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 substantial growth in Q2 2021, with revenue exceeding $55.8 million, a 108% year-over-year increase. Adjusted EBITDA rose 126% to $5.2 million. The company enhanced its market position by acquiring Spirable, Second Spectrum, and FanHub, while securing strategic partnerships with major sportsbooks. A public offering raised $435 million, contributing to a tightened revenue guidance of $255-$260 million for 2021. Despite these achievements, the net loss reached $464.2 million, highlighting ongoing financial challenges.
Genius Sports Limited (NYSE: GENI) has received a Temporary Event Wagering Supplier license from the Arizona Department of Gaming, allowing it to power sportsbook partners in Arizona, now totaling 16 U.S. states. This licensing follows a recent certification in Wyoming. Sports betting in Arizona is set to launch on September 9, with partners like BetMGM, DraftKings, and FanDuel also licensed. CEO Mark Locke expressed excitement about enhancing sports betting experiences in the state.
Genius Sports Limited (NYSE:GENI) has expanded its supplier agreement with WynnBET, now an Approved Sportsbook Operator for the NFL. This partnership will include the provision of official NFL data, play-by-play statistics, and fan engagement solutions. It builds on their existing relationship, enhancing WynnBET's offerings with trading solutions and data from international soccer leagues. The deal marks a strategic move to enhance customer engagement across WynnBET's seven operational states, including New Jersey and Michigan.
Genius Sports (NYSE:GENI) has entered a strategic partnership with Caesars Entertainment (NASDAQ:CZR), granting Caesars access to Genius' extensive portfolio of official sports data feeds. This agreement enhances Caesars’ sportsbook with essential data for betting on NFL, NASCAR, and other global sports. As part of the deal, Genius will also provide marketing technology to enhance customer engagement and acquisition. Both companies aim to elevate the betting experience and capitalize on the growing sports betting market in the U.S., improving their brand offerings and monetization opportunities.
Genius Sports (NYSE:GENI) has received a long-term Online Sports Wagering Vendor Permit from the Wyoming Gaming Commission. This approval enables Genius Sports to operate in 15 U.S. states, enhancing its capabilities in delivering data, streaming, and marketing solutions for sportsbooks. Wyoming joins the list of states legalizing online sports betting, marking it as the 23rd state to do so. CEO Mark Locke expressed enthusiasm about expanding in the U.S. market and supporting sportsbook partners like DraftKings and BetMGM.
Genius Sports Limited (NYSE:GENI) announces the appointment of Steve Bornstein as the new President of North America, effective immediately. With over 30 years in sports media, including leadership roles at ESPN and the NFL Network, Mr. Bornstein will enhance the company’s regional operations, focusing on growth in streaming and partnerships with major leagues like the NFL and NCAA. CEO Mark Locke emphasized Bornstein’s visionary leadership as pivotal for driving value and innovation within the company.
Genius Sports (NYSE: GENI) announced the acquisition of Spirable, a creative performance platform, enhancing its media and advertising capabilities. The synergy aims to offer personalized content, leveraging official sports data and AI. Spirable's clientele includes major brands and sports organizations, promising deeper fan engagement and improved marketing effectiveness. The transaction is expected to finalize in the second half of 2021, pending customary closing conditions.
Genius Sports Limited (NYSE: GENI) announced a new supplier agreement with DraftKings Inc. (NASDAQ: DKNG) to provide official sportsbook data and fan engagement solutions, including NFL-related products.
This partnership enables DraftKings to access over 170,000 live events annually, enhancing its sports betting offerings. DraftKings will implement Genius' advanced technology for immersive experiences, expanding their data portfolio to include top leagues like the English Premier League and NASCAR.
Genius Sports Limited (NYSE:GENI) has secured a multi-year agreement with the British Columbia Lottery Corporation (BCLC) as Canada legalizes single-event sports wagering. BCLC will utilize Genius Sports’ LiveData and LiveTrading services to provide real-time data and pricing across thousands of sporting events. This partnership includes access to official data rights for prominent leagues such as the Canadian Premier League and English Premier League. Genius Sports aims to strengthen BCLC’s competitive edge in the emerging Canadian sports betting market.
Genius Sports Limited (NYSE:GENI) has appointed Kimberly Williams-Bradley as an independent director, effective July 19, 2021, increasing the Board to nine members. With over two decades in finance and media, she has held key roles including CFO of the NFL and Warner Bros. Entertainment. Williams-Bradley has also joined the Audit and Compensation Committees. Her expertise is expected to enhance the Board's decision-making capabilities, aligning with Genius's strategic vision in the evolving sports, betting, and media sectors.
FAQ
What is the current stock price of Genius Sports (GENI)?
What is the market cap of Genius Sports (GENI)?
What does Genius Sports Limited do?
Where is Genius Sports Limited headquartered?
When was Genius Sports Limited founded?
What are the main product areas of Genius Sports Limited?
What industries does Genius Sports Limited serve?
Where does Genius Sports Limited generate most of its revenue?
How does Genius Sports Limited enhance fan engagement?
What kind of technology does Genius Sports Limited use?
What kind of partnerships does Genius Sports Limited have?
What markets does Genius Sports Limited operate in?
