Welcome to our dedicated page for Genius Sports news (Ticker: GENI), a resource for investors and traders seeking the latest updates and insights on Genius Sports stock.
Genius Sports Limited (GENI) is a London-headquartered company at the forefront of sports technology, established in 2001. With offices spanning across New York, Singapore, Tallinn, and more, Genius Sports is a global powerhouse in the sports, betting, and media industries. The company specializes in providing scalable, technology-driven products and services, which are essential for data collection, management, and utilization in sports.
Genius Sports operates through three key product areas: Sports Technology and Services, Betting Technology, Content and Services, and Media Technology, Content and Services. Their products leverage proprietary technology and a robust data infrastructure, making them a preferred partner for sports leagues, sportsbooks, and media brands worldwide.
The company's technology enhances fan engagement by delivering real-time, accurate data that power interactive and immersive experiences. Notably, the majority of their revenue is generated from the Betting Technology, Content and Services division, with Europe being their primary market. Recent achievements include expanding their partnership network, enhancing their technological capabilities, and increasing their footprint in key markets.
For clubs and leagues, Genius Sports offers advanced tools to capture and manage data, which is vital for improving operational efficiency and fan engagement. Sportsbooks benefit from their comprehensive suite of betting technology solutions that ensure reliable, real-time data delivery, crucial for live betting operations. Media partners utilize Genius Sports' data to create compelling content that captivates and retains audiences.
Overall, Genius Sports Limited stands out for its ability to transform raw sports data into valuable insights and interactive experiences, making it a significant player in the global sports ecosystem.
Genius Sports Limited (NYSE:GENI) reported a record Q3 2021 revenue of $69.1 million, a growth of over 70% year-over-year. The company has secured strategic partnerships with major betting platforms, expanding its NFL data services to over 97% of the U.S. market. Genius revised its full-year revenue guidance upwards to $257-$262 million. However, the Group adjusted EBITDA was a loss of $0.4 million, with significant investments affecting profitability.
Despite losses, management is optimistic about long-term growth driven by market expansion.
Genius Sports has announced a strategic partnership with FanDuel to provide a range of official NFL data, content, and media products. This collaboration enables FanDuel, the largest mobile betting operator in the U.S., to enhance its betting experience with access to Genius Sports’ official data products. The deal solidifies Genius Sports' role at the intersection of sports leagues and sportsbooks, highlighting its value in the growing sports betting market.
Genius Sports Limited (NYSE:GENI) will disclose its third quarter 2021 results on Tuesday, November 23, 2021, before 8:00 AM EST. A conference call is scheduled for the same morning to discuss these results. The earnings release and additional materials will be available on the investors.geniussports.com. A replay of the webcast will be accessible within 24 hours post-call.
Genius Sports has gained initial approval from the Louisiana Gaming Control Board to operate as a Sports Wagering Service Provider for six months. This milestone increases its operational reach to 18 U.S. states. Online sports betting was legalized in Louisiana in June 2021, with retail sportsbooks beginning operations. CEO Mark Locke expressed enthusiasm for partnering with Louisiana to deliver NFL data and media solutions as more states legalize sports betting.
Genius Sports has appointed Second Spectrum as the exclusive Official Tracking Data Provider for the Danish Superliga and 1st Division. This collaboration enhances data tracking and analytics in Danish soccer, enabling the identification of player and ball coordinates 25 times per second. Fans will receive new statistics, while coaches can leverage advanced analysis tools for performance tracking. This partnership follows the acquisition of Second Spectrum by Genius Sports in May 2021, which holds non-exclusive data rights to the Danish leagues through a long-standing agreement with European Leagues.
Genius Sports (NYSE:GENI) announces a new agreement with PointsBet, providing a full range of official sportsbook data, content, and fan engagement solutions for the NFL, NASCAR, and EPL. This partnership enhances PointsBet's ability to deliver a comprehensive in-play betting experience. With access to NFL's official play-by-play statistics and proprietary NGS data, PointsBet aims to revolutionize sports betting. The collaboration demonstrates Genius Sports' commitment to delivering the fastest and most accurate sports data globally, benefiting both companies and their consumers.
Genius Sports Limited (NYSE:GENI) has announced a new agreement with the Philadelphia Eagles to enhance fan engagement at Lincoln Financial Field through real-time betting odds and insights. As the NFL's exclusive provider of official statistics and betting data, Genius Sports will feature branded screens in sports betting lounges, offering fans live odds, league scores, and player stats. Unique betting offers will also be accessible via QR codes. This initiative is aimed at creating an immersive game-day experience for fans.
Genius Sports (NYSE:GENI) has announced a major partnership with Hard Rock Digital to enhance sports betting experiences. Hard Rock Digital will utilize Genius Sports' comprehensive sportsbook solutions, including access to official sports data from numerous events. This partnership features specialized NASCAR in-race betting markets and exclusive NFL data products. It aims to deliver engaging live betting experiences to millions of users, positioning both companies for growth in the expanding online sports betting sector.
Genius Sports (NYSE:GENI) has expanded its partnership with Entain and BetMGM to deliver a comprehensive NFL offering, including data feeds and sportsbook content. This 10-year collaboration enhances BetMGM's sportsbook operations across 16 U.S. markets. The agreement allows Entain and BetMGM to access official NFL data, optimizing customer engagement and betting experiences. CEO Mark Locke emphasized the significance of this partnership, which also includes exclusive advertising on NFL digital platforms.
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.
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