The global sports and entertainment entity, Endeavor Group Holdings will acquire the sports betting industry content and service provider OpenBet in a $1.2 billion deal. OpenBet is being sold by Scientific Games Corporation.

In a press release, it was stated that the OpenBet platform would help Endeavor expand within the sports betting sphere. Endeavor, through its flagship brand IMG Arena, is in partnership with nearly 500 sportsbook brands. It delivers official live streaming video and data feeds for tens of thousands of sports events each year.

The CEO of Endeavor, Ariel Emanuel said this about the new deal:

“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. 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.”

The chief executive of Scientific Games’ Digital Business, Jordan Levin, said that the two entities, together, were perfectly 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,” he added.

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