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The partnership expands after a successful launch of official NFL data in sports betting, media, and broadcast. This redefines fan engagement. Genius Sports dominates 98% of the U.S. sports betting market with official NFL data, driving innovations like player props, micro-betting, and personalized ads. NFL’s NGS data feed enhances broadcasts through Second Spectrum’s augmentation engine, benefiting fans and broadcasters globally.
The extended partnership grants exclusive rights to distribute official NFL Watch & Bet live game video feeds to international sportsbooks. Genius Sports and the NFL have agreed to a multi-year deal starting from the 2023-24 season to distribute Watch & Bet in the U.S. and Canada.
Following the news, Craig-Hallum analysts lifted their price target on the stock to $12 from $10, suggesting more than 100% upside from yesterday’s closing price of $5.81. The news removes the biggest risk and overhang, the analysts said.
“This extension and expansion with the NFL removes the biggest risk and stock overhang given it is GENI’s most important league partnership,” the analysts commented. “In addition to its extension/expansion with Football DataCo (English & Scottish soccer) in late June, we believe this agreement supports our thesis that GENI is a value-add technology partner which is becoming increasingly important for league partners and sportsbook/media customers highlighted by the fact that neither league ran a competitive bid process. The relationships are becoming deeper with greater technology integrations and longer in duration. Our conviction remains high in the company and the stock.”
