Genius Sports Group has inked a data partnership with Wynn Resorts’ online sportsbook which will cover three US states.
Sports data supplier Genius Sports Group has struck a multi-state data partnership with Wynn Resorts’ online sportsbook brand WynnBet.
Genius’ deal with WynnBet
The deal will see Genius supply WynnBet with its LiveData and LiveTrading services which will be used to power WynnBet’s in-play betting products across New Jersey, Colorado and Michigan, the three states where Wynn’s betting product is currently live.
On top of this, the partnership will include Genius’ official data content for hundreds of sporting events, including the English Premier League, other major global football leagues and Euroleague Basketball.
Genius will also provide Wynn with data for the 2021 NASCAR Cup Series, of which WynnBet is already an official gaming partner.
Jack Davison, Chief Commercial Officer at Genius Sports Group, said: “Along with its broad market-access and nationally-recognizable brand name, Genius is an ideal partner to enhance WynnBET’s expanding online sportsbook and in-game betting offering. With growing numbers of states introducing online betting regulation, in-game handle is quickly rising – and WynnBET recognizes the direct engagement and revenue benefits of official data in this landscape.”
Genius and WynnBet continue US expansion efforts
The partnership with WynnBet marks Genius’ latest effort to expand its presence in the US gambling market.
The data supplier currently has a foothold in 11 US states after it received licenses to offer it products in Michigan and Virginia last month. So far, Genius is partnered with the PGA Tour, NCAA and the global basketball federation, FIBA.
Genius is also preparing to go public on the New York Stock Exchange with a valuation of $1.5bn via a merger with the special purpose acquisition company dMY II. The deal to take the company public was first announced in October 2020 and has been approved by both boards, but still requires approval from dMY’s shareholders.
Meanwhile, WynnBet is gearing up for rapid expansion in the US sports betting market in 2021. The operator currently has market access opportunities in several states including Indiana, Nevada, Massachusetts, Ohio and Iowa. Earlier this month Wynn also received conditional approval to offer sports betting in the state of Tennessee.
The operator has also submitted an application to offer sports betting in the state of Virginia.
Wynn is also preparing to raise additional funding for the business via a new share sale that was announced in early February. The US gambling giant launched an underwritten public offering of 5.5m shares of its common stock along with an option to purchase an additional 825,000 shares.
Wynn expects to raise approximately $630.6m from the sale of its 5.5m shares, based on a public offering price of $116.99 per share. This could increase to $725.2m if the additional 825,000 shares are sold.