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Genius Sports Announces Second Quarter 2023 Financial Results

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Genius Sports Limited, the official data, technology, and broadcast partner that powers the global ecosystem connecting sports, betting, and media, announced financial results for its fiscal second quarter ended June 30, 2023.

Highlights

  • Group Revenue of $87m, exceeding second quarter guidance of $80m
  • Group Net Loss of ($10m) and Group Adj. EBITDA of $16m, exceeding second quarter guidance of $14m
  • Year-to-date Group Adj. EBITDA more than quadrupled year-on-year to $24m
  • Raising 2023 Group Revenue and Adj. EBITDA guidance for the second consecutive quarter to $410m and $52m, respectively, up from prior guidance of $400m and $49m
  • Genius expects to expand Group Adj. EBITDA Margins from 5% in 2022 to 13% in 2023

Mark Locke, Co-Founder and CEO of Genius Sports, said: “We enter the second half of 2023 having reached a significant inflection point in our business. Following the financial outperformance in the first half of the year and the recently renewed partnerships with FDC and the NFL, we have validated our core strategy, differentiated our technology stack, and proven our sustainable business model. The ongoing success through the second quarter perfectly demonstrates our balanced approach in delivering near-term results, while accelerating Genius towards our long-term growth and profit targets.”

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IGT’s Tiger and Dragon Game Debuts in #1 Position on Eilers & Krejcik’s US & Canada Game Performance Report

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International Game Technology PLC (IGT) announced that its Tiger and Dragon multi-level progressive (MLP) game debuted in the number-one position on Eilers & Krejcik’s May 2024 US & Canada Game Performance Report in the “Top Indexing NEW Games – Premium Leased & WAP” category. Tiger and Dragon Cash on Reels took the top position by performing at more than 2.8X zone average and Tiger and Dragon Multipliers ranked third for performing at more than 2.5X zone average.

“Building on the tremendous success of IGT’s Prosperity Link and Mystery of the Lamp games, Tiger and Dragon earning this number-one position in Eiler & Krejcik’s May 2024 game performance report validates our commitment to delivering the industry’s best MLP games. Both Tiger and Dragon themes deliver compelling gameplay mechanics, vibrant graphics, and stunning merchandising that provide our casino operator partners with games that players truly love to play,” said Nick Khin, IGT Chief Operating Officer, Gaming.

IGT’s Tiger and Dragon is housed on IGT’s PeakCurve 49 cabinet and features three unique bonuses: Tiger, Dragon, and the combined Tiger and Dragon bonus. The game introduces an entirely new lock-and-respin and reveals a bonus structure featuring money ball symbols with credit values that can combine. In another new game mechanic, when gong symbols on reels land in the same row, monetary winnings are revealed. Adding to the gameplay excitement are the game’s “up arrows” that appear on reels and increase credit values exponentially.

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Live88 debuts in Buenos Aires with BetWarrior

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Live88 debuts in Buenos Aires with BetWarrior

 

Live88 has introduced its product offering with BetWarrior in Buenos Aires, following earlier regulatory approval that established it as the sole live casino studio to be licensed in the region.

The content launch sees Live88 Group provide its luxury and authentic casino experiences to players in the Argentinian province, offering effortless and flawless live versions of casino table classics.

All content is streamed locally from Live88’s dedicated studio, which currently has more than 450 dealers and 20 tables, with plans to expand further.

Live88 was the first supplier to be issued a licence to offer live casino by the Provincial Institute of Lottery and Casinos (IPLyC) earlier this year, making it the only legal provider to currently supply the product in Buenos Aires.

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BetWarrior is a leading and established operator in Buenos Aires as well as the wider LatAm region, making it a great partner for Live88 as it sets out to strengthen its foothold in the continent.

Maximiliano Majo, Head of LatAm at Live88 Group, said: “Debuting our content in Buenos Aires is a fantastic achievement for the Group and as the only licensed live casino studio in the market we are extremely proud of our committed team for

accomplishing this milestone.

“BetWarrior is a prominent brand with a wide customer base and this partnership is a great opportunity for us to reach new audiences within Latin America and enhance our commercial growth trajectory. We will continue to further grow our presence in Buenos Aires and Latin America and will look to localise our portfolio to tailor to the specific preferences of players in the region.”

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SCCG Management Announced as Title Sponsor for the 1st FightPFC Rio Challenge

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SCCG Management announced its role as the title sponsor for the highly anticipated 1st FightPFC Rio Challenge, set to take place on July 20, 2024, at Legustarecreio.

Pillow Fight Championship is the world’s first professional pillow fighting league, featuring professional fighters engaging in intense, fast-paced, and family-friendly combat. This unique sport, renowned for being a safe alternative to traditional combat sports, offers cardiovascular benefits and an exhilarating experience for participants and spectators alike.

Event Details:

Date: July 20, 2024

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Location: @legustarecreio, Rio de Janeiro, Brazil

Participation Classes:

Kids: 14 to 17 years old

Adults: 18 years and older

“SCCG Management is dedicated to helping client-partners like PFC expand their operations globally. The 1st FightPFC Rio Challenge marks a significant milestone in bringing this innovative and entertaining sport to Brazil. PFC’s growth in Brazil is part of our broader strategy to introduce unique and engaging sports entertainment experiences worldwide,” the company said.

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