Endeavor Group Holdings Inc. has announced that it has agreed terms on a deal that will see the group acquire sports betting company OpenBet from Scientific Games for $1 billion in cash and $200 million in Endeavor’s Class A common stock.
Endeavor currently operates IMG Arena, a solution that assists 470 worldwide sportsbooks with live streaming video and data feeds for multiple live sporting events. The company’s rights holder clients include the PGA TOUR, Ryder Cup, UFC, ATP, USTA, Wimbledon, MLS and The Football Association.
Meanwhile OpenBet’s betting engine technology is used by leading sports betting operators such as William Hill, DraftKings, FanDuel, WynnBet, SkyBet, and Ladbrokes among others.
Endeavor Agrees $1.2 Billion Deal to Acquire OpenBet from Scientific Games“OpenBet marks a strategic addition to our sports betting portfolio as we look to round out our technology and product offering for sportsbook operators and sports brands worldwide. The combination of OpenBet and our IMG ARENA business will enable us to expand our footprint across the entire sports betting value chain and further capitalize on the tremendous upside we see coming from this fast-growing global industry.”
Jordan Levin, Chief Executive of Scientific Games’ Digital business went on to add:
Endeavor Agrees $1.2 Billion Deal to Acquire OpenBet from Scientific GamesThe deal is expected to be finalized in the second quarter of 2022.
Endeavor Agrees $1.2 Billion Deal to Acquire OpenBet from Scientific Games