Genius Sports Posts Revenue Increase Numbers

Betting groups all around the world are enjoying the harvest that US’ newly-regulated sports betting market has yielded, ever since the historic move by the US Congress…

…One of those companies who is seeing a huge benefit in revenue is Genius Sports Group sports data specialist whose brands are partnered up with USA’s most important sporting leagues and organizations, such as MLB and NCAA, but also English Premier League and PGA Tour, to mention a few.

Financial Surge

Genius Sports Group has reported a huge increase in year-on-year revenue – 65%, to $69.6 million…

… Last year, they ed forces with their main rival, Perform, to work together on Football DataCo, a statistics aggregator from English and Scottish professional football leagues.

In July this year, they acquired Apax Funds, only a couple of months after the PASPA repeal. This purchase will pave new paths for them to service major sporting leagues in the US.

Back then, Apax representatives have stated that the company has been attracted to the market of sports data for a long time and that Genius Sports Group’s breadth of offering and industry-leading technology stood out, as well as its immaculate reputation.

The Work Behind the Numbers

Analyst at Regulus Partners say that it was the purchase of Apax that was decisive and, in a way, “transformational,” because that investment will open doors for a fairer race with their main competitors, Perform and Sportradar.

“An investment problem that seems to have plagued Genius for years has been resolved – and it is likely no coincidence that this has happened shortly after such strong topline momentum has been delivered. However, the extent to which big cheques can generate big returns remains to be seen, in our view.”

Genius’ statement reads as follows: “The group’s primary objectives are the continued enhancement of products and services within its existing sportsbook management and customer marketing activities alongside additional investment and development of activities in the Genius Sports and Genius Sports Media divisions.”

Through active investment in infrastructure, highly skilled technical and business development resources, it is the group’s strategy to work in partnership with sports to provide full service solutions for the commercialisation and development of sports’ inherent IP and assets, through the media and betting verticals.”

Source:

“Genius Sports sees revenues surge”, igamingbusiness.com, September 17, 2018.