EdR - EDR STOCK NEWS

Scientific Games Corporation (SGMS) has entered a definitive agreement to sell its Sports Betting business, OpenBet, to Endeavor Group Holdings (EDR) for $1.2 billion. The deal involves $1 billion in cash and $200 million in Endeavor Class A stock. The transaction is set to close in Q2 2022, pending regulatory approval. OpenBet is a leading sports betting technology provider, serving over 75 global customers. This sale aims to optimize Scientific Games' portfolio and enhance financial flexibility for future investments in key growth areas.

Endeavor Group Holdings (NYSE: EDR) announced that CEO Ariel Emanuel will participate in a virtual fireside chat at the Goldman Sachs Communacopia Conference on September 21, 2021, at 2:55 p.m. ET. A link to stream the session live and access a replay for 30 days will be available on Endeavor's investor relations website.

Endeavor is a global entertainment, sports, and content company that includes industry leaders such as WME and UFC, specializing in talent representation and media production.

Endeavor Group Holdings, Inc. (NYSE: EDR) has appointed Jacqueline Reses to its Board of Directors. Reses, a seasoned technology executive, brings significant experience with public companies, including her roles at Square and Yahoo. She currently leads Post House Capital, focusing on consumer and financial technology. CEO Ariel Emanuel expressed confidence that Reses' expertise in corporate finance and technology will be valuable for Endeavor's growth strategies. Reses aims to leverage Endeavor's diverse portfolio to enhance its position in the sports and entertainment sectors.

Endeavor Group Holdings (NYSE: EDR) reported a strong financial performance for Q2 2021, with revenues soaring to $1.1 billion, an increase of approximately $650 million compared to Q2 2020. The company's success was attributed to the return of live events and increased content production. Highlights include a record-setting performance by UFC and a $600 million debt repayment. The company anticipates annual revenue between $4.8 and $4.85 billion, with adjusted EBITDA expected between $765 and $775 million, showcasing resilience despite ongoing pandemic challenges.

Endeavor Group Holdings, a leading global entertainment and sports company, will announce its Q2 2021 financial results after market close on August 16, 2021. A live teleconference to discuss these results is scheduled for 1:30 p.m. PT / 4:30 p.m. ET on the same day. Investors can access the earnings release on Endeavor’s investor relations site and are encouraged to submit questions in advance. Endeavor is known for its prominent divisions, including WME, IMG, and UFC, focusing on talent representation, sports operations, and media production.

Endeavor Group Holdings, Inc. (NYSE: EDR) announced that Ursula Burns, former Chair and CEO of Xerox and VEON, has joined its Board of Directors. With over 25 years at Xerox, she led significant transformations, transitioning the company into a diversified business services entity. Burns has also been involved with various organizations, advocating for inclusivity and diversity. CEO Ariel Emanuel expressed enthusiasm about Burns' experience with global companies during transformative times, which will be crucial as Endeavor embarks on its next chapter.

Endeavor Group Holdings (NYSE: EDR) reported Q1 2021 revenue of $1.07 billion, down from $1.19 billion in Q1 2020. Operating income increased to $94.5 million from $53.8 million the previous year. The company shifted from a net loss of $51.3 million in Q1 2020 to a net income of $2.4 million. Adjusted EBITDA rose to $199.5 million. Despite COVID-19 impacts, the company expects 2021 revenue between $4.76 and $4.83 billion. Cash and equivalents totaled $880.9 million, with total debt at $5.872 billion.

The IOC, IPC, and Organising Committees for Paris 2024, Milano Cortina 2026, and LA28 have introduced a new global hospitality model. On Location has been appointed as the exclusive hospitality provider offering ticket-inclusive travel experiences. This initiative aims to improve services for fans and support athletes' families with dedicated ticket inventory and travel assistance. IOC President Thomas Bach highlighted the importance of simplified processes, better oversight, and governance. This model also reinforces revenue generation to support Olympic teams, enhancing the overall Games experience.