The sports data company ‘Genius Sports’ is closing its office in Lithuania

The sports data company ‘Genius Sports’ is closing its office in Lithuania
The sports data company ‘Genius Sports’ is closing its office in Lithuania
--

The international sports data service provider for professional sports leagues, bookmakers and media “Genius Sports” plans to close its office in Lithuania, company representatives confirmed to the business portal “vz.lt”.

Content will continue after the ad

Advertising

“We have started layoff consultations with some of our employees in Vilnius, and we will transfer part of our operations from there to other offices,” the company informed.

Genius Sports partially justified the decision with the losses of the US-based parent company.

Genius Sports, whose shares are listed on the New York Stock Exchange, opened an office in Vilnius in 2015. Currently, 105 people work in the Vilnius office, according to the data of the Lithuanian Social Insurance Fund (“SoDra”).

Worldwide, Genius Sports has 1,800 employees in offices in Tallinn, New York, Los Angeles and elsewhere. The company’s clients include the International Basketball Federation (FIBA), the National Collegiate Athletic Association (NCAA), the auto racing league NASCAR and others.

In May, “Genius Sports” informed that in the first quarter the turnover of the group reached 85.923 million US dollars (85.1 million euros), which is 59.9% more than in January-March 2021, however, the losses increased to 40.198 million dollars compared to 1.199 million dollars in losses in the first three months of 2021.


The article is in Latvian

Tags: sports data company Genius Sports closing office Lithuania

-

NEXT Where do people in the countryside take shelter at “X” hour?