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Genius Sports Secures Regulatory Approval for Ontario Launch
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Genius Sports (NYSE: GENI) has received regulatory approval from the Alcohol and Gaming Commission of Ontario (AGCO) to operate within Ontario's online market. The approval, effective from April 4, 2022, allows Genius Sports to provide its official data, technology, and trading services to various sportsbook partners. CEO Mark Locke expressed enthusiasm for being among the first providers approved by the AGCO, highlighting the company's compliance track record.
Positive
Regulatory approval from AGCO enhances market presence in Ontario.
Ability to provide services to sportsbook partners from the launch date.
Genius Sports' compliance track record is recognized positively.
Negative
None.
Provincial gaming regulator grants Genius Sports approval to support sportsbook partners across Ontario
NEW YORK & LONDON--(BUSINESS WIRE)--
Genius Sports Limited (NYSE: GENI) (“Genius Sports”), the official data, technology and broadcast partner that powers the ecosystem connecting sports, betting and media, announced today that it has obtained regulatory approval from the Alcohol and Gaming Commission of Ontario (AGCO), enabling the company to launch with partners from day one of the Ontario online market opening.
Genius Sports received confirmation from the AGCO of its registration as a Gaming-Related Supplier effective from 4 April 2022, the date when regulated online single-event wagering launches in Canada’s most populous province.
The registration permits Genius Sports to provide its official data, sportsbook technology, media and trading services to operator partners which include its premium CFL, CPL, AHL and NFL products and services.
Mark Locke, Genius Sports Chief Executive Officer and Co-Founder, said: “I am delighted that Genius Sports has become one of the first sportsbook providers to win approval from the AGCO. This approval underscores Genius Sports’ exemplary track record in compliance, and we are excited to be in a position to deliver our market-leading sportsbook data and technology to our customers in Ontario from day one.”
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About Genius Sports
Genius Sports is the official data, technology and broadcast partner that powers the global ecosystem connecting sports, betting and media. Our technology is used in over 150 countries worldwide, creating highly immersive products that enrich fan experiences for the entire sports industry.
We are the trusted partner to over 400 sports organisations, including many of the world’s largest leagues and federations such as the NFL, EPL, FIBA, NCAA, NASCAR, AFA and Liga MX.
Genius Sports is uniquely positioned through cutting-edge technology, scale and global reach to support our partners. Our innovative use of big data, computer vision, machine learning, and augmented reality, connects the entire sports ecosystem from the rights holder all the way through to the fan.
What did Genius Sports announce regarding Ontario's online gaming market?
Genius Sports announced that it received regulatory approval from the AGCO to operate and support sportsbook partners in Ontario's online gaming market.
When was Genius Sports' approval by the AGCO effective?
The approval was effective from April 4, 2022, coinciding with the launch of regulated online single-event wagering in Ontario.
What services will Genius Sports provide following its AGCO approval?
Genius Sports will provide official data, sportsbook technology, media, and trading services to its partners in Ontario.
Who is the CEO of Genius Sports and what did he say about the AGCO approval?
Mark Locke, CEO of Genius Sports, expressed delight over the approval, emphasizing the company's strong compliance track record.
