Lamar Jackson of the Baltimore Ravens, left, stiff arms the Kansas City Chiefs’ Juan Thornhill at Baltimore’s M&T Bank Stadium on Sept. 28, 2020.
Todd Olszewski | Getty Images
Genius Sports, the tech company that now owns the National Football League’s main information rights, finished its merger with unique function acquisition business dMY Technology Group.
The SPAC’s investors authorized the the $1.5 billion handle Genius Sports on Friday. Genius will trade on the New York Stock Exchange under the ticker sign GENI beginning Wednesday.
Genius stated it gets in the general public market “with over $145 million in cash and no financial debt on the balance sheet” as it wants to take advantage of worldwide sports wagering, consisting of a growing U.S. market. Goldman Sachs approximated last month the U.S. sports wagering market will deserve almost $40 billion by 2033.
“As Genius Sports enters an exciting new chapter in its history, we are uniquely positioned at the heart of the world’s sports, betting and media ecosystem,” Genius Sports CEO Mark Locke stated in a declaration. “Our merger with dMY II and listing on the NYSE are a testament to the enormous opportunity ahead of us as we leverage our unique scale, drive innovation and deliver products that help our partners create new and immersive experiences for sports fans around the world.”
Genius Sports gets in the NYSE after settling among the most desired information rights arrangements in sports.
NFL and Genius Sports consented to a four-year offer on April 1, making Genius the main information service provider for NFL video games. Under the pact, Genius will disperse real-time play-by-play statistics, the league’s “Next Gen Stats” and will supply sports wagering information feeds to media business and sports wagering companies locally and worldwide.
This is a May 16, 2018, file picture revealing then-Turner Broadcasting President David Levy going to the Turner Networks 2018 Upfront in New York.
Evan Agostini | Invision | AP
The business likewise has collaborations with other leagues, consisting of the National Basketball Association, Major League Baseball, PGA Tour and the NCAA. Top wagering business Flutter Entertainment — which owns FanDuel — DraftKings, Caesars’ William Hill, MGM’s BetMGM and PointsBet usage Genius’ information.
The business called previous Turner Sports employer David Levy as its brand-new chairman on March 25. Levy will serve on the business’s board together with dMY Chairman Harry You and CEO Niccolo de Masi.
“With its proprietary technology, unparalleled access to data and growing network of partnerships, (Genius) is powering the global sports, betting and media ecosystem,” de Masi stated. “What’s more, the company benefits from a strong competitive moat and clear, promising growth opportunities that should drive compelling value for shareholders over the long-term.”
Shares of dMY Technology Group dropped about 16% on Tuesday.
 Disclosure: CNBC moms and dad Comcast and NBC Sports are financiers in FanDuel.
