Boom Entertainment announces additional $15 million funding round through Sands Capital

Boom Entertainment Announces Additional Funding Round For Real Money Slots Development

Golden Nugget Online Gaming (GNOG) and Rush Street Interactive (RSI) – known for its BetRivers app – will be among the online casino operators to receive the first real-money iGaming titles that Boom Entertainment creates.

Boom CEO Steve Murphy told Online Poker Report yesterday about some of his company’s real-money online gaming product development plans. Those plans will be fueled by its recent investors, who include GNOG and RSI themselves. Boom announced a further $15 million round of funding this week, through Sands Capital.

Murphy told OPR:

“Boom plans to launch up to 20 casino games by the end of Q1 2022.”

This latest funding round Boom is what will enable Boom to enter the real-money US online casino and online sports betting game creation space, according to Boom’s press release. The funding will also enable Boom to acquire talent and intellectual property.

At the moment, 3 million users of Boom products identify the company with NBC Sports Predictor, Tim Hortons NHL Hockey Challenge, PlayBarstool, NASCAR Jackpot Races, MSGN Pick’em, YES Pick N’ Play and Chirp Golf.

Boom Entertainment creating online casino, then sports titles

Perhaps because online casino players generate more revenue than online sports bettors, Boom will be working on its iGaming line of products first. The fact that Boom already has agreements in place with GNOG and RSI to supply the games may also be making it a priority.

Yesterday’s Boom announcement said:

“The company will unveil its first wave of casino games to select partners in the coming months, and will launch its proprietary sports betting games and product offerings to partners shortly thereafter.”

That’s counter to the way in which legal online wagering is expanding across the US. There are 22 jurisdictions with legal online sportsbooks, but only four states with a competitive online casino market. Connecticut is about to launch one to make it five, while Michigan, New Jersey, Pennsylvania and West Virginia are currently offering iGaming. (Delaware has online casinos too, but operated as a monopoly by the lottery in partnership with 888 Holdings).

Boom Entertainment is serious about online casino

Based on Boom’s leadership and product team alone, the iGaming reverence is evident.

Before co-founding Boom in 2015, Murphy served as the vice president of business development with High 5 Games. That company is practically synonymous with free-to-play online slots.

Boom President and CTO Med Nadooshan was High 5’s COO and CTO.

In the Aug. 26 Boom press release titled Boom Entertainment Bolsters Real-Money Games Division with New VP of Creative, Boom announced hiring Joseph Masci. He “was most recently a principal director of creative at Aristocrat. He was previously chief creative officer of Gimmie Games, which Aristocrat acquired in 2018, and founding creative director of High 5 Games.”

That Boom announcement concludes:

“Mr. Masci joins a stacked team of real-money veterans, including VP of Product Thom Ang, GM of Casino Content Deanna Ishikawa, and GM of Sports Betting Products Chris Fargis.”

- Heather Fletcher is the lead writer with OnlinePokerReport. She's a career journalist, with bylines in The New York Times, Adweek and other publications. Reach her at [email protected]
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