Genius Sports Group Ltd., a UK betting-data company Merged with a blank-check company to start trading on the New York Stock Exchange for billion 1.5 billion, targeting U.S. growing industries
London-based Genius Sports collects and distributes sports data that forms the backbone for sports betting. The company works with organizations such as Soccer’s English Premier League and PGA Tour.
The companies said in a statement that special-purpose acquisition company DMY Technology Group Inc. The deal with II is expected to close in the first quarter of 2021. The Wall Street Journal previously reported a planned tie-up.
U.S. casino operators and digital-betting companies have partially shut down the brick-and-mortar casino epidemic, in part. Has made a series of investments and public spinoffs this year in search of online and sports markets. Betting is now legal in 22 states and the District of Columbia. Analysts predict that more states will soon legalize the industry in search of additional tax revenue.
S.A.P.A.S. Or blank-check companies – such as DMY. Goes public and collects money and then acquires usually two years for acquisition target hunting. About half of the money raised by early public offerings in 2020 went to SPAC. Is, according to data provider Dale alog Geek, and SPAC. So the rush is helping to make it the largest for IPO funding this year, which will already eclipse the dot-com boom years. Turn of the century.
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