F1 Acquires Stake In PlayON

Formula One has today acquired a stake in PlayON, a sports entertainment company valued at £30m (€34.3m).

As part of the deal, PlayON now becomes F1’s official fantasy gaming partner

The partnership will allow Formula 1 to make a significant investment in fantasy sports and reach a wider and younger audience, whilst providing PlayON with access to millions of car racing fans around the world.

Frank Arthofer, Head of Digital and New Business at Formula 1, said: “Formula 1 is continuously looking for ways to engage with new audiences, particularly in the digital space. Fantasy Sports is an exciting industry and offers us the opportunity to engage with a young and vibrant fan base.

“We believe in PlayON, its product, leadership, and its strict approach to regulation, only operating real-money games in territories that have a clearly established regulatory framework in place: this enables F1 to enter the daily fantasy market without concern over legality. We believe PlayON’s approach is the right one for long-term success in the industry.”

Killian Jones, Founder and CEO at PlayON, said: “PlayON is pleased to be entering this partnership with Formula 1 – the global appeal of Formula 1 makes it an ideal strategic partner. A key aspect of the deal relates to the live Formula 1 races being present on the PlayON platform. The combination of live sport and PlayON’s daily fantasy games will provide a fully immersive entertainment experience to our customers around the world.”