Benzinga Names Genius Sports A 'Heavy Hitter' Award Recipient At Inaugural BZ Titans Sports Betting Event

A leading fantasy sports and sports betting company has been honored with the Heavy Hitter award from Benzinga at its first-ever Titans Sports Betting conference.

What’s A Heavy Hitter?

The Heavy Hitter Award is reserved for companies that have demonstrated material market share gains, competitive advantages and strategic acclaim. A jury evaluated key criteria including financials, innovative spirit, M&A and compliance.

The Decision

Genius Sports Ltd. GENI received the award for its leadership in supplying data, technology and broadcast that powers the global ecosystem connecting sports, betting and media. 

Revenue for the group climbed 13%  year-on-year in the first quarter of 2023 to $97.2 million. For fiscal year 2022, Genius Sports reported an increase of 18.1% in revenue from its betting technology, content and services segment to $209.3 million.

Genius Sports is consistently capturing growth in the U.S. sports betting industry, with NFL In-Play Handle and Gross Gaming Revenues (GGR) increasing around 40% and 100%, respectively, in the 2022-23 season compared to the 2021-22 season.

In addition, the firm reported a strong year-on-year increase in operator win margins across Pre-Match and In-Play. 

Genius Sports has commercial agreements with more than 400 sports leagues and federations, 300 sportsbook brands and 100 marketing clients.

With gross gaming revenue forecast to almost double from $31 billion in 2020 to $59 billion by 2025, the firm is also well-suited to grow alongside the rapidly increasing sports betting market.

Genius Sports shares have climbed 48% year-to-date as of May 22 but remain 46% below than the October 2020 IPO prices.

Benzinga congratulates the Genius Sports team for offering cutting-edge technology products and services to the sports betting and sports media industries in the U.S. and globally.

Read Next: Genius Sports Stock Analyst Ratings, Price Targets, Predictions

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