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Endeavor to buy sports betting unit from Scientific Games for $1.2 billion

By Krystal Hu and Niket Nishant (Reuters) -Endeavor Group Holdings Inc, the owner of the Ultimate Fighting Championship, will acquire sports betting business OpenBet from...
UFC-owner Endeavor to buy sports betting firm OpenBet for $1.2 billion © Reuters. FILE PHOTO: The Endeavor Group Holdings Inc. (EDR) logo hangs from the New York Stock Exchange on the morning of its public listing at the NYSE in New York City, U.S., April 29, 2021. REUTERS/Shannon Stapleton

(Reuters) -Endeavor Group Holdings Inc, the owner of the Ultimate Fighting Championship, will buy sports betting firm OpenBet from Scientific Games (NASDAQ:SGMS) Corp for $1.2 billion in cash and stock, the companies said on Monday.

Endeavor, whose shares were up nearly 9% in extended trading, said the acquisition will strengthen its position in the sports betting industry. It comes at a time when the online gambling space has been seeing frenetic dealmaking.

Last week, British gambling firm Entain said it had received a takeover proposal from U.S. fantasy sports betting company DraftKings (NASDAQ:DKNG), valuing it at $22.4 billion.

Demand for online betting has boomed during the pandemic as customers took to playing from home when casinos and betting shops were off-limits.

The OpenBet deal, which is expected to close in the second quarter of 2022, will be financed through $1 billion in cash and $200 million worth of Endeavor's Class A common stock, the companies said.

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31-03-2024 10:19:50 (UTC+7)

EUR/USD

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EUR/USD

1.0793

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AUD/USD

0.6522

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163.37

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Adidas AG

207.00

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    EUR/USD 1.0793 Sell  
    GBP/USD 1.2624 Sell  
    USD/JPY 151.38 ↑ Buy  
    AUD/USD 0.6522 Sell  
    USD/CAD 1.3543 Buy  
    EUR/JPY 163.37 ↑ Sell  
    EUR/CHF 0.9738 ↑ Buy  
    Gold 2,254.80 Buy  
    Silver 25.100 ↑ Buy  
    Copper 4.0115 ↑ Buy  
    Crude Oil WTI 83.11 ↑ Buy  
    Brent Oil 86.99 Neutral  
    Natural Gas 1.752 ↑ Sell  
    US Coffee C 188.53 ↑ Sell  
    Euro Stoxx 50 5,082.85 ↑ Sell  
    S&P 500 5,254.35 ↑ Sell  
    DAX 18,504.51 ↑ Buy  
    FTSE 100 7,952.62 ↑ Sell  
    Hang Seng 16,541.42 Neutral  
    Small Cap 2000 2,120.15 Neutral  
    IBEX 35 11,074.60 ↑ Sell  
    BASF 52.930 ↑ Buy  
    Bayer 28.43 Buy  
    Allianz 277.80 ↑ Buy  
    Adidas 207.00 ↑ Buy  
    Lufthansa 7.281 ↑ Sell  
    Siemens AG 176.96 ↑ Buy  
    Deutsche Bank AG 14.582 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,910/ 8,080
(7,910/ 8,080) # 1,364
SJC HCM7,830/ 8,080
(0/ 0) # 1,364
SJC Hanoi7,830/ 8,082
(0/ 0) # 1,366
SJC Danang7,830/ 8,082
(0/ 0) # 1,366
SJC Nhatrang7,830/ 8,082
(0/ 0) # 1,366
SJC Cantho7,830/ 8,082
(0/ 0) # 1,366
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