Scientific Games (SGMS), Endeavor Group (EDR) Both Gain on $1.2B OpenBet Deal

Scientific Games Announces Sale of Sports Betting Business, OpenBet, to Endeavor for $1.2 Billion

LAS VEGAS, Sept. 27, 2021 /PRNewswire/ -- Scientific Games Corporation (NASDAQ: SGMS) ("Scientific Games," "SGC" or the "Company") announced that it has entered into a definitive agreement to sell its Sports Betting business, OpenBet, to Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company, in a cash and stock transaction valued at $1.2 billion. Under the terms of the agreement, Scientific Games will receive $1 billion in cash and $200 million in Endeavor Class A common stock based on the volume-weighted average trading price of the Class A... More

Endeavor to Acquire Sports Betting Company OpenBet From Scientific Games

Complementary acquisition supports Endeavors expansion in the sports betting ecosystem

BEVERLY HILLS, Calif.--(BUSINESS WIRE)-- Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company, has entered into an agreement to acquire OpenBet, a leading content, platform and service provider to the sports betting industry, from Scientific Games Corporation (NASDAQ: SGMS) for $1.2 billion paid through a combination of cash ($1 billion) and Endeavors Class A common stock ($200 million).

The acquisition will complement Endeavors position within the sports betting... More