Cash Live
    Trending
    • Automakers are jacking up prices on electric vehicles to bake in rising materials costs
    • Stocks making the biggest moves after the bell: Palo Alto Networks, Ross Stores, Deckers & more
    • Want to change the world? Bill Gates says you should ‘read a lot’ and ‘find a skill you enjoy’
    • These 10 companies help pay for their employees’ vacations
    • America’s small businesses aren’t ready for a cyberattack
    • Who needs LeBron? Luka Doncic, Ja Morant, playoff ratings put NBA in a strong position for next media rights cycle
    • Creating a special needs trust? Here are the costs, what you need to know and who to use
    • As college enrollment tanks, there’s a growing push to celebrate students going into skilled trades
    • Personal Finance
    • Investing
      • Investing
      • Advisors
      • Investor Tips
    • Earnings
    • Business
      • Business
      • Small Business
    • Finance
      • Finance
      • Wealth
    Cash Live
    Home»Earnings»NFL data rights partner Genius Sports sees revenue double in the second quarter
    Earnings

    NFL data rights partner Genius Sports sees revenue double in the second quarter

    September 8, 2021No Comments2 Mins Read
    106883679 1621204706506 GENI scaled
    Share
    Facebook Twitter LinkedIn Pinterest Email

    In this article

    • GENI
    Genius Sports.
    Genius Sports

    National Football League data rights partner Genius Sports reported second-quarter earnings Wednesday morning. Revenue doubled year-over-year but it reported a big loss. Shares of Genius Sports were up about 2.5% on Wednesday morning.

    Genius provides NFL play-by-play stats and Next Generation data for sports gambling companies, allowing the firms to set betting lines, and offer in-game micro bets.

    Genius said it made $55.8 million in revenue for the quarter, which ended on June 30, up slightly from $53.7 million in the first quarter and up 108.4% from the same quarter last year. It reported a net loss of $464.1 million in Q2, an increase from a $7.4 million loss in the same quarter last year. The company said $414.5 million of that loss was for stock-based compensation.

    Last April, Genius signed an exclusive deal valued at $1 billion to provide official data essential to NFL bets – a significant driver for betting companies in an estimated $40 billion online gambling sector. That means if sports gambling providers that want to cash on bets this season using official NFL data have to do business with Genius.

    On Tuesday, Genius added Caesars and WynnBET sportsbooks to its portfolio. It added Sports Illustrated’s sportsbook on Wednesday. Those companies joined DraftKings, which agreed to a partnership last month. Genius makes money from the deals by taking a fixed fee and through a profiting sharing model.

    But it still needs to add FanDuel to the mix, a deal that could be announced within the first few weeks of the NFL season. The league selected DraftKings, Caesars, and FanDuel as its top-tier betting partners, allowing the companies to leverage NFL intellectual property and content around its offerings.

    A record 45.2 Americans could bet on NFL games during the 2021 season, according to the American Gaming Association. The firm added Americans have bet “$27 billion on sports in the first seven months of 2021, generating more than $350 million in federal, state, and local taxes.”

     Disclosure: CNBC parent Comcast and NBC Sports are investors in FanDuel.

    This article was originally published by Cnbc.com. Read the original article here.
    “Cryptocurrency
    fqw82np

      Related Posts

      Cisco stock plunges as company forecasts surprising revenue decline

      May 20, 2022

      Palo Alto Networks stock jumps after company lifts full-year forecast

      May 20, 2022

      Kohl’s says final sale bids expected in coming weeks; retailer slashes full-year outlook after earnings miss

      May 19, 2022

      Bath & Body Works shares fall as retailer cuts profit outlook due to inflation

      May 19, 2022
      Add A Comment

      Leave A Reply Cancel Reply

      Signup for our Newsletter
      Advert
      “Cryptocurrency
      Investing

      The CEO of the world’s second-largest alternatives firm is optimistic about a light recession

      May 20, 2022

      Crypto exchange FTX U.S. moves into stock trading

      May 19, 2022

      Rising fuel costs are a massive problem for business and consumers — Here’s why they’re so high

      May 19, 2022

      Melvin Capital says it’s winding down funds and returning money to investors during market turmoil

      May 19, 2022
      Finance

      Stocks making the biggest moves after the bell: Palo Alto Networks, Ross Stores, Deckers & more

      May 22, 2022

      These 10 companies help pay for their employees’ vacations

      May 21, 2022

      As college enrollment tanks, there’s a growing push to celebrate students going into skilled trades

      May 21, 2022

      Stocks close flat in wild session Friday that saw the S&P 500 briefly fall into a bear market

      May 21, 2022
      Earnings

      Cisco stock plunges as company forecasts surprising revenue decline

      May 20, 2022

      Palo Alto Networks stock jumps after company lifts full-year forecast

      May 20, 2022

      Kohl’s says final sale bids expected in coming weeks; retailer slashes full-year outlook after earnings miss

      May 19, 2022

      Bath & Body Works shares fall as retailer cuts profit outlook due to inflation

      May 19, 2022
      Categories
      • Advisors
      • Business
      • Earnings
      • Finance
      • Investing
      • Investor Tips
      • Personal finance
      • Small Business
      • Wealth
      Archives
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • September 2019
      • July 2019
      • September 2018
      • May 2018
      • March 2018
      • February 2018
      • December 2017
      • September 2017
      • June 2017
      • May 2017
      • April 2017
      • March 2017
      • December 2016
      • September 2016
      • August 2016
      • July 2016
      • June 2016
      • May 2016
      • April 2016
      • March 2016
      • October 2015
      • September 2015
      • July 2015
      • June 2015
      • March 2015
      • February 2015
      • January 2015
      • December 2014
      • October 2014
      • September 2014
      • July 2014
      Signup for our Newsletter
      Advert
      Uselful links
      • Contact
      • About us
      • DMCA / Copyrights Disclaimer
      • Privacy Policy
      • Terms and Conditions
      • Cookie Policy (US)
      • Cookie Policy (EU)
      © 2022 Designed and Powered by JL Digital webbyrå.

      Type above and press Enter to search. Press Esc to cancel.

      Manage Cookie Consent
      To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
      Functional Always active
      The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
      Preferences
      The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
      Statistics
      The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
      Marketing
      The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
      Manage options Manage services Manage vendors Read more about these purposes
      View preferences
      {title} {title} {title}