Caesars, Genius Sports Announce Agreement Featuring NFL Data
Posted on: September 7, 2021, 08:02h.
Last updated on: September 7, 2021, 01:50h.
Genius Sports (NYSE:GENI) said today it’s entering a partnership with casino giant Caesars Entertainment (NASDAQ:CZR), providing the gaming operator with access to the data provider’s suite of official sports data content.
Financial terms of the agreement weren’t disclosed. But Genius is becoming a Caesars’ advertising partner and will supply the casino company with marketing technology. That will be aimed at bolstering customer acquisition and retention at Caesars’ online casinos and sportsbooks.
Genius Sports data feeds will support the Caesars trading and sportsbook platform by providing access to official NFL products, including official live sports data feeds,” according to a statement.
News of the agreement arrives just two days before the start of the 2021 NFL season. Genius doesn’t operate as a consumer-facing sportsbook. Rather, sportsbook operators buy data from the company and its competitors. It’s expected those purchases will increase over time as regulated sports betting and in-game wagering increase in popularity in the US.
NFL Synergies for Caesars, Genius Sports
Football is the most wagered-on sport in the US, and the NFL is the most bet-on league. Analysts are forecasting a 2021 football handle of $20 billion or more, which could drive revenue of at least $1.5 billion for gaming companies.
Both Caesars and Genius have ties to the NFL, the most popular sports league in the US. The casino operator is one of several official sports wagering partners with the league, while Genius in April won rights to be the betting data provider to the league. It’s rumored that the six-year accord is worth $1 billion.
“In April 2021, Caesars Entertainment was selected as one of the NFL’s official sports betting partners. As an extension of that partnership, Caesars and Genius Sports now have entered into a deal to further Caesars’ official NFL-backed sportsbook offerings by leveraging NFL official data, Next Gen Stats, and other offerings,” according to the statement.
The NFL also owns an equity stake valued at roughly $450 million in Genius Sports.
More Possibilities for Caesars
Prior to the NFL pact, the Genius US footprint consisted of partnerships with the NCAA and PGA Tour, as well as non-exclusive arrangements with Major League Baseball (MLB) and the NBA. The partnership with Caesars extends beyond the NFL.
“Alongside NFL content exclusive to Genius Sports, Caesars Entertainment will gain access to official data-powered in-play content for other top-tier US and global sports, including NASCAR, English Premier League, Argentinian and Colombian soccer, as well as Liga MX,” said Genius in the statement.
Sportsbook operators are looking to diversify revenue streams beyond the staples of football and basketball. NASCAR, with its variety of wagering options, and international sports are avenues for accomplishing those objectives.
Additionally, auto racing and soccer are fertile grounds for in-game or live betting, which is expected to be a major source of growth for gaming operators in the coming years. That’s a data-intensive offering, underscoring potential advantages in the Genius deal for Caesars.
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