In his new role, Rob Pietroforte will be responsible for overseeing all M&A activity at Genius in connection with its ongoing listing on the New York Stock Exchange (NYSE).
Upon the completion of the transaction, Genius is expected to have approximately $150m of unrestricted cash available to support its expansion efforts both domestically and globally.
Pietroforte will be joining Genius from the merchant bank The Raine Group, where he played a key role in several major transactions, including the sale of Major League Soccer team DC United.
Prior to his time with Raine, Pietroforte worked in the Sports and Entertainment Group at JPMorgan Chase, where he was involved in negotiating significant sponsorship deals with Madison Square Garden, the US Open, and iHeartMedia.
“I have always admired the achievements of the Genius team over the past two decades and I believe they are leading the way in the convergence of media and sports betting,” said Pietroforte. “As the platform that powers the real money gaming ecosystem, there is tremendous potential ahead of us, and I am excited to get started.”
Genius CEO Mark Locke expressed his enthusiasm for Pietroforte’s appointment, stating, “We have a proven track record of successfully acquiring businesses with great potential that have complemented and expanded the global Genius offering. Rob’s extensive experience in M&A within the sports, betting, and media industries makes him an excellent fit for our team, and I look forward to working with him to acquire and integrate innovative companies that can help accelerate our growth during this critical time.”
