Overview
- Genius will pay $900 million up front—about $800 million in cash and $100 million in stock—plus up to $300 million in earnout payments over two years.
- The company plans to fund the deal with an $850 million loan and expects leverage to remain below 3x debt-to-EBITDA after closing.
- The acquisition is slated to close in the second quarter of 2026, subject to customary approvals, and ranks as the largest deal in Genius’s history.
- Legend brings high-traffic properties including Covers.com and Casino.org, reporting 320 million annual visits from 118 million unique visitors in 2025.
- Alongside the deal, Genius posted preliminary 2025 results of $669 million revenue and $136 million adjusted EBITDA, issued 2026 guidance of $810–$820 million revenue and $180–$190 million EBITDA, and named Deutsche Bank and Goldman Sachs as advisors and committed lenders.