Press Releases
Genius Sports Group to go public through combination with NYSE-listed dMY Technology Group II
- Pro forma enterprise value of the merger of approximately $1.5 billion
- Transaction includes a $330 million fully committed private investment (“PIPE”) anchored by institutional and experienced industry investors
- The combined company is expected to have approximately $150 million of growth capital (assuming no redemptions) and a substantially debt-free balance sheet to accelerate its U.S. and international expansion through organic growth and strategic acquisitions
- dMY II shareholders, GSG shareholders and PIPE investors will hold shares in NYSE-listed combined company
- dMY II’s Chairman and dMY II’s CEO will serve on combined company’s Board of Directors
Genius Sports Group Limited (“GSG” or the “Company”), the leading provider of sports data and technology powering the sports, betting and media ecosystem, and dMY Technology Group, Inc. II (NYSE: DMYD) (“dMY II”), a publicly traded special purpose acquisition company, today announced that they have entered into a definitive business combination agreement (the “Business Combination Agreement”) pursuant to which GSG and dMY II will combine. As a result of the business combination, GSG and dMY II shareholders will exchange their shares for shares in a new combined company (“NewCo”), which will be publicly listed on the New York Stock Exchange (the “NYSE”). The transaction implies a pro forma enterprise value of approximately $1.5 billion. Upon closing, NewCo expects its ordinary shares and warrants to trade on the NYSE under the symbols “GENI” and “GENI WS”, respectively.
In addition to the approximately $276 million held in dMY II’s trust account (assuming no redemptions by dMY’s public stockholders), a group of institutional and experienced industry investors has committed to participate in the transaction through a common stock PIPE of approximately $330 million at $10.00 per share.
Genius Sports Group Highlights
GSG acquires data from sports events around the world and supplies it to sports betting operators, providing them with secure, high-quality, mission critical data and content that helps them better engage with and protect their customers. The Company has a leading portfolio of rights to official data – the feed of live sports statistics that is sanctioned, and otherwise owned, by the relevant governing league. GSG provides data on over 240,000 events each year – effectively every hour of every day. It is the official provider for over 170,000 of these events.
GSG’s scale, access to official data, and innovative technology platform differentiate it within the industry. The Company maintains long-term partnerships with over 500 sports organizations globally, including the NBA, NCAA, FIBA, FIFA, English Premier League and NASCAR. Its proprietary technology and data feeds are mission critical to the success of its sportsbook partners.
Management & Governance
Following the closing of the proposed business combination, Mark Locke will continue to lead the business as Chief Executive Officer of NewCo. Mr. Locke will be supported by a deep bench of talent with substantial experience across finance, technology and the sports betting industry.
NewCo’s Board of Directors will include dMY II’s Chairman Harry You and dMY II’s CEO Niccolo de Masi. Mr. You is the former EVP of EMC and previously served as the CFO of Accenture and Oracle. Mr. de Masi is the current Chairman and former CEO of Glu Mobile (NASDAQ: GLUU), a leading developer and publisher of mobile games for smartphone and tablet devices.
“Genius Sports Group created the market for official data across all tiers of sports, helping fuel our sportsbook partners’ ever-increasing range of products,” said Mr. Locke. “This transaction will help us continue to expand and strengthen our position as a nexus of the global sports, betting and media ecosystem.”
“Elemental data provider Genius Sports Group benefits from the growth of all participants in the global sports betting market. Mark Locke has pioneered the provision of official rights and live data which have been instrumental in building the modern sports betting market,” said Mr. de Masi. “The company has a strong track record of growth and we are very excited by the opportunities for further expansion in this rapidly growing segment.”
Key Transaction Terms
The transaction values NewCo at an anticipated initial enterprise value of approximately $1.5 billion, or 8.0x GSG’s currently projected 2021 revenue of $190 million.
The consideration payable to GSG’s existing shareholders will consist of a combination of cash and rollover equity in NewCo. The proceeds of the $330 million PIPE transaction will be used to repay shareholder loans and to redeem and make certain preference share payments on preferred shares held by corporate shareholders.
Assuming no redemptions by dMY II’s public stockholders, it is anticipated that NewCo will have approximately $150 million of unrestricted cash and a substantially debt-free balance sheet at closing.
The Boards of Directors of both dMY II and GSG have unanimously approved the transaction. The transaction will require the approval of dMY II’s stockholders, and is subject to other customary closing conditions, including a minimum cash condition. The transaction is expected to close in Q1 2021.
An investor webcast and presentation detailing the transaction will be available at www.geniussports.com and www.dmytechnology.com. The transcript of the investor webcast and the presentation will be filed by dMY II with the U.S. Securities and Exchange Commission (“SEC”) as exhibits to a Current Report on Form 8-K, and available on the SEC’s website at www.sec.gov. In addition, NewCo intends to file a registration statement on Form F-4 with the SEC, which will include a proxy statement/prospectus of dMY II, and will file other documents regarding the proposed transaction with the SEC.
Advisors
Godman Sachs & Co. LLC is acting as exclusive financial advisor to dMY II. Oakvale Capital LLP is acting as exclusive financial advisor to GSG. Goldman Sachs & Co. LLC acted as lead placement agent for the PIPE transaction. Credit Suisse Securities (USA) LLC and Oakvale Capital LLP also acted as capital markets advisors and placement agents for the PIPE transaction. Kirkland & Ellis LLP is serving as legal advisor to GSG. White & Case LLP served as legal advisor to dMY II. Goldman Sachs & Co. LLC acted as the sole bookrunner of dMY II’s IPO; Needham & Co. also acted as underwriter.
BETBY, the premium supplier of cutting-edge sportsbook solutions, has published a detailed report titled “The Peruvian Breakthrough: A Market Ready for Takeoff”, offering a thorough analysis of the country’s newly regulated iGaming industry.
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Latest News
BetOnline Expands Sportsbook Betting Site Services and Product Offerings for California Users
BetOnline bonuses has announced an expansion of its betting services tailored for sportsbooks users in California, reflecting ongoing trends in digital wagering and increased demand for accessible online sports platforms. The company’s latest updates include enhanced mobile features, expanded betting markets, and streamlined payout processes designed to support both recreational and experienced bettors across the state.
The updated platform allows users in California to access a wide range of wagering options across major sports leagues, including the NFL, NBA, MLB, and NHL, as well as emerging sectors such as esports and international competitions.
Recent Platform Enhancements
– Expanded Payment Methods: BetOnline now supports a variety of withdrawal options, including cryptocurrency (Bitcoin, Ethereum), wire transfers, and e-checks. Crypto transactions are typically processed within 24–48 hours.
– Improved Live Betting Interface: Users can now place real-time wagers during games with an upgraded mobile experience and access to live odds across multiple sports.
– Bonus and Promotional Features: As part of its rollout, BetOnline continues to offer various promotions to eligible users, including deposit-based bonuses and reload incentives. California residents can review current welcome offers when setting up their accounts.
– Customer Support Upgrades: With 24/7 support via live chat, phone, and email, users can access assistance at any time regarding account services and transaction-related inquiries.
California sports fans can explore BetOnline’s current welcome offers and join thousands of users already engaging with their favorite teams through the platform’s enhanced betting experience.
Market Context
California remains one of the largest markets for sports entertainment and fan engagement. The state’s diverse sports landscape—from professional franchises to college athletics—makes it a key focus area for companies operating in the online betting and digital gaming space.
A spokesperson for BetOnline stated:
“As we continue to improve our services nationwide, California represents a significant user base. Our latest updates are focused on delivering a secure and user-friendly experience, consistent with emerging digital betting standards.”
With California’s rich sports culture spanning professional leagues to college athletics, BetOnline’s enhanced platform offers residents new ways to connect with the games they love. Interested users can discover current promotions and explore the expanded betting options available through the updated service.
For California Sports Fans
The platform’s expansion brings new opportunities for sports enthusiasts to engage with their favorite teams. Eligible users can explore current promotional offers and experience the enhanced betting features now available statewide.
Latest News
Yaamava’, Palms and AGS Celebrate First-Ever Dual Property World Premiere of Mariachi Fortunes Trio™ in Southern California and Las Vegas
AGS, a global gaming supplier, partnered with Yaamava’ Resort & Casino at San Manuel in Southern California and Palms Casino Resort in Las Vegas to debut its newest slot family, Mariachi Fortunes Trio™, in a first-of-its-kind, bi-state world premiere.
On July 22, each property hosted a launch celebration inspired by one of the game’s two energetic themes. Yaamava’ Resort & Casino showcased Fiesta de los Vivos™ (the festival of the living) in a vibrant daytime event, while Palms Casino Resort brought Fiesta de las Calacas™ (the festival of the skeletons) to life with a nighttime celebration. Both themes are now live at both properties, inviting guests to explore the dual worlds of the living and the departed through thrilling gameplay.
The premiere transformed both casino floors into lively Mexico-style plazas with themed slot banks, folklorico dancers, live mariachi bands, decorated street carts, and larger-than-life visuals that brought the game’s festive setting to life. Club Serrano members at both Yaamava’ Resort & Casino and Palms Casino Resort received themed giveaways and were among the first to experience Mariachi Fortunes Trio.
“This premiere is a true celebration of innovation and partnership,” said Mark DeDeaux, Senior Vice President and General Manager, Slots, AGS. “Mariachi Fortunes Trio builds on the success of Piñata Pays, one of AGS’ best-performing games of all time and takes it even further with a more immersive theme, richer features, and broader bonus combinations. The dual themes of the game made Yaamava’ and Palms the perfect partners to launch this experience. With both properties under San Manuel’s leadership and a shared focus on delivering bold, unforgettable player experiences, this two-state debut brings the full story of the game to life in a way only they could.”
“From California to Las Vegas, Club Serrano members are the very first to dive into the electrifying world of Mariachi Fortunes Trio™, the thrilling new slot franchise from our incredible partners at AGS,” said Peter Arceo, Chief Gaming Officer for the Yuhaaviatam of San Manuel Nation. “This groundbreaking dual-state world premiere is more than just a launch—it’s a fiesta of immersive gameplay, vibrant visuals, and nonstop excitement. Mariachi Fortunes Trio™ cranks up the energy on our gaming floors at Yaamava’ Resort & Casino and Palms Casino Resort, delivering unforgettable moments and heart-pounding fun our guests will love.”
Mariachi Fortunes Trio will be available exclusively at Yaamava’ and Palms for a limited time before expanding to casino floors across North America.
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