Sports-betting platform provider Sportradar files to go public


Sportradar Group AG said it plans to have its stock trade in U.S. markets, according to a late Tuesday filing with the Securities and Exchange Commission. The Switzerland-based company said it plans to raise $100 million, although that amount is generally used as a placeholder and revised in subsequent filings. J.P. Morgan, Morgan Stanley, Citigroup, and UBS are listed among the underwriters. Sportradar intends to have its shares trade under the ticker “SRAD” on the Nasdaq. Sportradar provides a business-to-business platform to the sports betting industry with software, data and content on a subscription basis and has revenue sharing agreements with sports leagues, betting operators, and media companies, the company said. Sportradar reported revenue of 404.9 million euro and a profit of 18 million euro in 2020, compared with 380.4 million euro and a profit of 9.9 million euro in 2019.


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