Scientific Games-owned Openbet to be sold to Endeavor for $1.2 billion
To reach the finalization of the buyout, Endeavor Holding’s CEO – Ariel Emanuel, and the Chairman – Patrick Whitesell, are going to complete the payment, 1 billion of which in cash, and the remaining 200m in Endeavor NYSE A-class stocks.
The purchase of Openbet will see Endeavor transform its entertainment and sports subsidiaries via Openbet’s innovative solutions, to further reinforce Endeavor’s position in the US sports betting market, bringing to their sports fans a newly expanded suite of products to enhance the betting experience.
Endeavor’s Chief Executive – Ariel Emanuel, explained the importance of this acquisition by saying:
“The integration of Openbet’s solutions to our IMG ARENA sportsbook is a perfect addition, working directly with sports rights owners.
We’re excited to further integrate these two businesses in one, boosting our sports betting experience in the US market.”
From Scientific Games’ perspective, this deal will see the group reach yet another milestone in their strategic plans to divest OpenBet, maximizing value for their shareholders, and further proving their position as a leading iGaming firm on an international scope.
With OpenBet already having 75 customers, including top-tier brands such as William Hill and Skybet, to whom it delivers its high-rank solutions currently, the brand is continuing its successful path.