Scientific Games to sell OpenBet for $1.2 billion

Scientific Games has agreed to sell its sports betting division, OpenBet, to US-based global talent and media agency holding company Endeavor Group, for $1.2 billion.

Endeavour hopes the deal will complement its position within the sports betting market, created through data specialist IMG Arena.

The combination of these assets, Endeavour expects, will create a "unique" end-to-end solution, delivering official data and video streams, content, mobile products and betting technology, solutions to leagues, federations and sports books 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," remarked Ariel Emanuel, CEO, Endeavor.

"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."

On the part of Scientific Games, Jordan Levin, chief executive of the company's digital business said: "This transformational announcement combines OpenBet's market-leading sports betting ecosystem with unparalleled access to sports rights, content and data across the Endeavour portfolio.

"Together, we are uniquely positioned to define the future of sports betting entertainment. Putting our customers and their players at the heart of our product and technology innovation will remain the key to our ongoing success.

"The team at OpenBet is second to none and we’re laser focused on the rapid expansion of the global sports betting market. Ari’s leadership and vision for the entertainment industry is exceptional and this is supported by Scientific Games’ commitment to Endeavor through the stock component of this deal."

OpenBet, with more than 1,000 team members situated across the globe, focuses exclusively 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; innovative front-end UX and UI; and content offerings such as BetBuilder, DonBest pricing feeds and an industry-first sports content aggregation platform.