Titans

When legalized sports betting is scheduled to go live in Tennessee on Nov. 1, in-state gamblers will have four sports books to choose from.

Three of them — DraftKings, FanDuel and BetMGM — are well-known industry players. The fourth, Tennessee Action 24/7, is an upstart with ties to Tennessee business.

As noted by the Tennessee Journal, Tennessee Action 24/7 is led by executives from Nashville-based payday loan provider Advance Financial. According to Securities and Exchange Commission filings, Advance Financial CFO Patrick Conroy and Andrew Jacks, a former senior director at Advance, are executive officers for Tennessee Action 24/7. Advance Financial President and CEO Tina Hodges is also listed as a director of Tennessee Action 24/7.

An Advance Financial spokesperson said the sports betting operation was “a separate and new business venture.” Hodges did not respond to a request for comment.

According to Tennessee Secretary of State records, Tennessee Action 24/7 was established after the state House and Senate passed the sports gambling bill but before Gov. Bill Lee returned it without a signature. The outfit raised more than $5 million from 34 investors, company leadership told the SEC late last year.

Deployment of wagering in Tennessee has been delayed more than a year as industry representatives, the Tennessee Education Lottery board of directors and others have wrangled over rules for the new system.

This post originally appeared in our partner publication, the Nashville Post

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