Boy Catches the 'Holy Spirit' After Trying Pumpkin Pie for the First Time.100-Year-Old Grandma Gets Emotional at Seeing Hometown in Virtual Reality.For example, a slew of early investors dumped or trimmed stakes in DraftKings (NASDAQ:DKNG) over the past 15 months.
This has been seen across the sports betting universe dating back to last year. It’s common for early investors to sell stakes in emerging growth companies and those that come to market via blank check deals. Genius became a freestanding public company in late April, following a merger with special purpose acquisition company (SPAC) dMY Technology Group, Inc. For example, in July, the NHL and Switzerland-based Sportradar reached a 10-year agreement, and the league can take a stake of up to 1.8 percent in that data provider. The league is generally a passive, long-term investor.Īrrangements of this kind are becoming common in the sports betting data space. (NYSE:SKLZ), Fanatics, and On Location Experiences. In addition to the stake in Genius, the NFL owns equity in Sportradar (NASDAQ:SRAD), Skillz Inc. It’s expected those purchases will increase over time, as regulated sports betting and in-game wagering increase in popularity in the US. Rather, sportsbook operators buy data from the company and its competitors. Genius doesn’t operate as a consumer-facing sportsbook. The league received equity in the company as part of a six-year agreement struck with Genius earlier this year, by which the firm becomes the exclusive provider of the league’s data. That’s equivalent to 5.3 percent of the company.Īs reported by Sportico, the league is receiving 22.5 million warrants, meaning it can eventually control more than 10 percent of Genius and own more of the stock than CEO Mark Locke. Through NFL Enterprises, the league’s venture capital arm, the NFL controls 11.25 million shares of Genius stock, based on warrants that can be exercised within 60 days. The SEC document indicates Ballmer and Tsai are liquidating their entire stakes in Genius. Investors include are a pair of NBA owners: Steven Ballmer, owner of the Los Angeles Clippers, and Joe Tsai, owner of the Brooklyn Nets. The securities covered by this prospectus include (i) 911,149 ordinary shares issued to certain securityholders in connection with the FanHub Acquisition (as defined below), (ii) 5,213,792 ordinary shares issued to certain securityholders in connection with the Second Spectrum Acquisition (as defined below) and (iii) 499,998 ordinary shares issued to certain securityholders in connection with the Spirable Acquisition,” according to the regulatory document. Some of those shares are being sold in connection with various acquisitions the sports betting data provider made. Insiders and investors are selling 6,624,939 million shares of Genius stock at a maximum price of $19.05 a share for $126.2 million in proceeds, according to the Form F-1 filing. The NFL is a major owner of Genius stock. Genius Sports CEO Mark Locke, seen in an interview above. They also revealed that the NFL is one of its largest shareholders. In a filing with the Securities and Exchange Commission (SEC), Genius Sports (NYSE:GENI) revealed some insiders and early investors at the company are selling more than 6.62 million shares of stock. Financial, Gaming Business, Mergers and Acquisitions.