14 Mar

Gambling News

Genius Sports declares entry into the free-to-play gaming sector.

Genius Sports has declared the introduction of interactive free-to-play games for its operators, including Betway and Bet365.
Genius IBIA will have a free-to-play model encompassing weekly and matchday games, tournament games, and daily retention games. These aim to fulfil objectives such as launching a sportsbook brand and providing targeted daily player engagement.

Genius will provide tailored free-to-play solutions to fulfil operators' goals, encompassing gamification strategy planning and custom game creation.

Moreover, Genius is consolidating its advertising solutions to assist operators in transitioning gamers from free-to-play games to their sportsbook. Genius will employ advanced analytics and reporting in its advertising division to aid operators in assessing the impact of paid media.

Genius seeks to empower operators to enhance client acquisition and retention.
The provider's initiative is to empower operators to enhance client acquisition and retention. Josh Linforth, Chief Revenue Officer of Genius, remarked: “Our new suite of games offers betting operators exceptional value throughout the entire player lifecycle, from motivating users to create an account to providing compelling incentives for their return and ultimately converting them back to wagering.”

“We collaborate with over 300 betting operators and are eager to enhance our partnerships through validated gamification solutions.”

Revised approach for Genius following a mixed fiscal year 2023. Genius Sports
Genius Sports reported a net loss of $85.5 million for fiscal year 2023, despite increases in revenue and adjusted EBITDA.
Genius' entry into the free-to-play sector follows its recent announcement of mixed financial results for the 2023 fiscal year.

The corporation augmented its revenue by 21% throughout 2023. It attained $413.0 million (£324.5 million/€379.3 million) for the year, surpassing Genius' previous forecast of $391 million.

The increase in revenue was facilitated by enhancements in two of Genius' operational segments. The 31.1% increase in Genius’ Betting Technology, Content & Services division, which contributed $274.2 million to the overall revenue, was evident.

Adjusted EBITDA increased by 238.3% year-on-year, reaching $53.3 million. This once more surpassed the initial guideline of $41 million.

Nonetheless, despite increases in revenue and adjusted EBITDA, Genius still incurred a loss of $85.5 million for the year. This amount was under fifty percent of the $181.6 million loss reported the previous year; yet, Genius praised the "enhanced underlying performance."

Genius poised to expand Premier League data agreement
Genius Sports' proposed extension of its data company agreement would continue until 2029.
This week, Genius revealed it has been selected as the successful bidder to renew its official betting data agreement with Football DataCo, which possesses data rights to the English Premier League (EPL).

The agreement encompasses the rights to data from the English Football League (EFL), which includes the Championship, League One, and League Two, in addition to all levels governed by the Scottish Professional Football League (SPFL), notably the Scottish Premiership.

The supplier has commenced an exclusive negotiation period with DataCo to conclude the agreement. The new agreement will extend until 2029, allowing Genius Sports to persist in distributing data from more than 4,000 UK football matches per season.