Grandstand shares gained 20% in the week covered by the report after the company released its second-quarter results. Revenue fell 5% year on year to $37.8m, while Grandstand maintained its full-year revenue guidance of $165m–$170m and adjusted EBITDA guidance of $45m–$50m.
The retained guidance and reported revenue decline provide investors with updated performance indicators for Grandstand.
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Genius Sports chief executive Mark Locke told investors that the company provides data, settlement and integrity services to prediction-market platforms, and data and pricing to market makers. Locke said Genius Sports already has agreements with Kalshi and Polymarket and argued that demand for sports wagering could persist even if individual platforms struggle. The company also serves traditional sportsbooks through its data and media businesses.
Genius Sports chief executive Mark Locke said prediction-market activity could create opportunities for traditional betting suppliers even if regulation changes the sector. He said demand for sports wagering would persist, while the article reports that Kalshi’s retail demand was concentrated in states without online sportsbooks, citing July figures from Eilers & Krejcik.
It was reported that Genius Sports secured partnerships with Kalshi and Polymarket. Chief executive Mark Locke said the growth of prediction markets benefits Genius Sports.
Genius Sports chief executive Mark Locke said prediction-market growth was accelerating benefits from its Legend acquisition. He cited customer-acquisition demand, official data and commercial agreements with Kalshi and Polymarket during the second-quarter earnings call.
It was reported that Sportradar’s second-quarter revenue rose 19% to €378m. Adjusted EBITDA also increased 19%, reaching €76m.