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DraftKings has partnered with Genius Sports for sports betting

Stephon Gilmore, 24, a cornerback of the New England Patriots, will stretch during a New England Patriots practice session on October 22, 2020 in Foxborough, Massachusetts.

Barrytin | The Boston Globe | Getty Images

DraftKings, a sports betting company, has partnered with Genius Sports on a multi-year data contract to position itself for the National Football League season.

Transactions offer Draft Kings Genius Sports is the official owner of the information and therefore uses exclusive sportsbook data about the NFL. DraftKings announced Wednesday that it will have access to fan retention services such as Genius live video feeds from over 170,000 sporting events annually and marketing technology to attract customers. With this software, DraftKings can buy advertising space at critical moments of live sports. Therefore, it tempts customers.

The terms of the transaction have not been disclosed.

Ezra Kucharz, Chief Business Officer at DraftKings, called the partnership “mutually beneficial,” and by working with Genius, the company “extended the capabilities of our products and new exciting features like the Single Game Parley. Will be able to provide to customers. ” “”

DraftKings reported $ 312 million in revenue First quarter financial report.. The company also raised its revenue guidance for fiscal year 2021 from $ 900 million to $ 1 billion and from $ 1.05 billion to $ 1.15 billion.

During April DraftKings joins Caesars and Van Duel in the NFL Sportsbook Partnership.. This agreement allows sports betting companies to use NFL’s intellectual property and its trademarks for betting promotions. Both companies will also operate on a content sharing model with the NFL. For example, betting sites can take advantage of resources such as NFL highlights and Next Gen Stats data to help set up betting lines.

Therefore, companies need to do business with Genius.

Genius sports.

Genius Sports

A London-based data and tech company also signed an NFL contract last April, allowing it to distribute real-time live statistics and next-generation league statistics. Its four-year cash and equity trading dealing with options could be valued at $ 1 billion for the entire contract period if the contract is extended.

Genius has completed a $ 1.5 billion merger with special purpose acquisition company dMY Technology Group and is currently trading on the New York Stock Exchange under the ticker symbol. GENI It has a market capitalization of $ 3 billion. In a first-quarter earnings report last May, the company said it made $ 53.7 million. Raise revenue guidance From $ 190 million up to $ 260 million. Shares fell 2% on Wednesday, closing at $ 15.86 per share.

According to the American Gaming Association, sports betting is legal in 22 states and the District of Columbia, and DraftKings aims to enter more markets, including New York. The state is approaching mobile betting permits and estimates that the market will generate $ 482 million in tax revenue. The Wall Street Journal..New York will charge the platform One-time $ 25 million Access license fee.

In addition to NFL data, DraftKings will get data on the National Basketball Association, Major League Baseball, and NASCAR. Genius also has international football partnerships with the English Premier League and Liga MX.

DraftKings shares closed at $ 48.67 on Wednesday.

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

DraftKings has partnered with Genius Sports for sports betting

Source link DraftKings has partnered with Genius Sports for sports betting

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