Genius Sports agreed to acquire sports and gaming media platform Legend for $1.2bn, according to the report. The deal includes an initial payment of $900m and is intended to expand Genius Sports’ media capabilities.
The acquisition would expand Genius Sports’ media operations and adds a $1.2bn transaction to its portfolio.
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Genius Sports completed its acquisition of Legend, publisher of Casino.org, Casino Guru and Covers.com, the company said. The deal was valued at up to $1.2bn, comprising $800m in cash, $100m in stock and an earnout of up to $300m over two years after closing; Genius Sports said the websites recorded 320 million visits in 2025.
Genius Sports reported 2025 revenue of $669.6m, up 31% from the previous year, and said it expects revenue to exceed $1bn by the end of 2026. Chief executive Mark Locke said the company would continue investing in prediction markets, while the acquisition of sports content and media firm Legend was described as a growth driver.
Analysts issued views on Genius Sports, Churchill Downs, Accel Entertainment and Sportradar in notes dated 3, 4 and 9 March. Truist lowered its Genius Sports price target to $13 from $15 while retaining a Buy rating; other notes discussed company performance, potential developments and forecasts.
Genius Sports raised its full-year guidance after reporting a $10.4m operating profit for the three months to 30 September 2026, compared with a $25.6m loss a year earlier. Revenue rose to $269.9m, while net loss narrowed to $15.7m; the company attributed Media growth mainly to its acquisition of Legend.
Genius Sports lifted its full-year guidance for a third straight quarter. The company reported an operating profit of $10.4m, against a loss of $25.6m the year before.
Reportedly, Genius Sports lifted its 2026 guidance after second-quarter revenue rose 64.7%. In its first quarter as a combined business with Legend, media revenue nearly tripled, while acquisition costs weighed on results.