Professional
Added to YB: 2026-04-27
Pitch date: 2026-04-22
SRAD [bearish]
Sportradar Group AG
-2.78%
current return
Author Info
No bio for this author
Company Info
Sportradar Group AG, together with its subsidiaries, provides sports data services for the sports betting and media industries in Switzerland, the United States, North America, Africa, Malta, the Asia Pacific, the Middle East, Europe, Latin America, and the Caribbean.
Market Cap
$3.5B
Pitch Price
$12.93
Price Target
3.87 (-71%)
Dividend
N/A
EV/EBITDA
7.66
P/E
35.42
EV/Sales
2.45
Sector
Hotels, Restaurants and Leisure
Category
special_situation
Sportradar Group AG: the “integrity” giant threatening its own existence with ties to illegal gambling, sanctioned parties and criminals
SRAD (short): Sportradar claims to fight illegal gambling but serves 270+ illegal platforms (~30-40% of rev per ex-employees), including 1xBet (world's largest illegal operator), Russian fugitives, OFAC-sanctioned parties, match-fixers. CEO Koerl owns stake in BetGames serving illegal casinos despite 'integrity' branding. 3 US regulators reviewing. Risk: lose EU/US licenses or surrender illegal rev. Trades 1.5-2x EV/rev vs GENI despite slower growth (17% vs 31%). Estimate 30-70%+ downside if forced to exit black market or lose licenses.
Read full article (33 min)