Scientific Games’ $1.2 Billion Sale of OpenBet to Endeavor
September 27, 2021
On September 27, 2021, Scientific Games Corporation (“Scientific Games”), a world leader in entertainment, announced that it has entered into a definitive agreement to sell its Sports Betting business, OpenBet, to Endeavor Group Holdings, Inc., a global sports and entertainment company, in a cash and stock transaction valued at approximately $1.2 billion. OpenBet is one of the world’s leading global online sports betting technology companies, offering an ecosystem of sports content, technology and services to the largest operators around the world. Cravath is representing Scientific Games in connection with the transaction.
The Cravath team is led by partner Robert I. Townsend III and includes associates Kelly M. Smercina, Rachel L. Schlobohm and Evan S. Gabor on M&A matters; partner J. Leonard Teti II and associates Cecily Xi and Duncan H. Hardell on tax matters; partner David J. Kappos and associate Carys J. Webb on intellectual property matters; partner Matthew J. Bobby and associate Brendon J. Rivard on executive compensation and benefits matters; practice area attorney Nicole M. Peles on regulatory matters; and practice area attorney Brian M. Budnick on real estate matters.
Related Practices & Industries
People
- Photo
-
-
J.D., 1990, Harvard Law Schoolmagna cum laude
-
A.B., 1987, Harvard Collegemagna cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2014, University of Michigan Law SchoolOrder of the Coif, summa cum laude
-
B.A., 2011, University of Notre DamePhi Beta Kappa, summa cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2005, University of Virginia School of LawOrder of the Coif
-
A.B., 1999, Princeton Universitywith Honors
- New York
Education
Admitted In
- Photo
-
-
J.D., 1990, University of California, Berkeley, School of Law
-
B.S., 1983, University of California, Davissumma cum laude
- New York
- California
- District of Columbia
Education
Admitted In
- Photo
-
-
J.D., 2012, Harvard Law Schoolmagna cum laude
-
M.A., 2009, University of Pennsylvania
-
B.A., 2009, University of PennsylvaniaPhi Beta Kappa, summa cum laude
- New York
Education
Admitted In
- Photo
-
-
J.D., 2010, New York University School of Lawcum laude
-
A.B., 2007, Dartmouth College
- New York
Education
Admitted In
- Photo
-
-
J.D., 2011, Benjamin N. Cardozo School of Lawcum laude
-
B.A., 2006, University of Virginia
- New York
Education
Admitted In
Related News & Insights
Deals & Cases
October 15, 2024
Epic Games Wins Post‑Trial Injunction in Antitrust Case Against Google
On October 7, 2024, the U.S. District Court for the Northern District of California entered a post‑trial order in favor of Cravath client Epic Games imposing a nationwide three‑year permanent injunction against Google. The injunction, which follows Epic’s jury trial win against Google last year, prohibits Google from paying competitors not to compete and requires Google to distribute alternative app stores on the Google Play Store and provide alternative app stores with access to the Google Play Store’s catalog of apps.
Deals & Cases
December 19, 2023
Epic Games Defeats Google in Antitrust Trial Victory
On December 11, 2023, a jury unanimously ruled in favor of Cravath client Epic Games (“Epic”) on all counts in its closely watched antitrust case against Google in the U.S. District Court for the Northern District of California, determining—after a multiweek trial—that Google has engaged in anticompetitive behavior in the distribution of mobile apps and in the handling of in‑app payments.
