Entertainment giant Endeavor Group Holdings Inc. has agreed to buy an online sports-betting business from game developer Scientific Games Corp. for $1.2 billion in cash and stock, the latest deal to build on the booming U.S. sports-wagering industry.
Endeavor, which owns the Ultimate Fighting Championship, Hollywood talent agency WME and sports and modeling agency IMG, would pay $1 billion in cash and $200 million in stock for the sports wagering business, the companies said. The deal is expected to close in the second quarter of 2022.
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