Why Genius Sports Shares Are Surging Today
Portfolio Pulse from Lekha Gupta
Genius Sports Ltd (NYSE:GENI) has extended its strategic deal with The National Football League (NFL) to remain the exclusive distributor of NFL's official live game data and Next Gen Stats feeds to global media and betting markets until the end of the 2027-28 season. The deal also includes the right to distribute NFL Watch & Bet low latency live game video feeds to sportsbooks internationally. GENI's shares are trading higher by 12.7% at $6.55 premarket.
July 06, 2023 | 11:25 am
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POSITIVE IMPACT
Genius Sports' extended deal with NFL is expected to boost its revenues and strengthen its market position. The news has already positively impacted the company's stock price, which surged 12.7% premarket.
The extended deal with NFL ensures Genius Sports' exclusive rights to distribute NFL's live game data and video feeds, which is a significant part of its business. This is likely to boost its revenues and strengthen its market position, leading to a positive impact on its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100