Betgenius will become part of the new Genius Sports Group, which has been created to reflect the diversity of Betgenius.
Betgenius will become one of the Group’s business verticals and will continue to focus on developing bespoke B2B betting solutions for operators, the company said in a press release.
The restructuring will also focus on the Group’s data capture and distribution, monitoring and analytics businesses including Sport Integrity Monito.
Betgenius designs, builds and implements innovative technologies that power bookmakers, lottery operators and casinos. Sport Integrity Monitor provides integrity solutions to sports governing bodies and rights holders such as consultancy, risk assessments, education workshops and global betting market monitoring.
The new group will keep the existing Betgenius leadership team to preserve continuity, the company said.
“Over the past 12 months, Betgenius has achieved remarkable growth and has evolved to include new offerings to the market, including the industry’s first comprehensive B2B eSports in-play and pre-match betting product,” said Mark Locke, CEO of Genius Sport Group. “The launch of Sport Integrity Monitor in 2014, also demonstrates our strategic vision and ambitious goals for the coming years. The creation of Genius Sports Group is a significant part of our long-term strategy to differentiate ourselves further in the market and continue to launch value-adding products.”
The company also announced a debt partnership deal with Three Hills Capital Partners. The new deal will see the private equity firm invest £10 million through a combination of debt and equity to help Genius Sports Group diversify its product range, bolster its growth plans into new territories and finance strategic acquisitions, the company said in a press release.
