Endeavor is seeking a buyer for its sports betting and technology businesses OpenBet and IMG Arena, ahead of the expected completion of the company's deal with Sliver Lake to take the company private.
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In the second quarter of 2024, Endeavor “began actively marketing the businesses comprising the Sports Data & Technology segment, OpenBet and IMG Arena,” the company said in releasing its second-quarter earnings results. “As such, these businesses are considered ‘Held for Sale’ for financial reporting purposes and the Sports Data & Technology segment is presented as discontinued operations in the second quarter 2024 consolidated interim financial statements,” Endeavor added. For now, OpenBet and IMG Arena “will continue to operate as normal.”
Endeavor completed its $800 million acquisition of OpenBet in 2022 (a deal originally valued at $1.2 billion). It positioned OpenBet as a complement to its IMG Arena business, which partners with sports betting brands to provide official live streaming video and data feeds for thousands of events each year.
In April, Endeavor announced a deal to go private equity with private equity firm Silver Lake — three years after the sports, entertainment and talent management company went public — giving the company $13 billion in equity. The deal is expected to close in the first quarter of 2025.
