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Federated Sports Raises $1M from Share Offering - cbl
Posted July 13, 2011
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Jeffrey Pollack
By Bill Murphy
D.C. -- Federated Sports + Gaming Inc. has raised $1 million of a $2.5 million share offering, from a single investor.
Principals named in the filing by the Washington-based gaming company are:
· Chairman Jeffrey Pollack;
· Co-CEO Michael Brodsky;
· Co-CEO David Goldberg; and
· Director J.B. Pritzker
Most recently, Pollack was the president and commissioner of the World Series of Poker. Before that, he was managing director of broadcasting and new media for NASCAR Digital Entertainment and directed all of NASCAR's business development related to the Internet, interactive television and other digital platforms. He also served as vice president of Marketing and Corporate Communications for the National Basketball Association, managing the league's global branding, marketing and promotional strategies.
Federated Sports, founded in 2010, develops sports and gaming brands by integrating traditional and digital media. Its first initiative was a live professional poker league. It plans to deliver content across multiple platforms, including live and televised events, social media platforms and interactive digital programming.
Reg D filing: http://tinyurl.com/5tggwv8
Bios from Federate site:
David Goldberg
Co-Chief Executive Officer
With a long and respected reputation in the sports and entertainment industries, founding member of Federated Sports + Gaming David Goldberg is renowned for effective strategic planning and driving new growth initiatives.
As the recent President and CEO of Youbet.com (NASDAQ-UBET) - the largest, independent legal online gaming site in the U.S. - David helped take the company in less than two years from a market cap of just over $26 million to its eventual sale to Churchill Downs Inc. (NASDAQ-CHDN) for more than $127 million.
He took over the reins of Youbet.com from Michael Brodsky in June 2009, after having served as COO. As a key member of the management team, he was directly responsible for helping continue the movement of Youbet into a profitable e-commerce company while also vastly improving the operations at United Tote - a subsidiary company (now part of Churchill Downs, Inc.) that designs manufactures and operates pari-mutuel wagering systems for more than 150 racing companies and numerous OTB facilities in North America and around the world.
Prior to joining Youbet.com, David was Executive Vice President of Ticketmaster (an operating business of IAC - NASDAQ - IACI), and one of just three executives charged with overall management and leadership of the business through the Office of the CEO. During his tenure at Ticketmaster he oversaw a number of major business divisions. These include Global Mergers and Acquisitions, where he was responsible for the investment of over $100 million on four continents, Business Development, Sales and Marketing and Ticketmaster's music industry vertical, the company's largest business segment bringing in 50% of the company's revenue. As head of Strategy he led initiatives that doubled EBITDA from approximately $130 million to $260 million in four years.
Before Ticketmaster, David helped start two venture backed companies: Tunes.com, operator of RollingStone.com and other music destination websites (sold to Emusic for $144 million) and SportVision, a sports technology and marketing company - most noted for creating the yellow "First and Ten" line and other sports-related broadcast television enhancements - where he served as Executive Vice President of Corporate Development.
David received his B.A. from Northwestern University and an M.B.A. from the University of Chicago's Booth School of Business.
He currently serves as Chairman of the Board of Pacific Edison, a solar project developer focused on entertainment venues and attractions and on the board of Bright Tag Inc.
Michael Brodsky
Co-Chief Executive Officer
A veteran entrepreneur, executive and investor in internet e-commerce, on-line media and software firms with more than 15 years' experience, founding member of Federated Sports + Gaming Michael Brodsky enjoys a hard-earned reputation as a pioneer in the interactive technology space.
The former Executive Chairman of Youbet.com, Inc. (NASDAQ-UBET), Michael presided over the successful sale of the company to Churchill Downs Incorporated (NASDAQ- CHDN) in June 2010, subsequently being elected to the Churchill Downs Board of Directors.
Prior to assuming the Chairmanship, he was a Youbet.com Director before being named President and CEO. His tenure oversaw the company's restructuring and realignment toward performance-driven metrics, a repositioning that built Youbet.com into the largest independent e-commerce business in legal online wagering in the United States.
Coming into the role when Youbet had a market capitalization of $26 million and a de-listing notice from NASDAQ, Michael's mandate to turn the company around and return it to profitability started with the recruitment of a hand-selected management team and rebuilding industry relationships. His strategy to refocus the company around its core online business was validated by the marketplace by inclusion in the Russell 2000 index, and ultimately through the Churchill Downs acquisition for approximately $127 million within eighteen months of becoming CEO.
Previously, Michael was Managing Partner at New World Opportunity Partners (NWOP), the public investment arm of the Chicago-based Pritzker family. Prior to NWOP, he was the Chief Financial Officer of The Away Network, an online travel media company that owned and managed a number of sites including Away.com, OutsideOnline.com and GORP.com. In 2005, Orbitz.com and Cendant Corporation acquired Away, where he then served as Vice President of Finance in Cendant's Travel Distribution Services Division.
Michael holds a B.A. from Syracuse University, a J.D. from the Northwestern University School of Law and an M.B.A. from Northwestern University's JL Kellogg Graduate School of Management.
Along with his seat on the Churchill Downs Board, he is also on the Board of Directors of Selectica, Inc. (NASDQ-SLCT), one of the leaders in contract management and configuration software.
In 2009, while Michael was Executive Chairman of Youbet.com he participated in the current effort to legalize online gaming.
J. B. Pritzker
Director
Throughout his business, philanthropic and political involvement, Jay Robert (J.B.) Pritzker, has built a reputation as a strong leader, an innovative entrepreneur and a champion of charitable causes.
J.B. Pritzker was born January 19, 1965, in Northern California. He attended Duke University where he earned an A.B. in political science. He later earned his law degree from Northwestern University School of Law.
His businesses include New World Ventures - a venture capital firm - and The Pritzker Group - a private investment firm. He is also a principal owner of Hyatt Hotels Corporation and TransUnion Corporation.
As president of the Pritzker Family Foundation, he established the Children's Initiative, which funds programs for children in underserved communities. He also helped create the Pritzker Consortium on Early Childhood Development at the University of Chicago.
As chairman of the Illinois Holocaust Museum & Education Center, Pritzker successfully led the effort to build a world-class international institution in the Midwest dedicated to teaching the lessons of the Holocaust and other genocides. A committed advocate for human and civil rights, he is the principal funder of the Cambodia Tribunal Monitor, the most significant online source for news and commentaries regarding the international criminal tribunal created to bring to justice the perpetrators of Pol Pot era acts of genocide.
J.B. Pritzker is also an active civic leader and engaged board member of several cultural, educational and business organizations locally, regionally and nationally.
He lives in Chicago, Illinois, with his wife, M.K., and two children.
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