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Tencent's US$100m Buy into India's Dream II Fantasy Sports: A Bet on Sports Betting's Future?

Equity Analyst, LightStream Research

Supun Walpola

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Thematic (Sector/Industry)

India Consumer discretionary / Thematic (Sector/Industry)

<ul><li>Last week, an <a href="https://www.bloomberg.com/news/articles/2020-04-15/alibaba-tencent-try-to-cash-in-with-a-billion-plus-cricket-fans" target="_blank" rel="noopener">article</a> on Bloomberg suggested that the likes of <a href="https://www.smartkarma.com/entities/alibaba-group-holding-ltd" target="_blank" data-smartkarma-citation="entities:787:1" rel="noopener">Alibaba Group (BABA US)</a> and <a href="https://www.smartkarma.com/entities/tencent-holdings-ltd" target="_blank" data-smartkarma-citation="entities:26:1" rel="noopener">Tencent Holdings (700 HK)</a> are pouring cash into India’s mobile gaming industry, more specifically, into fantasy cricket and card games that exploit the country’s gambling loopholes.<strong> </strong>
</li></ul><ul><li>While the main focus of the article was on India’s mobile gaming market, the article also touched on one of the most overlooked investment themes in the region – “Cricket in India”.</li></ul>

Last week, an article on Bloomberg suggested that the likes of Alibaba Group (BABA US) and Tencent Holdings (700 HK) are pouring cash into India’s mobile gaming industry, more specifically, into fantasy cricket and card games that exploit the country’s gambling loopholes. 
While the main focus of the article was on India’s mobile gaming market, the article also touched on one of the most overlooked investment themes in the region – “Cricket in India”.

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