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Genius Sports Reports Financial Results



genius sports reports financial results

Photo by Stephen Dawson

Genius Sports Limited, one of the more aggressive yet underlying names in the US and global legal sports betting industry, has released its financial results for the fourth quarter and full fiscal year 2020 that ended December 31, 2020, according to the data provider. As well as showing the success of the past year, the numbers show a sense of optimism that Genius has just scratched the surface of its potential in legal sports betting in the US.

“2020 marked a milestone for Genius with excellence amid the challenges of the global pandemic,” said Mark Locke, Co-Founder and CEO of Genius Sports. “We entered 2021 with great momentum, supported by our recently completed merger with the listing of dMY II and NYSE, as well as our exclusive partnership with the NFL. I’m more confident than ever about the opportunities ahead as we continue to leverage our unique technology and scalability to grow alongside the rapidly growing global sports, betting and media ecosystem. “

What is Genius Sports?

For casual followers of the U.S. and global legal sports betting industry, Genius Sports may not be the best-known name. That’s because they’re the name behind the big names in the industry. Genius Sports, “a global leader in digital sports content, technology and integrity services,” is the industry leader in providing real-time data required for sports betting to determine odds and for bettors looking to educate themselves before an upcoming match.

Their goal is to provide accurate statistics to weather and sports betting quickly and effectively to improve the overall experience. The company also provides critical integrity services that are critical to the growth, profitability and credibility of betting platforms around the world.

Company highlights last year

The last 12 months, especially the last quarter, have been very good for the Genius Group. Their main announcement came last month when they released a multi-year partnership with the NFL. The six-year contract makes Genius Sports the exclusive distributor of the NFL for official real-time play-by-play statistics, proprietary Next Gen Stats data and the NFL’s official sports betting data feed for media companies and sports betting providers worldwide. It is said that the deal could be valued at $ 1 billion over the life of the contract.

Together with the NFL, Genius Sports forged similar relationships over the past year to provide data for NBA, WNBA, and major league rugby. They are also the official data provider of one of the two major DFS giants in the US market.

Genius Sports has secured the right to operate in states 13 and 14 for the past 12 months after Michigan and Virginia opened their services.

A look at the financial data for the fourth quarter of 2020

Consolidated sales of the Genius Group increased year-on-year by 27.6% to USD 47.0 million. In constant currency, sales increased $ 9.3 million, or 24.8%, year over year.

The company’s Betting Technology, Content & Services division was up 23.4% year over year to $ 35.3 million, in large part driven by increased customer usage of Genius event content and new customer acquisition. New services and a price increase for these services also contributed to the increase in profits.

Media, technology, content and services all showed an even larger increase in revenue, due in large part to the acquisition of new customers in America and Europe for advertising on their increasingly relevant platforms. Revenue increased 90.5% year over year to $ 7.5 million.

The only Q4 metric that fell was on Genius Sports technology and services. The report found sales decreased 1.7%, or $ 4.3 million.

How about the financial data for 2020 as a whole?

The Genius Group recorded strong growth in all product lines compared to the previous year. The financial report released last week showed a year-over-year gain of 30.6% to $ 149.7 million. In constant currency, sales increased $ 34.5 million, or 30%, year over year.

Betting technology, content and services showed, just as in the fourth quarter numbers, a significant increase over the previous year. Revenue from this sector rose 25.2% to $ 110.6 million thanks to aggressive plans to expand its official data products, the addition of services, and the ability to get those services into the hands of vendors.

Sports Technology & Services bucked the Q4 trend and posted year-over-year profits. Revenue from this sector increased 11.8% year over year to $ 16.1 million, in large part due to the company’s focus on expanding services to existing sports league and federation customers.

Media, technology, content and services revenue increased 94.0% year over year to $ 23.1 million.

On the way to 2021

Genius Sports seems to have just touched the tip of the iceberg in the exploding US market. Their exclusive contract with the NFL alone should propel the company into the next tier of data providers.

The influence of Genius Sports should not be underestimated, and their expertise in the field of legal sports betting should theoretically make them an outstanding provider in their field in the future. All eyes will be on the next quarter and fiscal year to see how much your hard work has paid off.

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Montreal Canadiens coach Dominique Ducharme symptom-free, hopes to return in days



montreal canadiens coach dominique ducharme symptom free, hopes to return in

MONTREAL – Canadien’s interim coach Dominique Ducharme said on Sunday that he had remained symptom-free two days after testing positive for COVID-19 and that he hopes to be back behind the bench during the Stanley Cup semi-final series in Montreal against Vegas.

Ducharme wore a dark blue collared Canadiens shirt, white hair and a familiar short stubble on his chin and spoke to reporters from an unknown location during a 12-minute video conference, his first comments since his mandatory isolation.

“I wish I could be on the rink now. I don’t feel any different than I did a week ago,” said Ducharme as the Canadiens prepared to host Vegas in Game 4 on Sunday night.

Montreal has a 2-1 lead in the series, Game 5 in Vegas is scheduled for Tuesday. If necessary, Game 6 will be played in Montreal on Thursday and Game 7 in Vegas on Saturday.

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Ducharme was asked if he would have to spend 14 days in isolation.

“I’m confident I’ll be back before that,” he said.

Ducharme said he was fully vaccinated against the coronavirus and would end the two-week waiting period after his second vaccination on Wednesday.

It is unclear whether 48-year-old Ducharme will be able to return at this point.

“Until then, nothing has been confirmed. The organization is in contact with the authorities. It is a unique situation. We have been isolated since December,” said Ducharme in French.

Ducharme said no one he had contact with, including his girlfriend, tested positive. He said he was following NHL COVID-19 protocols when the Canadiens traveled to Vegas last week to open the series.

The Canadiens were restricted to certain areas of their Vegas hotel and had to take the bus to and from the ice rink.

Montreal, a member of the NHL’s Canadian North Division, is the only Canadian team to cross the line this season after teams were restricted to play within the division in the second round of the playoffs.

“It’s frustrating because I did everything you asked us to. I never exposed myself. I was so unlucky,” said Ducharme, who is in daily contact with his team and employees by phone and video call.

This is the second straight postseason that Montreal assistant Luke Richardson has had to step in in an emergency. Last summer, Richardson and former assistant coach Kirk Muller shared coaching duties after Claude Julien was hospitalized with chest pain after the first game of the Montreal-Philadelphia first-round series.

Julien missed the rest of the playoffs and resumed coaching that season before being sacked and replaced by Ducharme on February 24th.

It was difficult for Ducharme to watch out of isolation as the Canadiens recovered in Game 3 on Friday with a 3-2 win in extra time after two one-goal deficits.

“You feel helpless to watch and hope for the best. It’s a strange situation,” said Ducharme. “A special situation, but it was a special year. We’ve been through a lot. And we’ll get through that.”

The Canadiens had the worst record of the NHL’s 16 playoff qualifiers before upsetting Toronto and Winnipeg in the first two rounds.

The Golden Knights have already seen this scenario this postseason. Colorado Avalanche coach Jared Bednar missed a morning skate due to a COVID-19 test irregularity and was released in time to coach in Game 6 of the second round series against Vegas.

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Brooklyn Nets Guardian Spencer Dinwiddie wants to turn down the $ 12.3 million player option



brooklyn nets guardian spencer dinwiddie wants to turn down the

Brooklyn Nets Guardian Spencer Dinwiddie plans to turn down the $ 12.3 million player option on his 2021-22 contract and become an unrestricted free agent before the deadline on Monday, sources told ESPN’s Adrian Wojnarowski.

Dinwiddie missed most of the season with a cruciate ligament injury in his right knee and appeared in just three games. He tried to possibly get back to the NBA final, but the Nets were eliminated by the Milwaukee Bucks in the Eastern Conference semifinals on Saturday.

Dinwiddie, 28, has had a history of ACL injuries. During his junior year in Colorado, Dinwiddie tore his left ACL in one game and missed the rest of the season.

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Dinwiddie was a key player for Brooklyn last season, starting in 49 games when Kyrie Irving and Caris LeVert were out injured. He averaged 20.6 points and 6.8 assists in the 2019-20 season but was diagnosed with COVID-19 in late June and did not travel to Orlando with the Nets to restart the season.

The 6-foot-5 Dinwiddie has averaged 12.9 points and 5.0 assists over portions of seven seasons with the Nets and Detroit Pistons.

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The Uganda Olympic trainer tests positive for Covid after arriving in Japan



Uganda Olympic Committee President Donald Rukare said the unnamed trainer had no symptoms. It is not yet clear whether the trainer, who is in a government facility, will be banned from participating or sent home.

The entire Ugandan Olympic delegation, which includes 26 athletes and 30 staff, has been fully vaccinated with two syringes of AstraZeneca, Rukare said.

Many received their second dose of the vaccine this month, about three months after receiving their first dose, Rukare said.

The eight others who arrived with the Covid-positive trainer have traveled to Izumisano City in Osaka Prefecture, where they will be housed, according to Izumisano City official Hideo Takagaki. Rukare said the octet is in a bubble and is being tested daily.

Japan's leading Covid-19 advisor says holding the Olympics without spectators is "he wishes"

More athletes and employees of the Ugandan Olympic team are expected to arrive in Japan in the coming days.

Ugandans are among the first to arrive in Japan ahead of the Tokyo Olympics amid security concerns as the country battles a fourth wave of Covid-19. The Asian host nation has fully vaccinated less than 7% of its population, and doctors are warning that an Olympic super-spreader event could bring Japan’s overburdened medical system to the brink. At least 10,000 of the 80,000 people who have signed up for help with the Games have already stopped, and Japan’s top coronavirus advisor said Friday that hosting the Olympics with no spectators would be “desirable”. Uganda’s Olympic athletes are some of the first people in the African nation to receive the vaccine – Uganda has one of the lowest vaccination rates in the world, with only 2 doses per 100 people. The country of 45 million people is currently battling a second wave with reported cases up 130% in the first two weeks of June. Uganda also has a relatively high test positive rate, with 19% of tests being positive according to Johns Hopkins University, suggesting that authorities are not covering all Covid-19 cases. This week has the Uganda Rugby Union tweeted that the Sevens national team withdrew from an Olympic qualifier in Monaco after reporting Covid-19 cases within the team.

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