California-based entertainment and talent-agency conglomerate Endeavor Group Holdings, Inc. is going all-in on sports wagering, having entered into an agreement to acquire sports-gambling technology company, OpenBet, from Scientific Games Corporation for $1.2 billion.
The Beverly Hills-headquartered holding company will reportedly pay for the sports betting business through a combination of $200 million in its Class A common stock and $1 billion in cash. The acquisition of OpenBet, which employs about 1,000 workers, is expected to close in Q2 2022, subject to regulatory approvals and other closing conditions.
IMG Arena:
According to Endeavor, which owns the Ultimate Fighting Championship (UFC), the purchase from the la…