Genius Sports reveals Q2 results as company gains Arizona sports betting license
The sports data company has also agreed a partnership with WynnBET ahead of the NFL season.
Genius Sports, the official data and technology company, has today announced its Q2 financial results for the period ending June 30, 2021, showing strong year-on-year growth. The company has also today gained a temporary sports betting licence for the newly regulated market of Arizona as well as becoming an official data and fan engagement partner to WynnBET ahead of the NFL season.
Q2 revenue grew by more than double from the same period in 2020, coming in at $55.8m. Meanwhile, adjusted EBITDA for Q2 increased by 126% year-over-year to $5.2m. The second quarter of 2021 also saw the sports data company raise $435m of primary and secondary proceeds in an upsized public offering.
“We’re enormously proud of our continued execution in the second quarter and our ability to implement our end-to-end solutions on behalf of our industry partners,” said Mark Locke, Genius Sports’ co-founder and CEO. “We continue to significantly expand our leading portfolio of official rights by partnering with sports leagues and federations in key regions across the globe. Our comprehensive suite of premium content, technology services and fan engagement solutions have strengthened our commercial partnerships.”
Along with the announcement of the company’s financial results for the second quarter of 2021, Genius Sports has also launched a new partnership with the sports betting app and division of Wynn Resorts, WynnBET. This agreement will see Genius Sports provide the sportsbook with official NFL sports betting data, content and fan engagement solutions.
This deal comes after WynnBET was selected as one of the NFL’s approved sportsbook operators in August 2021. The sports betting app will utilize Genius Sports’ NFL official play-by-play statistics, proprietary Next Gen Stats platform and official sports betting data feed. This deal reflects similar ones made with the NFL’s other official sportsbook partners including 888 and BetMGM.
Speaking on the agreement CEO Mark Locke said: “In an increasingly competitive US sports betting landscape, sportsbooks need to be able to deliver immersive experiences that engage their customers at every step. Our partnership with WynnBET will provide them with an unmatched suite of official data, streaming and marketing solutions, backed by some of the largest leagues in sports, including the NFL.”
WynnBET is currently in Colorado, New Jersey, Arizona, Tennessee, Indiana, Virginia and Michigan.
Genius has also announced that it’s been granted a temporary sports betting license in Arizona, allowing it to provide official data for sports betting platforms throughout the region. Specifically, the data provider has been granted a temporary event wagering supplier license by the Arizona Department of Gaming.
“We are honored that the Arizona Department of Gaming has joined many other US states in licensing Genius to help bring the highest quality sports betting platforms to the Grand Canyon state,” Locke added. “With each state that launches gaming operations, the North American market comes closer to realizing its enormous potential. Our team is ready to get started in Arizona on day one and is excited to join our sportsbook partners in creating the most immersive, compelling fan experiences imaginable for the sports fans of Arizona.”
Sports betting will launch across Arizona on September 9, with Genius Sports providing official data for each of its partners who received licenses to operate in the state, including BetMGM, DraftKings and FanDuel.
Genius has over 400 sporting partnerships globally and provides betting data for the NFL, EPL, FIBA, NCAA, NASCAR, AFA and PGA.
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