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SportsTranscript
00:00Let's get rolling here.
00:01Sports Radar, one of the most popular info providers, odds providers, here in the United
00:06States and abroad, seems to be making even a bigger jump, potentially, by acquiring one
00:11of their competitors.
00:12What does it mean?
00:13Yeah, Craig, this is one of those behind-the-scenes deals.
00:17When you think about sportsbooks, they work with companies like Sports Radar to basically
00:22keep track of all the official data, all the statistics that get fed from what actually
00:27happens during the game and the streaming.
00:31That all gets pushed through companies like Sports Radar to these bigger sportsbooks.
00:36So they just announced that they're going to acquire IMG Arena from Endeavor.
00:40And IMG Arena is basically one of their competitors, which provided odds for a number of Grand
00:45Slam tennis tournaments, including Wimbledon, the U.S. Open, the French Open, as well as
00:50Major League Soccer, EuroLeague Basketball, and the PGA Tour.
00:54So that's quite a lot of very important sports that Sports Radar is adding to their portfolio.
00:59They're going to pay about $225 million in this deal.
01:03It's one of a number of divestitures Endeavor has been doing as they prepare to go private.
01:09So Sports Radar kind of jumping on that opportunity here.
01:12And it comes as they're really trying to expand, again, their data rights capabilities and
01:18live betting capabilities.
01:19We've seen sportsbooks really embrace the progress of live betting and try to invest
01:24in it more and get out in front of it and try to basically be the best at it.
01:28Sports Radar wants to be that company that works with them and gives them the best resources.
01:32So about 70% of their business comes from sports like tennis, basketball, and soccer,
01:38which is pretty interesting when you think about how dominant football is.
01:40But that's also a lot of where we're seeing this innovation with live betting going.
01:45Live betting is very popular in tennis.
01:46So the fact that they're now expanding to basically 75% of the major tournaments is
01:51a very big deal here.
01:53And it's one of those things, you know, we hear about the deal now, wouldn't be surprised
01:56if maybe six months from now, maybe during the summer, later this fall, we start to see
02:00at sportsbooks, their capabilities are different, their offerings are different, all based around
02:06the work they do with Sports Radar.
02:07So they've been expanding their space, their dominance in this space, really, their only
02:12competitor left at this point is Genius Sports, and it's just another move to kind of accelerate
02:16their dominance in this, again, behind the scenes sports betting data rights universe
02:21that we're talking about.