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Top Esports Stocks To Keep An Eye On – May 9th

Insight Enterprises, PENN Entertainment, Sphere Entertainment, Madison Square Garden Sports, and Allied Gaming & Entertainment are the five Esports stocks to watch today, according to MarketBeat’s stock screener tool. Esports stocks are publicly traded shares of companies whose core business revolves around competitive video gaming—this includes game publishers, tournament organizers, streaming platforms and hardware or […]

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Insight Enterprises, PENN Entertainment, Sphere Entertainment, Madison Square Garden Sports, and Allied Gaming & Entertainment are the five Esports stocks to watch today, according to MarketBeat’s stock screener tool. Esports stocks are publicly traded shares of companies whose core business revolves around competitive video gaming—this includes game publishers, tournament organizers, streaming platforms and hardware or peripheral manufacturers. By buying these stocks, investors gain exposure to the rapidly expanding esports market, which generates revenue through sponsorships, media rights, advertising, merchandise and in-game purchases. The performance of esports stocks typically mirrors trends in audience growth, player engagement and technological innovation. These companies had the highest dollar trading volume of any Esports stocks within the last several days.

Insight Enterprises (NSIT)

Insight Enterprises, Inc., together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.

NSIT stock traded down $2.63 during trading hours on Friday, hitting $133.70. 174,842 shares of the stock traded hands, compared to its average volume of 312,810. Insight Enterprises has a one year low of $126.10 and a one year high of $228.07. The stock has a 50-day simple moving average of $142.99 and a 200 day simple moving average of $157.38. The company has a market cap of $4.27 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.40 and a beta of 1.22. The company has a current ratio of 1.18, a quick ratio of 1.15 and a debt-to-equity ratio of 0.30.

Read Our Latest Research Report on NSIT

PENN Entertainment (PENN)

PENN Entertainment, Inc., together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L’Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.

PENN traded up $0.24 during trading on Friday, reaching $15.53. The company had a trading volume of 1,001,583 shares, compared to its average volume of 4,271,055. The firm’s 50-day simple moving average is $16.05 and its 200 day simple moving average is $18.80. PENN Entertainment has a 12-month low of $13.25 and a 12-month high of $23.08. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $2.34 billion, a price-to-earnings ratio of -4.37, a PEG ratio of 1.55 and a beta of 1.81.

Read Our Latest Research Report on PENN

Sphere Entertainment (SPHR)

Sphere Entertainment Co. engages in the entertainment business. It produces, presents, or hosts various live entertainment events, including concerts, family shows, and special events, as well as sporting events, such as professional boxing, college basketball and hockey, professional bull riding, mixed martial arts, and esports and wrestling in its venues, including The Garden, Hulu Theater, Radio City Music Hall, and the Beacon Theatre in New York City; and The Chicago Theatre.

Shares of Sphere Entertainment stock traded up $1.53 during trading on Friday, hitting $33.11. 372,141 shares of the stock traded hands, compared to its average volume of 818,142. Sphere Entertainment has a twelve month low of $23.89 and a twelve month high of $50.88. The company has a fifty day moving average price of $30.07 and a two-hundred day moving average price of $38.07. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $1.19 billion, a P/E ratio of -3.15 and a beta of 1.51.

Read Our Latest Research Report on SPHR

Madison Square Garden Sports (MSGS)

Madison Square Garden Sports Corp. operates as a professional sports company in the United States. The company owns and operates a portfolio of assets that consists of the New York Knickerbockers of the National Basketball Association (NBA) and the New York Rangers of the National Hockey League. Its other professional franchises include development league teams, the Hartford Wolf Pack of the American Hockey League and the Westchester Knicks of the NBA G League.

Shares of NYSE:MSGS traded up $1.49 during midday trading on Friday, hitting $192.40. The company’s stock had a trading volume of 31,088 shares, compared to its average volume of 113,059. The stock’s 50 day simple moving average is $191.41 and its 200 day simple moving average is $209.93. Madison Square Garden Sports has a fifty-two week low of $173.26 and a fifty-two week high of $237.99. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 81.18 and a beta of 0.78.

Read Our Latest Research Report on MSGS

Allied Gaming & Entertainment (AGAE)

Allied Gaming & Entertainment, Inc. operates as an experiential entertainment company, which engages in the creation of esports venues and live events for both video games and poker. The company was founded in 2017 and is headquartered in New York, NY.

AGAE traded up $0.15 during midday trading on Friday, reaching $1.48. 139,727 shares of the company’s stock were exchanged, compared to its average volume of 53,699. Allied Gaming & Entertainment has a one year low of $0.61 and a one year high of $1.57. The business has a 50-day simple moving average of $1.07 and a two-hundred day simple moving average of $1.03. The firm has a market capitalization of $65.28 million, a price-to-earnings ratio of -5.48 and a beta of 1.32.

Read Our Latest Research Report on AGAE

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Technological advances on exhibit at iScene

CAUAYAN CITY — A wide range of activities, including talks on the application of artificial intelligence (AI) in disaster management, smart cities and communities, and in mobility and smart transportation, has been the focus in the three-day 3rd International Smart City Exposition and Networking Engagement (iScene) at the Isabela Convention Center in this city. The […]

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CAUAYAN CITY — A wide range of activities, including talks on the application of artificial intelligence (AI) in disaster management, smart cities and communities, and in mobility and smart transportation, has been the focus in the three-day 3rd International Smart City Exposition and Networking Engagement (iScene) at the Isabela Convention Center in this city.

The event started on Thursday, May 22 and will end on Saturday, May 24.

WATER QUALITY MONITORING TOOL An exhibitor explains the prototype of their research and development project dubbed as a Lorawan-based pond water quality control and monitoring system for shrimp farms in one of the exhibits at the start of the three-day 3rd International Smart City Exposition and Networking Engagement (iScene) at the Isabela Convention Center in Cauayan City on May 22, 2025. PHOTO BY VINCE JACOB VISAYA

WATER QUALITY MONITORING TOOL An exhibitor explains the prototype of their research and development project dubbed as a Lorawan-based pond water quality control and monitoring system for shrimp farms in one of the exhibits at the start of the three-day 3rd International Smart City Exposition and Networking Engagement (iScene) at the Isabela Convention Center in Cauayan City on May 22, 2025. PHOTO BY VINCE JACOB VISAYA

The conference serves as a platform to discuss details and commitment for possible transfer of technologies and commercialization, aside from having exhibits on artificial intelligence, robotics, among other innovations such as startup and cutting-edge advancements in water management, textiles, smart agriculture, and circular economy.

Among those showcased in the exhibits are the electromobility research and development which aims to achieve greening of the transport industry, the Lorawan-based pond water quality control and monitoring system for shrimp farms, the heat-assisted temperature control and monitoring system for hatchery management of milkfish, agricultural-robot-Tomasino innovation system, S&T-based approach for sustainable management of reservoirs and river basins.

Also being exhibited are forest products research and development e-library, smart water control infrastructure for effective irrigation management, GIS-based decision support tool, and integrated flood and water resources management in Asean basins for sustainable development.

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The Department of Science and Technology (DOST), in partnership with the local government unit of Cauayan City and Isabela State University (ISU), focused on the theme “Empowering Smart and Sustainable Communities through Government-Academe-Industry Collaboration” for the event.

Mayor Ceasar Dy Jr. said the city, which has been designated as the first smart city in the Philippines, has implemented various digital solutions to improve network and services such as the installment of free Wi-Fi in its 65 barangay.

“We have been the first Smart City, and we focus on innovations to help other local government units to adopt smart technologies and eventually we got partners at the international level,” he added.

Among the side events include Philippine Smart and Sustainable Cities Awards, the Mobile Command and Control Vehicle (Moccov) Operations Olympics, E-Sports tournament, and the Hackathon.

“The conference has been aiming to transform communities through active citizen-engagement, and to further promote the Smarter Philippines mission,” said Undersecretary Sancho Mabborang during the event.

“For the past two years, the iScene has become an opportunity to bring together government agencies, academe, industry players, and international partners for collaboration and knowledge-sharing to achieve smart, resilient, and sustainable communities,” he added.

The DOST Regional Office 2 also inked memoranda of partnerships with various government agencies, and academic institutions such as the Department of Human Settlement and Urban Development (DHSUD) Region 2, Commission on Higher Education (CHED), Philippine Chamber of Commerce and Industry (PCCI), Isabela State University (ISU), King Mongkut’s Institute of Technology Ladkrabang (KMITL) in Thailand and the Cauayan City local government unit.



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How Fan Engagement Is Evolving with Tech

In Japan, sports have long been tied to ritual, community, and tradition—from sumo stables to packed J.League stadiums. Today’s fans expect much more than just attending a match. They demand participation, interaction, access, backend glimpses, and real-time insights into the event. Digitalization of the sports industry is changing the traditional ways of defining fan engagement.   […]

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In Japan, sports have long been tied to ritual, community, and tradition—from sumo stables to packed J.League stadiums. Today’s fans expect much more than just attending a match. They demand participation, interaction, access, backend glimpses, and real-time insights into the event. Digitalization of the sports industry is changing the traditional ways of defining fan engagement.  

 Due to technology, not only the broadcasting of games, but also how players, teams, and even other spectators interact, is experiencing a shift. The smartphone, social media, and even the internet have turned into hubs of spending spare time, and the sports industry is investing in immersive apps that take the audience as close to the action as possible.

Interactive Viewing and Second-Screen Experiences

The rise of second-screen culture—where fans engage with content on phones or tablets while watching a game—has dramatically reshaped live sports. Broadcasters and clubs are now enhancing match feeds with live stats, polls, and fan chats. This multilayered experience is designed to deepen emotional connection while extending the time fans spend interacting with their brand. Innovations related to sports betting online, integrated into match-day dashboards, often mirror the same real-time responsiveness expected by modern viewers.

Japan has begun integrating fan voting during live contests, augmented reality replays, and changing commentary audio streams for companion apps within its professional baseball and soccer leagues. For example, NHK and DAZN Japan offer multi-angle viewing and a strategy breakdown offering. Transforming from a passive observer to an active participant is most remarkable in the case of sports technology.

Key Technologies Driving Engagement

As platforms and franchises strive to maintain engagement amidst growing competition, they are adopting new technology. Perpetual engagement and fandom retention are not, and never have been, new concepts. Remember that as we go over the list.

Important developing technologies altering fan interaction:

  • Augmented Reality (AR): Used in stadiums and mobile apps to display stats or player animations
  • Virtual Reality (VR): Allows users to “attend” matches through headsets from the comfort of their home.
  • NFTs and Digital Collectibles: Grant fans one-of-a-kind assets that are bonded to their favorite teams
  • Gamification: Encourages sustained engagement by embedding trivia, forecasts, and other forms of challenges into apps
  • AI-Powered Chatbots: give fans instant messaging updates and tailored information using chat applications

Focusing on Japan’s metropolitan areas, where users depend on mobile devices for information and leisure, these tools are extremely pertinent. The combination of entertainment with gaming, as well as sports, is a reasonable progression.

The Role of Social Platforms and User-Generated Content

On TikTok and X (previously Twitter), the content created by ‘normal’ users is being compared to gameday highlights, reactions, and analyses provided by official accounts as they draw similar amounts of attention. In response to this, Japanese teams have changed their policy to simple creation response via a branded hashtag, retweets, and even contests for branded viral content.  

Notable esports leagues based in Tokyo offer regular fan shoutouts and also allow active followers to vote on various aspects of the games like team kits and some rules of engagement. These forms of participation, however minimal, support a never-ending exchange between the fans and the organizers. This phenomenon has shifted to be essential to modern fan loyalty.  

The effect of gamified design is more noticeable because of online casino slots. Trivia games with ‘spin to win’ mechanics or locked content are commonplace within mobile apps, gaining popularity among beginners which keeps them engaged long after the game is over. These systems encourage a seamless and addictive pattern idealized for daily competition among friends to gain the upper hand, similar to mobile games.

Case Study: J.League’s Fan-Centric Innovations

The J.League has led in connecting with fans digitally across Asia. In 2023 it joined forces with Yahoo Japan and Rakuten to implement a new system where fans can choose “Player of the Match” in real-time during the matches. Votes affect social media activity, discounts on merchandise, and several other engagements including meet-and-greets.

In a separate pilot program, fans wearing smartbands were able to receive haptic feedback synced with game events—buzzes and vibrations that mirrored a goal, a red card, or a substitution. The aim was to make fans feel connected to the action even if they weren’t physically in the stadium.

This model aligns with Japan’s larger smart city ambitions, where personalized digital experiences are integrated across services, from sports to public transit.

Fan Data and Personalized Experiences

All of the novel forms of engagement are collecting unprecedented volumes of information regarding fan behaviors. Currently, AI systems are evaluating this information to generate custom content proposals, bespoke merchandise recommendations, or adjust application features to the user’s behavioral routines. In Japan, where the culture emphasizes meticulousness, data-driven engagement is fostered and deeply effective.  

Used by teams in Tokyo, SmartVenue and FanWise possess agile analytic features that segment fans into various activity levels, purchase history brackets, and content preferences. Teams can then deliver targeted notifications, such as birthday discounts, favorite player stats, or live alerts for local games.

As a result, each individual feels appreciated. Now it’s not about the largest crowd, but the most active crowd. It’s not about having the biggest crowd anymore—it’s about having the most engaged one.

Table: Evolution of Fan Engagement Technology

Era Key Tools & Methods Fan Experience Impact
Pre-2010 Traditional broadcast, physical merch Passive viewing, limited feedback
2010–2020 Mobile apps, social media Multi-screen interaction, online communities
2020–Present AR/VR, AI, NFTs, smart wearables Real-time feedback, personalized engagement

What’s Next for Japanese Sports Fans?

The growth of esports in Japan, along with its participation in international tournaments, signals a tech-enabled evolution in fan engagement. Once complete, 5G networks and AI technologies will deliver even more features to fans, including real-time immersion and interactivity.

In-stadium facial recognition systems could streamline access and concessions, while virtual commentators may adjust their style at home based on identified fan preferences. This is not science fiction; it is in progress through joint ventures between Japan’s sports federations and private innovators.

Shifts in culture are also changing the way sports and entertainment are consumed. Fans will engage with the brand far less through the game, but rather through their lives Woven with the digital matrix of existence.





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Inside XbotGo’s NYC Showcase That Unveiled the Future of AI Sports Filming

What happens when one of the most talked-about names in sports tech brings its latest innovations to the heart of Manhattan? On April 18th, XbotGo answered that question with an exclusive live event at 135 Madison Avenue in New York City — unveiling major software upgrades to its flagship product, the XbotGo Chameleon, and offering […]

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What happens when one of the most talked-about names in sports tech brings its latest innovations to the heart of Manhattan? On April 18th, XbotGo answered that question with an exclusive live event at 135 Madison Avenue in New York City — unveiling major software upgrades to its flagship product, the XbotGo Chameleon, and offering a rare, hands-on look into the future of automated sports content creation.

The four-hour event drew athletes, coaches, tech creators, youth program directors, and even high school students, all curious to see how XbotGo democratizes high-end sports filming. It wasn’t just a product demo — it was a showcase of how AI and sports are merging to empower teams and individuals in ways that were previously out of reach.

A Leap Forward in AI Sports Capture

At the core of the event was the debut of XbotGo’s newest software upgrade — a feature-packed update that takes the already impressive Chameleon system to the next level. The upgrade introduced faster player tracking, improved jersey number recognition, real-time scoreboard overlays via ScoreSync, and upgraded video editing AI that turns raw footage into social-ready content in minutes.

XbotGo Chameleon

Basketball teams especially benefited from a new sport-specific algorithm that refines how the camera follows plays and isolates key moments. Attendees watched in real time as the system tracked players with 95% accuracy, panned smoothly across the court, and immediately tagged jersey numbers to auto-generate personalized highlights.

For teams lacking the resources to hire full-time videographers or editors, the implications were clear: this technology levels the playing field.

Behind the Scenes with the Visionaries

XbotGo Founder and CEO David opened the event with a keynote outlining the company’s journey—from early Kickstarter roots to national expansion—and the role customer feedback has played in shaping every update. He emphasized the mission behind the tech: giving more athletes and teams the power to control their own media presence, improve their performance, and share their stories with the world.

In a Q&A session, David fielded questions from athletes, coaches, and even content creators curious about integration with Apple Watch, the newly enhanced FollowMe Mode, and upcoming support for portrait video — a key request for TikTok and Instagram content.

David
David Tan, Founder & CEO, XbotGo

Stories from the Field

Throughout the afternoon, guests heard from actual users who brought the Chameleon into their training sessions, scrimmages, and tournaments. One youth basketball coach explained how he used the jersey tracking to build highlight reels for every player on his team—footage they later used in college recruitment outreach. A parent showed off a video of her daughter’s soccer goal captured in full 4K from a game she filmed solo, without touching the camera once.

These personal stories reinforced what the specs already showed: this isn’t just gear for elite athletes — it’s built for real people, real games, and real growth.

Immersive Demos, Exclusive Swag, and Community Vibes

XbotGo engineers guided small groups through interactive demos where guests tested the 120° field of view, 360° panoramic tracking, and T4 Tripod’s towering 13-foot height adjustment. Paired with Bluetooth remote control and Apple Watch syncing, the system proved how easy it was to go from setup to capture in under one minute.

Everyone left with limited-edition XbotGo merch, including a branded hoodie, cap, and microfiber towel. But more than the swag, the lasting impression was one of connection — between players and tech, creators and tools, and a growing community that wants to take game-day media into its own hands.

What’s Next for XbotGo

With more updates scheduled for late 2025, including portrait capture mode, multi-angle syncing, and AI commentary overlays, the NYC event was more than a celebration — it was a preview of a movement. XbotGo is positioning itself not only as a product brand but as an infrastructure for the future of sports storytelling.

Whether you’re a coach breaking down tape, a parent capturing milestone moments, or a creator building your sports channel, XbotGo Chameleon promises to turn your smartphone into a production studio — and your game into the show it deserves to be.

Learn more about the technology, watch sample footage, or order your system here.

Peter Salib is a Tech Columnist at Grit Daily. Based in New Jersey, he is an avid participant of events nationwide who’s attended CES in Las Vegas consecutively since 2013. Peter is the host and producer of Show & Tell, a product showcase YouTube channel and also works at Gadget Flow, a leading product discovery platform reaching 31M consumers every month. Peter frequently works with startups on media, content writing, events, and sales. His dog, Scruffy, was a guest product model on the Today Show with Kathy Lee & Hoda in 2018 and was dubbed “Scruffy the Wonder Dog.”



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Disney is suing YouTube for poaching a key media and sports executive

Critically, Connolly leads the Disney team negotiating a license renewal with YouTube. Connolly has intimate knowledge of Disney’s other distribution deals, the financial details concerning Disney’s content being licensed to YouTube, and Disney’s negotiation strategies, both in general and in particular with respect to YouTube. It would be extremely prejudicial to Disney for Connolly to […]

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Critically, Connolly leads the Disney team negotiating a license renewal with YouTube. Connolly has intimate knowledge of Disney’s other distribution deals, the financial details concerning Disney’s content being licensed to YouTube, and Disney’s negotiation strategies, both in general and in particular with respect to YouTube. It would be extremely prejudicial to Disney for Connolly to breach the contract which he negotiated just a few months ago and switch teams when Disney is working on a new licensing deal with the company that is trying to poach him.



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The Sports Facilities Companies Expands Ice Portfolio with 13 New Ice Properties and Two Community Centers

SFC assumes management of 15 facilities in 11 states through agreement with Rink Management Services CLEARWATER, Fla., May 22, 2025 /PRNewswire/ — The Sports Facilities Companies (SFC), the nation’s leading manager of sports, recreation, and event venues, has expanded its ice rink portfolio by assuming management of 13 ice rinks across 11 states, plus two […]

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SFC assumes management of 15 facilities in 11 states through agreement with Rink Management Services

CLEARWATER, Fla., May 22, 2025 /PRNewswire/ — The Sports Facilities Companies (SFC), the nation’s leading manager of sports, recreation, and event venues, has expanded its ice rink portfolio by assuming management of 13 ice rinks across 11 states, plus two additional community centers. The facilities, previously operated by Rink Management Services (RMS), will now benefit from SFC’s expertise in operations, programming, and community engagement. Through the agreement, RMS operational leadership and staff will transition into the SFC network, enhancing its capacity to manage and elevate ice rinks nationwide.

“SFC continues to expand our presence as a leader in ice rink management, and this is an exciting step in that journey,” said Jason Clement, CEO of The Sports Facilities Companies. “RMS has built a strong footprint in the industry, and by integrating their experience with our proven approach to operations and community service, we are enhancing our ability to deliver exceptional outcomes for athletes, guests, and the communities we serve.”

Under the leadership of President Tom Hillgrove, RMS will maintain a small portfolio of leased agreements while SFC assumes management of the acquired facilities. Moving forward, the two companies will collaborate on strategic opportunities.

“We are excited to see these facilities transition to SFC, a company with a proven track record of success in community-focused facility management,” Hillgrove said. “RMS will continue to operate independently with our leased agreements while working alongside SFC to further strengthen the ice rink industry.”

SFC’s expanded portfolio of ice facilities and community centers now includes the following facilities:

  • Bryant Park Winter Village Ice Rink – New York, N.Y.
     
  • Lloyd Center Ice Rink – Portland, Ore.
     
  • Metro Park Toledo Glass City Ice & Roller Toledo, Ohio
     
  • Wichita Ice Center – Wichita, Kan.
     
  • Parks Mall at Arlington – Arlington, Texas
     
  • Ice Skate USA Memorial City Houston, Texas
     
  • Ice in Paradise – Goleta, Calif.
     
  • Breslow Ice Hockey Center – Lincoln, Neb.
     
  • Waconia Ice Arena – Waconia, Minn.
     
  • Industry City Ice Rink – New York, N.Y.
     
  • Elevance Health Rink at Bicentennial Plaza – Indianapolis, Ind.
     
  • Washington Harbour Ice Rink Washington, D.C.
     
  • McCormick Tribune Ice Rink – Chicago, Ill.

As part of the deal, SFC will also take over management of multiple non-ice facilities, including the Romulus Athletic Center in Romulus, Michigan, and the Safari Island Community Center in Waconia, Minnesota.

“We are thrilled to bring these facilities into the SFC family and continue our momentum as a leader in ice rink management,” said Kelly Kryukov, senior vice president of ice venue operations at The Sports Facilities Companies. “Ice rinks serve as vital community hubs—whether it’s for youth hockey, figure skating, or public skating sessions. Our focus is on elevating these venues by enhancing programming, improving operational efficiency, and ensuring they remain accessible and welcoming spaces for all athletes and families.”

With this expansion, SFC now manages 20 ice rinks nationwide including two large multi-sport venues featuring ice surfaces and two rinks in New York City. For more information about ice rink operations at The Sports Facilities Companies, visit icerinks.com.

About The Sports Facilities Companies

The Sports Facilities Companies (SFC) is the nation’s leading resource for the management and development of sports, recreation, wellness, and events facilities. As a turn-key solution for community leaders and developers alike, SFC services span the gamut of sports and recreation needs from sports tourism & recreation master planning, program planning, and feasibility through professional facility management services. With over 90 managed venues and approximately 4,000 team members, represented by the SF Network, SFC welcomes nearly 30 million guest visits and produces almost $1 billion in economic impact each year. To learn more, please visit SportsFacilities.com and theSFnetwork.com.

Press Contact:

Ashley Whittaker
7274743845
http://sportsfacilities.com

SOURCE The Sports Facilities Companies



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Blackbird backs Airwallex to fix its ‘most expensive’ mistake — Capital Brief

Australia’s largest venture capital firm has conceded that its investment in Airwallex’s US$300 million ($465 million) Series F round is a correction of a nine-year-old misstep. Blackbird passed on the Victorian startup in 2016, forcing Airwallex to turn to overseas investors for its first funding round. Blackbird doesn’t want to miss out again, tipping into […]

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Australia’s largest venture capital firm has conceded that its investment in Airwallex’s US$300 million ($465 million) Series F round is a correction of a nine-year-old misstep.

Blackbird passed on the Victorian startup in 2016, forcing Airwallex to turn to overseas investors for its first funding round. Blackbird doesn’t want to miss out again, tipping into a pre-IPO capital raise that valued Airwallex at US$6.2 billion.

“We absolutely made a mistake not investing earlier,” said Blackbird partner Michael Tolo. “And it’s the most expensive one that we have made at Blackbird!”

“As in life, it’s less about the mistakes that you make and more about what you do to correct them. This round presented a rare moment for us to correct our previous mistakes and partner with one of the generational Australian companies.”



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