Sports entertainment company Endeavor Group has completed the acquisition of OpenBet, a provider of content, platforms and services to the sports betting industry.
Endeavor acquired Openbet from Light & Wonder for $800 million, paying $750 million in cash and $50 million in Class A common stock to Endeavor.
Ariel Emanuel, Endeavor CEO said: «The addition of OpenBet to our sports betting portfolio will enable us to further capitalise on the massive tailwinds in the fast-evolving sports betting ecosystem and lead the way in defining the future of sports betting entertainment.
In combination with our IMG Arena sports data and content business, we’ll look to create and unlock meaningful value for our rights holder and sportsbook customers, helping deliver the most compelling offerings for sports fans globally.»
Openbet and IMG Arena will form Endeavor’s fourth business segment, Sports Data & Technology, to be launched in early January 2023.
«In combination with our IMG Arena sports data and content business, we’ll look to create and unlock meaningful value for our rights holder and sportsbook customers, helping deliver the most compelling offerings for sports fans globally.”
OpenBet and IMG Arena will form the fourth operating segment for Endeavour – Sports Data & Technology – and launch at the start of January 2023.
We’ve been awaiting this day when we can bring together everything OpenBet has to offer with the depth of expertise and relationships that Endeavor and IMG bring to the table.
Our focus remains on providing our customers with the most innovative solutions to give their fans the ultimate sports betting complement to live sports. We couldn’t be more excited to lean into the Endeavor network to accelerate and amplify that mission. »OpenBet CEO Jordan Levin added.
IMG Arena partners with sports brands to stream video and data from over 45,000 sports events per year.
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