Genius benefits from betting growth as revenue rises 22.1% in Q2
Genius Sports said growth within its betting technology, content and services division helped push revenue up 22.1% year-on-year during the second quarter of 2023.
The data, technology and broadcast business experienced growth across all its businesses in the period. However, it was its betting arm that witnessed the most significant increase, with revenue rising 26.8%.
Genius put this down to higher customer utilisation of event content and growth in business with existing clients.
The provider also noted that renewed partnerships with a number of major clients will help drive further growth.
In recent months, Genius has extended a partnership with Football DataCo (FDC), which manages data rights for the English Premier League. It has also renewed deals with the National Football League and indoor American football’s XFL.
“We enter H2 having reached a significant inflection point in our business,“ Genius co-founder and CEO Mark Locke said. “Following the financial outperformanc..
