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Endeavor Group Holdings is set to buy OpenBet, a sports betting company, for $1.2 billion.
Endeavor will pay $1 billion in cash and $200 million in common stock to Scientific Games Corporation. The deal will complement Endeavor’s footprint in sports betting anchored by IMG Arena, which works with over 470 sportsbook brands worldwide to deliver official live streaming video and data feeds for around 45,000 sports events annually.
The combination of OpenBet and IMG Arena aims to deliver official data and video streams, premium content, mobile products and betting technology solutions to sport leagues, federations and sportsbooks worldwide.
“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,” Ari Emanuel, CEO of Endeavor, said in a statement.
OpenBet, with more than 1,000 team members worldwide, focuses on licensed customers and regulated global gaming markets serving a customer base that includes many top-tier sportsbooks such as DraftKings, FanDuel, WynnBet, SkyBet, Ladbrokes and William Hill. OpenBet specializes in betting engine technology, having processed approximately three billion bets in 2020, as well as trading, pricing and risk management tools; player account and wallet solutions; and content offerings such as BetBuilder, DonBest pricing feeds and an industry-first sports content aggregation platform.
Elsewhere, Fox Corp., led by Lachlan and Rupert Murdoch, unveiled a deal to acquire sports website Outkick in a bid to fuel two burgeoning Fox businesses: streaming and sports betting.
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