STOCK TITAN

Connecticut Awards Genius Sports Inaugural Sports Betting License

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Genius Sports (NYSE: GENI) has received certification as an Online Gaming Service Provider from the State of Connecticut, enabling its operations in the state. This approval allows Genius Sports to support its sportsbook partners across 17 U.S. states. Online sports betting in Connecticut begins on October 7, coinciding with NFL Week 5. The news highlights the increasing demand for enhanced sports betting experiences across U.S. states, a market expected to grow significantly.

Positive
  • Certification as an Online Gaming Service Provider adds Connecticut to the list of states where Genius Sports operates, increasing market presence.
  • Authorized to support sportsbook partners in 17 U.S. states, reinforcing Genius Sports' position in the growing online betting market.
Negative
  • None.

State gaming authority grants Genius Sports approval to support sportsbook partners statewide.

NEW YORK & LONDON--(BUSINESS WIRE)-- Genius Sports Limited (NYSE: GENI) (“Genius Sports”), the official data, technology and commercial partner that powers the ecosystem connecting sports, betting and media, announced today that it has been certified by the State of Connecticut, Department of Consumer Affairs, as an Online Gaming Service Provider.

With the addition of Connecticut, Genius Sports is now authorized to operate in 17 U.S. states, powering award-winning official data, streaming, and marketing solutions for leading sportsbooks and lotteries.

Online sports betting was authorized in Connecticut in May 2021, making the state the latest to legalize sports betting and begin betting operations. Connecticut’s online sportsbooks are set to launch 7th October, ahead of NFL Week 5. Earlier this week, Connecticut’s federal officials confirmed that FanDuel and DraftKings will both be authorized to take retail bets at the Mohegan Sun and Foxwoods Resort Casino respectively.

“We are thrilled that Connecticut has awarded Genius Sports its inaugural online gaming service provider permit, allowing authorized sportsbooks access to our industry-leading solutions,” said Mark Locke, CEO of Genius Sports. “There are an increasing number of U.S. states looking to provide their residents with the best quality fan experiences, while capturing the full value available to the state. Genius Sports welcomes the opportunity to work with states like Connecticut, using our official sports data-powered solutions to underpin their authorized sportsbooks.”

# # #

About Genius Sports

Genius Sports is the official data, technology and commercial partner that powers the global ecosystem connecting sports, betting and media. We are a global leader in digital sports content, technology and integrity services. Our technology is used in over 150 countries worldwide, empowering sports to capture, manage and distribute their live data and video, driving their digital transformation and enhancing their relationships with fans.

We are the trusted partner to over 400 sports organizations globally, including many of the world’s largest leagues and federations such as the NFL, EPL, FIBA, NCAA, NASCAR, AFA and PGA.

Genius Sports is uniquely placed through cutting-edge technology, scale and global reach to support our partners. We are more than just a technology company, we build long-term relationships with sports at all levels, helping them to control and maximize the value of their content while providing technical expertise and round-the-clock support.

Media:

Chris Dougan, Chief Communications Officer, Genius Sports

+1 (202)-766-4430

chris.dougan@geniussports.com

Tristan Peniston-Bird / Charlie Harrison, The One Nine Three Group

+44 7772 031 886 / +44 7884 136 143

tristan.peniston-bird@the193.com / Charlie.harrison@the193.com

Investors:

Brandon Bukstel, Investor Relations Manager

+1 (954)-554-7932

brandon.bukstel@geniussports.com

Source: Genius Sports Limited

FAQ

What recent approval did Genius Sports receive from Connecticut?

Genius Sports has been certified as an Online Gaming Service Provider by the State of Connecticut.

How many states can Genius Sports now operate in after the Connecticut approval?

Genius Sports can now operate in 17 U.S. states.

When will online sports betting begin in Connecticut?

Online sports betting in Connecticut is set to launch on October 7.

What does the Connecticut certification allow Genius Sports to do?

The certification allows Genius Sports to support its authorized sportsbook partners with their solutions.

What are the implications of this approval for Genius Sports' business?

The approval enhances Genius Sports' presence in the growing U.S. sports betting market.

Genius Sports Limited

NYSE:GENI

GENI Rankings

GENI Latest News

GENI Stock Data

1.45B
211.00M
26.63%
77.35%
9.17%
Internet Content & Information
Communication Services
Link
United States of America
London