We often announce that providers decide to partner with other gaming studios. We recently have been writing about Scientific Games signing a deal with Soft2Bet. Well, sometimes it is about partnering, and sometimes it is about selling.
This time Scientific Games decided to sell OpenBet, its sports betting business, to Endeavor Group Holding, Inc. The agreement is already signed and it is worth $1.2 billion. After regulatory approval, the company will receive $1bn in cash and $200m in Endeavor Class A common stock in Q2 2022.
OpenBet’s focus is on sports content and technology and the group already has over 75 global customers. It is a preferred B2B sports betting partner in many regions.
Barry Cottle, the President and CEO of Scientific Games commented that this transaction is an important milestone in the optimisation of the provider’s portfolio and de-levering the balance sheet to enhance its financial flexibility.
"OpenBet has built an incredible sports betting suite anchored in its best-in-class betting engine and now includes expanded content, services and products for sportsbooks and fans," said Ariel Emanuel, CEO of Endeavor.
He continued they look forward to growing the businesses together to capitalize on the strong secular tailwinds in the sports betting ecosystem.
Scientific Games launches a lottery game technology
With the cutting of an official ribbon, Scientific Games announced its instant lottery game technology. This technology that takes place in the provider’s UK production facility in Leeds, will serve the UK National Lottery.
The new lottery technology increases the number of employees of Scientific Games significantly. It expands the company’s global production capacity by over 20% as one of the five production centres serving the lottery industry.
Also recently, Scientific Games acquired Sideplay Entertainment to expand its digital lottery instant game studios across the globe, as the company has produced instant games since 1994.
Mark Scholey, VP Global Manufacturing of Scientific Games, about the expansion said it strengthens their 50 years of global leadership in instant products. He also commented it helps lottery customers drive maximum proceeds to support their beneficiary programs.
Kevin Anderson, VP Global Strategic Accounts EMEA of Scientific Games said their investment in the UK production expansion shows their commitment to serve the UK National Lottery and lotteries across Europe, entertaining the players through instant game innovation.
About Scientific Games
Scientific Games are a software development company that is gaining notable popularity not just in the UK, but worldwide as well. The company was founded in 1973 by a team of technological innovators and their first product was an instant lottery which was introduced in 1974. It also produces online casino games like video slots. As it has been around for a long time, it has made a serious impact on the industry.