Ahead of the sale, OpenBet acquires Multi Builder

Scientific Games slashed the sale price of OpenBet by $400m in order to make sure the deal closes smoothly.

Multi Builder was founded by industry veterans Oliver Preston and Jonathan Smith, with the business’ trading technology operating under the brand “Sportsbook Models”. The goal is for the services to be integrated into the existing product portfolio.

Smith founded sportsbook training company “Sportsbook Training Services LIMITED” and will provide training services exclusively to OpenBet as part of the deal.

The value to clients of deeper market understanding was emphasized by OpenBet chief product officer, Nikos Konstakis.

This deal marks another significant milestone in the development of our pricing and trading services strategy, which continues to grow in importance as OpenBet drives operator value through deeper market offerings alongside higher flexibility.

Konstakis argued that the deal would help accelerate the business’s growth trajectory.

He said that the acquisitions of Don Best and SportCast helped the company grow its content and pricing revenue by over 100% in 2011. The addition of Multi Builder gives us the ability to accelerate this growth trajectory, drive innovation and offer next level betting entertainment for our operators.

OpenBet has a market leading portfolio and we are very proud to be part of their latest expansion strategy. OpenBet is the leader in sports technology, services and content.

Their relentless focus on customer and player experience is second to none. It will be possible for the company to continue to provide quality, scale and depth of systems across global markets with the help of our offering. We found a good partner in OpenBet and we can’t wait to start.

Summary:

Scientific Games has agreed to sell its sports betting business, OpenBet, to Multi Builder for an undisclosed amount. The deal is expected to be completed by the end of the year. OpenBet was to be sold by Scientific Games for $400 million.