Gaming License Subleasing

Sam describes building a gaming technology platform that obtained market access through subleasing licenses from brick-and-mortar casinos, ultimately selling to FuboTV for $40M before launch.

Key Points:

• Market Evolution Strategy:

  • Identified early players would be DraftKings and FanDuel
  • Predicted market would be dominated by brick-and-mortar casinos or media companies
  • Recognized existing technology was outdated (built overseas in early 2000s)

• Competitive Advantage:

  • Built modern mobile-first platform with API functionality
  • Obtained market access through regulatory compliance in 17+ states
  • Secured deals as authorized gaming operator with NBA and MLB
  • Created platform that could handle ticketing, merchandising, and other features

• Go-to-Market Strategy:

  • Instead of raising $100M+ for user acquisition
  • Targeted companies with existing audiences in sports
  • Positioned as alternative to expensive overseas white-label solutions
  • Offered more flexible, targeted market access (specific zip codes vs. nationwide)

• Exit Strategy:

  • Identified FuboTV as potential buyer after their public filing showed gaming ambitions
  • Sold pre-launch for $40M
  • Provided FuboTV immediate gaming market access and modern technology platform

The success came from identifying the pain points in the existing market (outdated technology, expensive licensing) and building a modern solution that could be acquired by a larger player needing immediate market access.