new fund.”

Few, if any, sports-focused private equity investors are more established than Bruin, which was founded by CEO George Pyne in 2015. Pyne wouldn’t comment on his firm’s current fundraising efforts, citing SEC restrictions around solicitation, but he said Bruin has long sought to stand apart from the crowd. That’s included a focus on international dealmaking: Bruin’s eight portfolio companies have some 4,000 employees across two dozen countries.

“The international footprint of Bruin is unique,” Pyne said. “And we’re in the growth capital sector of private equity. The size of companies we’re investing in, we open up markets for them, which is really valuable.”

Pyne added that Bruin pursues “bilateral” opportunities where the firm can craft bespoke opportunities without competition, noting Bruin has “never competed with the same company twice on a deal.”

The Chernin Group’s Greg Bettinelli likewise highlighted how a track record of hunting for unique investments can set funds apart. TCG, which is still investing out of its $1.3 billion third fund, has homed in on a subset of categories, including international fandom, storytelling and youth sports.

“Most, if not all, of our deals in and around sports have been ‘proprietary,’” Bettinelli said. “We developed the thesis, we built the relationships, we went and structured or put together the investments versus those investments being brought to us.”

Differentiation remains important even for established funds putting a new emphasis on sports. One example is Cordillera Investment Partners, the $1.8 billion private equity firm with a focus on niche, non-correlated assets that recently acquired stakes in the Professional Triathletes Organisation and Denver NWSL.

Co-founder and co-managing partner Ashley Marks said Cordillera is eyeing further opportunities in emerging leagues, women’s sports and ancillary businesses, such as sports law firms.

“We are looking more for the nooks and crannies within sports, and really being diligent on … finding areas that are pre-institutional and not overly dependent on the media aspect of things,” Marks said.

Chris Smith can be reached at crsmith@sportsbusinessjournal.com.

The world of competitive sports is evolving rapidly, and nothing illustrates this better than the recent kickboxing match in Hangzhou, China, featuring two humanoid robots. These mechanical athletes, controlled remotely by skilled operators, engaged in a thrilling display of agility and precision. As they traded blows in the ring, it became clear that the future of combat sports may involve more than just human competitors. This event signifies a remarkable intersection of technology and athletics, demonstrating the potential for artificial intelligence (AI) to transform traditional sports.

The Rise of Humanoid Robots in Sports

Humanoid robots are not entirely new to the athletic scene, but their recent foray into combat sports marks a significant milestone. The event in Hangzhou showcased two slender, bipedal robots engaging in a dynamic match of kickboxing. Despite their thin frames, these robots delivered powerful punches, kicks, and knee strikes, captivating the audience with their performance. What makes this event particularly noteworthy is that it is the first of its kind, where humanoid robots are the main attraction in a combat sport setting. The audience watched in awe as the robots stumbled and fell but swiftly rose to continue the bout, demonstrating resilience and agility akin to human athletes.

While the robots themselves are impressive, it’s important to note that they are still reliant on human operators. These robots do not yet have the capability to act autonomously in the ring, as each move is orchestrated by a team of remote operators. This blend of human skill and robotic prowess represents the current state of AI integration in sports, highlighting both the advancements and limitations of technology in this field.

“It’s Not a Robot Anymore”: Boston Dynamics Unleashes Atlas With Superhuman 3D Vision—and It’s More Aware Than Most Humans

Technological Advances Driving Sports Innovation

The integration of AI and robotics into sports is fueled by rapid technological advancements. These humanoid robots are equipped with sophisticated sensors and actuators, enabling them to perform complex movements required in combat sports. The development of such robots involves interdisciplinary collaboration, combining expertise from robotics, AI, and sports science. This collaboration is essential for enhancing the robots’ performance, allowing them to mimic human movements more accurately.

Moreover, this event underscores the potential of AI to revolutionize traditional sports. As technology continues to evolve, we may see further incorporation of AI not only in combat sports but across various athletic disciplines. The implications are vast, ranging from improved training methods for human athletes to the creation of entirely new sports that challenge both human and robotic participants. The fusion of AI and sports promises to push the boundaries of what is possible, offering a glimpse into a future where technology and athletics are inextricably linked.

“Like a Snake Made of Origami”: This New Soft Robot Slithers Through Tight Spaces Using a Freaky Kirigami Skin

Implications for the Future of Competitive Sports

The introduction of humanoid robots into the realm of combat sports raises intriguing questions about the future of competitions. Will robots eventually compete independently, without human intervention? How will this shift impact the perception and popularity of traditional sports? As these technologies develop, they may pave the way for entirely new genres of sports that blend human and robotic elements. The excitement surrounding these events could attract new audiences, broadening the appeal of sports to tech enthusiasts and younger generations.

Furthermore, the integration of AI in sports could lead to enhanced safety protocols, as robots can be designed to minimize injury risks during competitions. This aspect is particularly relevant in contact sports, where athlete safety is a paramount concern. As AI continues to advance, it will be crucial to address ethical considerations, such as ensuring fair competition and maintaining the integrity of sportsmanship. The balance between human and machine in sports will likely be a topic of ongoing debate as the landscape of competitive athletics evolves.

“Robot Walks Out Alone”: Scottish Scientists Create 3D-Printed Creature That Moves on Its Own—No Wires, No Code, No Human Control

China’s Role in AI and Robotics Development

The event in Hangzhou highlights China’s growing influence in the field of AI and robotics. The country has invested heavily in these technologies, aiming to become a global leader in innovation. The development of humanoid robots for sports is just one facet of China’s broader strategy to integrate AI into various sectors, including military applications. Recently, China announced the construction of a giant quadruped military robot, signaling its commitment to advancing robotic capabilities.

This focus on AI and robotics positions China at the forefront of technological innovation, with implications extending beyond sports. As China continues to push the boundaries of what is possible with AI, it sets the stage for international competition in technology development. The outcomes of these advancements will shape not only the future of sports but also the broader landscape of AI applications worldwide.

The introduction of humanoid robots into combat sports is a testament to the rapid progress of AI and robotics. As technology continues to evolve, it will be fascinating to see how these developments influence the future of sports and beyond. Will we see a day where robots and humans compete side by side on equal footing? How will these innovations reshape our understanding of competition and athleticism in the years to come?

Our author used artificial intelligence to enhance this article.

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LONDON, June 16, 2025 /PRNewswire/ — International Game Technology PLC (NYSE: IGT) announced today that it recently signed a new, three-year sports betting technology agreement with Boyd Gaming Corporation. Under the terms of the agreement, IGT’s award-winning PlaySports platform will continue powering Boyd Gaming’s retail and mobile sports betting offering in Nevada through August 2028. The new agreement builds on IGT and Boyd Gaming’s long-standing sports betting technology partnership that started in 2018.

“Boyd Gaming is pleased to announce our decision to continue powering our retail and mobile sportsbooks in Nevada with IGT PlaySports technology,” said Bob Scucci, Vice President of Race & Sports Operations for Boyd Gaming. “As the core technology of our sports betting offering in Nevada, IGT PlaySports’ platform enables us to evolve Boyd Sports in ways that deliver incremental value to our players and seamlessly scale our offering to address new business opportunities.”

“IGT PlaySports looks forward to continuing our close partnership with Boyd Gaming in Nevada for three additional years and helping them engage players across channels in the most mature, competitive sports betting market in the U.S.,” said Joe Bertolone, IGT SVP of Sports Betting. “IGT PlaySports continues to invest in and grow our footprint in Nevada. The performance, reliability and scalability of our technology stack and self-service betting technologies ensure our customers benefit from the most comprehensive B2B solution in North America.”

In addition to using the IGT PlaySports platform, Boyd Gaming will continue to offer IGT’s PlaySports Kiosks at its 10 retail betting locations across Nevada.

IGT PlaySports technology also powers retail sportsbooks at Boyd Gaming-owned casinos in Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Ohio, and Pennsylvania. IGT PlaySports was named “Sportsbook Platform Provider of the Year” at the 2024 EGR North America Awards. For more information, visit IGT.com, or follow IGT PlaySports on LinkedIn.

About IGT
IGT (NYSE: IGT) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.

Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the “Company”) and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, products and services, customer relationships, results of operations, or financial condition, or otherwise, including the various environmental, social, governance and sustainability initiatives, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as “aim,” “anticipate,” “believe,” “plan,” “could,” “would,” “should,” “shall,” “continue,” “estimate,” “expect,” “forecast,” “future,” “guidance,” “intend,” “may,” “will,” “possible,” “potential,” “predict,” “project” or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company’s annual report on Form 20-F for the financial year ended December 31, 2024 and other documents led from time to time with the SEC, which are available on the SEC’s website at www.sec.gov and on the investor relations section of the Company’s website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company’s business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.

Contact:
Phil O’Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (775) 448-0257
Matteo Selva, Italian media inquiries, +39 366 6803635
James Hurley, Investor Relations, +1 (401) 392-7190

© 2025 IGT

The trademarks and/or service marks used herein are either trademarks or registered trademarks of IGT, its affiliates or its licensors.

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SOURCE International Game Technology PLC

Snap Fitness taps Spren’s AI coaching and smartphone-based scanning tech to engage the 90% of members without trainers

Spren, a fitness tech company specializing in smartphone-based, DEXA-accurate body scans and AI-powered coaching, has partnered with Snap Fitness to bring its platform to more than 1,100 gyms worldwide.

News of the partnership was first shared in a recent episode of The Future of Fitness, an industry podcast hosted by Eric Malzone.

The rollout will allow members to access real-time body composition analysis directly from their phones, alongside adaptive nutrition plans and AI-driven coaching.

The partnership aims to solve a persistent challenge in the fitness industry: the 90% of members who don’t work with personal trainers. By embedding Spren’s AI coaching and body scan capabilities directly into the gym experience (without requiring new hardware) the platform creates new engagement opportunities both inside and outside the gym. The body composition analysis takes just under two minutes, and members can receive personalized nutrition targets and training suggestions while gym operators gain new tools for upselling and retention. Trainers can even scale their influence by creating custom AI personas.

According to Spren, data suggests the offering can increase member visit frequency , boost retention, activate more personal training clients and improve lead conversion by up to 23%.

See Also

Beyond its collaboration with Spren, Snap Fitness also recently relaunched its BeneFIT program, offering its members health and wellness-related perks and discounts through a new partnership with Endurance Zone, a member engagement and loyalty platform for the sports and fitness industry.

Thank you to CoHost for renewing your support. CoHost helps publish your podcast on all listening platforms, and has audience insights that tell you the demographics, interests and habits of your audience. It’s companies like CoHost that keep Podnews free for everyone; you can join them by supporting us here.

Moves and hires

• Andy Rogers, formerly Senior Director, Business Development & Partnerships at Libsyn, is “now a free agent”, he tells us, and is available for work. He’d been at Libsyn for four and a half years.

The Tech Stuff – with RSS.com

The Podnews Daily podcast uses both websub and podping to announce that we have a new episode available, as soon as we publish. So, as a fun timing experiment, how quickly did those new episodes get onto podcast apps?

On iPhone, we set a notification to appear for each new episode on both Pocket Casts and Apple Podcasts. Here’s when those notifications came in (local time):

May 30: Pocket Casts: 22:50. Apple: 23:04.

May 31: Pocket Casts: 20:28. Apple: 20:43.

Jun 2: Pocket Casts: 20:57. Apple: 21:07.

Jun 5: Pocket Casts: 19:49. Apple: 19:56.

Jun 6: Pocket Casts: 19:30. Apple: 19:41.

Jun 10: Pocket Casts: 21:29. Apple: 21:47.

Jun 11: Pocket Casts: 21:26. Apple: 21:39.

In all the examples above, it took Pocket Casts less than ninety seconds from us publishing the show on open RSS to send us a notification. Apple Podcasts was consistently later: anything from ten to 18 minutes late.

Our RSS stats for last Friday show that Pocket Casts grabs our RSS feed every 17 minutes, while Apple grabs it every 5 minutes – more than three times more.

This isn’t a fair test for a number of reasons; as a daily podcast, we’re polled more often than a weekly one; notifications aren’t a reliable indicator for when a new show is playable in the app; etc. But, if it’s of interest, Apple Podcasts doesn’t use websub or podping, to the best of our knowledge, while Pocket Casts uses both.

• Did OP3 go down at the end of last week, during the Big Google Outage that appeared to knock almost everything off the internet? John Spurlock would like us to know that no, it didn’t.

• Podcasters using 11ty to produce their static websites might like Podcaster, an Eleventy plugin, which produces RSS feeds, so you can host your own audio too.

• There’s a tag in the original RSS 2.0 specification. As of now, the New Podcasts podcast feed uses it, because it’s ideal to link back to the original feed that the trailer comes from.

Tips and tricks – with Memberful

Podcast News – with Podcast Movement

The Medley is a talk show hosted by an autistic media personality Blake “Crash” Priddle featuring intimate conversations with all kinds of aspiring people from across the arts and entertainment industry as well as folks that have inspiring stories to tell. What makes this show special is you will find guests that you won’t find on another other podcast.







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By BERNARD CONDON, Associated Press

NEW YORK  — The Trump family said it is licensing its name to a new mobile phone service, the latest in a string of ventures that have been announced while Donald Trump is in the White House despite ethical concerns that the U.S. president could mold public policy for personal gain.

Eric Trump, one of President Donald Trump’s sons running The Trump Organization, said the new venture called, Trump Mobile, will sell phones that will be built in the U.S., and the phone service will maintain a call center in the country as well.