Genius Sports Ltd. (NYSE: GENI) rallied in pre-market trading at the time of publishing on Thursday after the technology and broadcast company extended its strategic collaboration with the National Football League (NFL). The new extended deal will extend to the end of the 2027-28 season and Genius Sports will remain the “NFL’s exclusive distributor of real-time, official play-by-play statistics, proprietary Next Gen Stats (NGS) data and the NFL’s official sports betting data feed to media companies and sports betting operators globally.”
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Currently, GENI powers 98% of the legalized sports betting market in the United States with official NFL data. In addition, according to the company’s press release, this extended partnership will also give GENI the exclusive right to “distribute official NFL Watch & Bet low latency live game video feeds to sportsbooks internationally,” and starting with the 2023-24 season, the company has a multi-year agreement with the NFL to “distribute Watch & Bet in the U.S. and Canada.”
Overall, analysts are bullish about GENI stock with a Strong Buy consensus rating based on a unanimous six Buys.
