Endeavor’s sports data and technology segment generated $469.8 million for the company in FY23, a jump of 80.3% year-on-year. The figure represents 7.8% of Endeavor’s overall revenue for the year, which was $5.96 billion.
Endeavor took several steps concerning sports data and technology in 2023, following the company’s acquisition of OpenBet in September 2022 for $800 million. In June 2023, OpenBet acquired responsible gambling and AML specialist Neccton, followed by the appointment of Sam Depoortere in September to the role of Vice President of Platform Products.
Most recently, Endeavor announced in January that it would integrate OpenBet and IMG Arena, which it also owns, under the OpenBet banner.
Ariel Emanuel, CEO of Endeavor highlighted the performance of the sports segment among Endeavor’s overall results. He said: “2023 was a transformational year for Endeavor as we strengthened our positions in sports and entertainment through many of our industry-leading assets. We remain focused on maximizing shareholder value through quarterly dividend payments and our evaluation of strategic alternatives.”
Ariel Emanuel, CEO of Endeavor
Jordan Lublin, Chief Finance Officer, attributed the sports data and technology segment’s stellar results to OpenBet’s performance in its first year with Endeavor.
Lublin acknowledged the company’s growth within IMG Arena’s betting data and streaming products as a catalyst for growth. IMG Arena acquired Leap Gaming in April and won exclusive media rights to 85 of the Confederation of African Football’s territories in December.
The sports data and technology segment generated $113.5 million in revenue in the fourth quarter. This was up by 4.7% yearly. Adjusted EBITDA for the quarter was $20.5 million, down slightly from $21.6 million in Q4 2022.
Emanuel noted that both OpenBet and IMG Arena “secured notable wins” in the fourth quarter. He highlighted OpenBet’s deal to power Veikkaus’ sports betting platform as a key deal in the period.
“Finland stands out as a key growth opportunity in the European sports betting landscape,” Emanuel noted. He further stated that this builds on to OpenBet’s prior 2023 geographic growth, namely “Greece, Germany, Czech Republic and Canada with Australia and Brazil in focus for 2024.”
Original article: https://www.yogonet.com/international/noticias/2024/03/04/71060-endeavor-sees-803-revenue-jump-in-sports-data-and-technology-segment-in-fy23
