Genius Sports Limited - GENI STOCK NEWS

Genius Sports Limited (NYSE: GENI) has initiated a Consent Solicitation for holders of its outstanding warrants as of November 16, 2022. The company seeks consent to amend the Exercise Period in its Warrant Agreement, reducing the expiration date from April 20, 2026, to January 18, 2023. If approved, warrant holders can exercise on a cashless basis for common shares. The exercise price is reduced to 74% of the previous closing price, contingent on obtaining the necessary consents. The Solicitation ends on December 16, 2022.

Genius Sports reported impressive financial results for the third quarter of 2022, showing a Group Revenue of $78.7 million, a 14% year-over-year increase, and Adjusted EBITDA of $7.7 million, a marked improvement from a loss of $0.4 million last year. The company achieved nearly triple revenue growth in the U.S. and struck 27 new partnerships with sportsbooks. Despite a net loss of $9.0 million, this reflects an 87% improvement from the previous year. The company maintains its 2022 revenue guidance of approximately $340 million and looks to achieve $430 to $440 million in 2023.

Genius Sports Limited (NYSE:GENI) will release its third quarter 2022 results on November 10, 2022, before 8:00 AM EDT. Following the announcement, the company will host a conference call at 8:00 AM EDT to discuss the results. Interested parties can access the earnings press release and related materials at investors.geniussports.com. Genius Sports serves over 400 sports organizations worldwide, providing data, technology, and broadcast services, and enhances fan experiences in over 150 countries.

Genius Sports (NYSE:GENI) has expanded its partnership with Football DataCo, enhancing their official tracking data capabilities across all Premier League matches. The new agreement introduces a sub-second tracking feed and innovative skeletal tracking technology, enabling richer data insights for fans, media, and teams. This partnership solidifies Genius Sports as the official data and integrity partner in the UK soccer ecosystem, leveraging advanced AI and computer vision technologies. This collaboration aims to boost fan engagement and create new opportunities in sports broadcasting.

Genius Sports (NYSE:GENI) has extended its partnership with bet365, enhancing their collaboration to provide top-tier official data across numerous sports events annually, including the Premier League and NFL. The extension grants bet365 exclusive data rights, particularly for NCAA sports. Additionally, both companies will explore new betting products leveraging Genius' advanced tracking technology, Second Spectrum. This partnership emphasizes Genius Sports' commitment to innovation and enhancing the betting experience for millions of users globally.

Genius Sports has been selected as the exclusive Official Data Partner for Australia's A-Leagues for the 2022-23 season. This partnership enables Genius Sports to distribute official betting data and employ integrity services to combat betting-related corruption in soccer. Their 24/7 monitoring technology will analyze real-time betting odds and flag suspicious activities. Additionally, Genius Sports will implement advanced tracking technology at select venues, contributing to the growth and integrity of Australian soccer.

The litigation between Genius Sports and Sportradar has been resolved, allowing Genius Sports to continue licensing and marketing FDC data. Genius Sports retains exclusive rights to provide low latency Official FDC betting data rights through 2024. Sportradar has agreed to stop unofficial scouting in major leagues and has acquired a sublicense for a delayed feed marketed as the Official FDC Secondary Feed, also through 2024. The specifics of the settlement remain confidential.

The Indianapolis Colts have launched a free-to-play game called “Pick Six”, presented by Caesars Sportsbook, to engage fans in the U.S. via the Colts’ Mobile App and Colts.com/PickSix. The game, developed with Genius Sports, features questions predicting team and player performance, with official betting odds integrated into select queries. This initiative aims to enhance fan engagement ahead of the NFL season, according to Colts Chief Sales & Marketing Officer Roger VanDerSnick. Genius Sports, the NFL's exclusive data distributor, emphasizes this collaboration as a key move in merging sports, betting, and media.

Genius Sports has partnered with MaximBet to provide official data-driven solutions that enhance sports betting experiences. This agreement will enable MaximBet to utilize Genius Sports' PreMatch, LiveData, and LiveTrading services for thousands of events annually, including major leagues like the NFL, EPL, and NCAA. The partnership aims to deliver real-time data and targeted marketing solutions, supporting MaximBet’s growth in North America. This collaboration emphasizes Genius Sports' role in the sports ecosystem, benefiting its clients with high-quality content and data.