Endeavor Reinforces Sports Betting Offering with OpenBet Acquisition

Global sports and entertainment firm Endeavor Group Holdings is moving in on OpenBet, a leading content platform and service provider for the sports betting industry owned by Scientific Games Corporation. Endeavor and SG have come to an agreement for the sale of the platform that will now be transferred to the former for the amount total of $1.2 billion.

Of this amount, $1 billion will be paid in cash, and the remainder $200 million will be paid in Endeavor’s Class A common stock. Endeavor expects to finalize the transaction in the second quarter of 2022 and will be subject to various regulatory approvals and customary closing conditions.

Bolstering Its Footprint in Sports Betting 

The deal will mark another expansion in the sports gambling industry for Endeavor, which currently owns IMG Arena and works with over 470 flagship sportsbook brands worldwide. The company provides live streaming video and data feeds for over 45,000 sports events, covering all major competitions and localized events. 

According to Endeavor, the combination of IMG Arena and OpenBet will lead to even greater dividends for consumers and sports fans, as the company will bring together an end-to-end solution that will rely on premium content, advanced mobile products, and best-in-class betting options for sports bodies, operators and federations. 

Commenting on this development, Endeavor CEO Ariel Emanuel said that the acquisition of OpenBet marks a strategic addition to the company’s broader forays into the sports gambling space. 

“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,” Emanuel added. 

Scientific Games chief executive for digital, Jordan Levin, also congratulated the company on the move explaining that OpenBet’s market-leading sports betting ecosystem will now be able to benefit from the content, sports rights, and data access available through Endeavor’s portfolio. 

Putting Consumers Front and Center in Experience 

Through this acquisition, Endeavor will be able to put consumers in the center of the experience, touting the OpenBet platform’s team and its strengths. “We are laser-focused on the rapid expansion of the global sports betting market,” Levin added. Scientific Games is committed to bolstering Endeavor’s offer, and the stock component of the deal testifies to the company’s readiness to be an active part of the future of OpenBet even after the sale is finalized. 

OpenBet remains focused on licensed gaming markets and has teamed up with some of the most significant brands in the industry, including DraftKings, FanDuel, WynnBet, William Hill, Ladbrokes, SkyBet, and others. In 2020 alone, OpenBet successfully processed three billion bets through its proprietary betting engine technology. 

OpenBet features a range of solutions, including risk management tools, player account, and wallet solutions, and more options pertaining directly to the user experience. It is also behind content products such as BetBuilder and DonBest pricing feeds. 

The platform will be further bolstered by IMG ARENA’s established footprint in the sports betting segment, as the platform is already partners with UFC, ATP, Wimbledon, The Football Association, Ryder Cup, PGA Tour, and many others.