CEO Caroline Beasley says the sports betting category has and continues to grow into a very meaningful category for the company. Sports betting was the second largest category for the company in Q3, growing 228% year over year and represented $4.3 million or 7.2% of total revenue in the quarter.
The money in that category is coming from the Philadelphia, Detroit and New Jersey markets. And, Massachusetts and Florida are in the process of legalizing sports betting. The company also has clusters of stations in both of those states.
