Genius Sports Limited Stock Price, News & Analysis

Genius Sports (NYSE: GENI) has secured a significant partnership with 888 Holdings to provide official sports data and trading solutions for SI Sportsbook in the U.S. This agreement enhances Genius Sports' existing collaboration with 888, allowing the sportsbook to utilize comprehensive data for major U.S. sports like the NBA, NCAA, NASCAR, and NFL. The partnership aims to elevate the user experience for SI Sportsbook, launched initially in Colorado, by integrating real-time statistics and advanced betting capabilities, further strengthening Genius Sports’ role in the betting and media landscape.

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.