Industry News
Genius Sports Reports Third Quarter Results
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 third quarter ended September 30, 2023.
Highlights
- Group Revenue of $102m, exceeding third quarter guidance of $100m and representing 29% year-on-year growth.
- Group Net Loss of ($12m) and Group Adj. EBITDA of $18m, exceeding third quarter guidance of $17m and representing 131% year-on-year growth.
- Third quarter Group Adj. EBITDA margins improved by 770 basis points year-on-year.
- Raising 2023 Group Revenue and Adj. EBITDA guidance for the third consecutive quarter to $412m and $53m, respectively.
- Reaffirming expectation for positive free-cash-flow in the second half of 2023.
“Our consistent outperformance reflects the execution of our core strategy as we continue to develop and distribute innovative technology across the sports ecosystem, enabling success for our partners, and further solidifying our long-term strategic position,” Mark Locke, Co-Founder and CEO of Genius Sports, said.
“We have reached a critical turning point in our business as we have realized consistent margin expansion in each quarter this year and now have much higher visibility into our long-term model following the renewals and extensions of key rights partnerships,” Nick Taylor, CFO of Genius Sports, said.
Industry News
Christian Reinhard Becomes New Board Member for Technology and Development at Merkur Group
The Merkur Group has welcomed Mr. Christian Reinhard as the new Board Member for Technology and Development. Reinhard, a 50-year-old computer science graduate, succeeds Werner Kurt Schroer, who resigned from his position on the Board for health reasons after almost 19 years of successful service, but will continue to be available to the Group as an advisor.
“We would like to thank Mr. Schroer for the extraordinarily successful years we have spent together. At the same time, we are delighted to welcome Mr. Reinhard to the board of directors. By appointing Mr. Reinhard as the board member responsible for technology and development, we are ensuring continuity in the area of development that is so important for the group of companies, while also creating space for fresh ideas. We wish Mr. Reinhard every success in his new role and always the necessary bit of luck,” said company founder and board spokesman Paul Gauselmann.
Christian Reinhard has over 20 years of experience in the series development of automotive electronics. In his career to date, he has developed a wide range of technologies, including navigation systems, cluster instruments, driver assistance systems and vehicle networking systems, which are now installed in numerous vehicles worldwide.
In addition to his technical expertise, Reinhard has more than 15 years of experience in managing and structuring internationally distributed development teams, such as those in the Merkur Group. Most recently, he was responsible for a team of 3500 developers and played a key role in the development and release of safety-critical systems that, like the vending machine industry, are subject to strict regulatory requirements.
Christian Reinhard said: “After dedicating my 23-year career to developing high-quality mobility experiences, I am looking forward to a new challenge in a dynamic and creative environment. I am particularly fascinated by the gaming industry because of the collaboration between a wide variety of disciplines – art, design, mathematics, programming, data security and electronics development – and the opportunity to create unforgettable moments of entertainment and joy in the game.”
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Industry News
Applications invited to become safer gambling charity for 2025 editions of ICE, iGB Affiliate and iGB L!VE
Safer gambling organisations from throughout the world are being invited to apply to become Clarion Gaming’s official charity partner for 2024/25.
The successful charity will benefit from unprecedented levels of interest in the Clarion Gaming brands with the 2025 editions of ICE (20th – 22nd January) and iGB Affiliate (20th – 23rd January) making the historic move to the Fira Gran Via Barcelona and iGB L!VE taking place at ExCeL London (1st– 4th July).
Interested organisations, who will benefit from unrivalled branding and networking opportunities at three of gambling’s most dynamic live events are being asked to provide an overview of how they would deploy the partnership to help address specific challenges together with their mission and vision for the future.
Clarion Gaming has set a deadline of 30th September for the receipt of applications with the partnership becoming effective in October and running through to 1st August 2025.
Stuart Hunter, Managing Director, Clarion Gaming said: “I’m extremely proud of the fact that Clarion Gaming was the first expo organiser to introduce an annual charity partner program, an initiative which followed our ground-breaking incorporation of a show floor feature exclusively for safer gambling. The Consumer Protection Zone which launched at ICE 2018 has grown and evolved year-on-year.
“In keeping with the very latest thinking on safer gambling the concept has been rebranded as the Sustainable Gambling Zone and will have a high profile presence at both ICE Barcelona and iGB L!VE London.”
He added: “The partnership with Clarion Gaming will see the successful charity confirmed as an ICE Ambassador, receive widespread branding at the 2025 editions of ICE, iGB Affiliate London and iGB L!VE, be part of the official opening ceremonies for each event, receive recognition in Show Guides and on the dedicated event websites, attend as guests at the many VIP networking events, have fundraising visibility including an advertising presence in the ICE Show Daily newspaper and profiling in our extensive pre-show PR and comms campaigns.”
Organisations wishing to apply to become the third Clarion Gaming Charity Partner following in the footsteps of YGAM and the International Center For Responsible Gaming should visit icegaming.com/
The post Applications invited to become safer gambling charity for 2025 editions of ICE, iGB Affiliate and iGB L!VE appeared first on European Gaming Industry News.
Industry News
BlueOcean Gaming Wins Best Aggregator 2024 Award at SiGMA East Europe Awards
BlueOcean Gaming has announced that its leading product, GameHub, has won the Best Aggregator 2024 Award at SiGMA East Europe Awards.
“This recognition is a significant milestone for BlueOcean Gaming, highlighting the strength and innovation of GameHub—our leading game aggregation platform. GameHub has set a new standard in the iGaming industry by seamlessly integrating over 140 providers and offering a vast library of more than 13,000 games, including slots, live casino games, virtual sports, and sportsbooks,” the Company said.
“A heartfelt thank you goes out to SiGMA World for acknowledging the hard work and dedication that has gone into making GameHub a standout product. The SiGMA East Europe Awards shines a spotlight on the most impactful projects and the visionaries driving change across the gaming industry, and we are incredibly honored to be a part of this movement.
“This achievement wouldn’t have been possible without the support of our amazing partners and clients, whose trust motivates us to continuously innovate. Most importantly, a huge round of applause goes to the entire BlueOcean Gaming team. Your dedication and passion for delivering top-tier, trustworthy solutions are the driving force behind this success.
“As we celebrate this incredible win, let this award be a source of inspiration, pushing us to aim even higher, continue our journey of innovation, and reach greater heights in the iGaming industry.
“We look forward to what’s ahead and to continue providing our partners and clients with the best solutions available in the market.”
The post BlueOcean Gaming Wins Best Aggregator 2024 Award at SiGMA East Europe Awards appeared first on European Gaming Industry News.
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