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Genius Sports Limited confirms a $1.2 billion deal to acquire sports and gambling media network Legend, creating a “fully integrated sports and gaming media network”.

Genius Sports announced the $1.2 billion acquisition of Legend on February 5, with $900 million paid out at closing and an earnout of up to $300 million. The big-figure deal is anticipated to bring in $1.1 billion in Group Revenue for Genius Sports, as well as between $320 and $330 million in Group Adjusted EBITDA with approximately 50% free cash flow.

This is a historic day for Genius Sports as we announce the acquisition of Legend.Together, we are the only company operating at scale across both official sports data, and media and advertising.Read the press release: https://t.co/VII9AOajzR pic.twitter.com/rxIT762TNJ— Genius Sports (@GeniusSports) February 5, 2026

The company is eyeing Legend’s monetization of sports audiences across its network, making mention of “world-class marketing technology powering owned and operated digital properties” and partnerships with major media brands like Sports Illustrated and Yahoo Sports. It seems that Genius Sports is looking to expand its reach further, tapping into Legend’s connections with existing sportsbooks, gambling products, and advertisers as the sports betting industry continues to thrive in the US.

“This deal accelerates our strategic and financial objectives, supercharges fan monetization, and builds a fully integrated sports and gaming media network,” said CEO of Genius Sports Mark Locke. “For Genius Sports and our global partners, it delivers more data, more audience, more inventory and greater monetization of sports fans. The acquisition of Legend will drive higher margins and stronger free cash flow, positioning Genius Sports to immediately transform the market and grow the size and scale of our business.”

What will this partnership look like in practice?

The press release suggests that Genius Sports will seek to blend Legend’s network into FANHub, the company’s sports fan activation platform.

“Joining forces with Genius Sports brings together two world-class teams, unlocks unparalleled growth opportunities for our partners and products, and gives us an even stronger platform to scale,” said Nick Kisberg, founder of Legend. “I am immensely proud of what we have built and the decades of hard work that have brought us here today.”

Genius Sports stock is down about 10% at market open after the acquisition of gaming affiliate marketing and media company Legend pic.twitter.com/Mu2zsylmrW— Dustin Gouker (@DustinGouker) February 5, 2026

Despite the move, Genius stock Shares plunged 28% to $6.16 midday Thursday.

Featured image: Genius Sports / Legend
The post Genius Sports set to buy gambling media brand Legend in $1.2B deal appeared first on ReadWrite.

Illinois authorities have sent more than 60 cease-and-desist letters to alleged illegal online casino and online sweepstakes gaming platforms operating in the state.

The Illinois Gaming Board (IGB) and the state Attorney General’s office have joined forces to issue over 60 cease-and-desist letters to companies that are allegedly operating illegal online casino and online sweepstakes gaming platforms in the region. The notices demand that the recipients cease all operations and block residents from accessing their services immediately.

BREAKING: Illinois Gaming Board and Illinois Attorney General issue more than 60 cease-and-desist letters to companies operating illegal online casinos and/or online sweepstakes casinos. Letters sent to VGW, High 5 Casino, Fliff, JefeBet, Modo, Pulsz, Sportzino, Pulsz, and Stake. pic.twitter.com/RIsvm1FAP2— Daniel Wallach (@WALLACHLEGAL) February 5, 2026

If the warnings are not heeded, civil and criminal penalties could be next in line for the operators. Any games that award money or other prizes of value are prohibited under the state’s law.

“Illegal online gambling operations threaten consumer protections, undermine responsible gaming safeguards, and are antithetical to the public’s interest in regulated gaming,” said IGB Administrator Marcus D. Fruchter in a public statement. “The IGB will continue to evaluate all available regulatory and law enforcement tools to combat illegal gambling and to protect Illinoisans.”

Gambling in Illinois

In the middle of last year, Illinois introduced a per-bet gambling tax, sparking warnings about a potential rise in illegal operators. Generally speaking, the state has a fairly strict approach to gambling, only allowing regulated betting for licensed riverboat casinos, land-based casinos holding an owner’s license, racetracks with organizational gaming licenses, sportsbooks licensed under the Sports Wagering Act, and video gaming licensees licensed under the Video Gaming Act.

“The law is clear: Gambling in Illinois must be properly licensed and regulated,” said Attorney General Kwame Raoul. “Unlicensed gaming operators put Illinois consumers at risk and undermine the integrity of our regulated gaming market. We will continue to work with the Illinois Gaming Board to protect our residents and hold illegal operators accountable.”

The IGB offers a list of licensed and approved sportsbooks, casinos and video gaming operators on its website, urging Illinois residents to only use regulated gambling operators..

Featured image: Unsplash
The post Illinois Gaming Board sends over 60 cease-and-desists to illegal sweepstakes platforms appeared first on ReadWrite.