Eilers & Krejcik Gaming, LLC

History and Founding

Eilers & Krejcik Gaming was established in 2012 in Newport Beach, California, by Todd Eilers and Adam Krejcik, who previously worked in gaming research and consulting. The firm was created to fill a gap in the market by providing in-depth analysis of gaming equipment suppliers, technology providers, and digital gambling operators, rather than focusing on casino operators themselves. Over the years, EKG has built a reputation for independent, non-consensus research.

Business Model and Revenue

EKG generates revenue through subscription-based market research reports, bespoke consulting projects, and company research for investors. The firm does not sell data or take commissions; it operates as a pure advisory and intelligence provider. Its consulting division handles regulatory feasibility studies, fairness opinions, and competitive analysis for both public and private clients.

Core Products and Platforms

The flagship product is the quarterly Social Casino Tracker, which benchmarks performance and market share in the social casino space. Other reports include the Sports Betting Market Share tracker and Slot Performance Metrics. EKG also provides active coverage of publicly and privately held gaming companies, offering equity research and operational benchmarks. The Zero Latency podcast, hosted by analysts Brad Allen and Alun Bowden, covers U.S. online gambling trends and features interviews with industry leaders. The firm’s investment arm, EKG Ventures, makes strategic equity investments in gaming and tech startups.

Market Position and Competitors

EKG is considered a boutique but highly influential player in gaming research. Its competitors include larger firms like H2 Gambling Capital and GamblingCompliance, but EKG’s focus on the supply chain and digital segments gives it a unique niche. The firm's research is frequently cited by executives at Konami Gaming, Aristocrat, and PlayStudios, underscoring its credibility.

Notable Engagements and Partnerships

EKG has worked with the Indiana Gaming Commission to analyze the fiscal impact of sports betting legalization, a report praised for its professionalism. In 2023, the firm announced a strategic partnership with Gaming Analytics to use AI for predicting player behavior and optimizing slot machine purchases. On the investment side, EKG Ventures has made notable bets, including a $35 million Series B investment in Underdog Fantasy in 2022.

Leadership

The firm is led by founders Todd Eilers (majority owner) and Adam Krejcik (head of sports betting and digital gaming). Chris Grove is a partner, and DJ Leary and Chris Krafcik serve as managing directors. The leadership structure does not include formal C-suite titles, but the team of approximately 40 professionals works across research, consulting, and media.