The sports and entertainment business, which agreed to acquire OpenBet from Scientific Games for $1.2bn in Q3, saw its revenue climb by more than 50% for Q4, closing out a strong first year as a public company.
A return to a full schedule of sporting events benefitted Endeavor’s media and sports betting businesses, while revenue from its talent representation segment experienced a double-digit increase over pre-pandemic figures, despite touring events still operating at reduced levels.
This latter area generated $718m for fourth quarter 2021, nearly half of Q4’s total revenue, while owned sports properties brought in $277m, up by a more modest 3%, though an increase, nonetheless.
On a whole year basis, these two segments produced $2bn and $1.1bn, up 100% and 16% respectively. Events, experiences and rights, meanwhile, Endeavor’s other business area, generated nearly $517m for Q4, and $2bn for the full year.
Furthermore, fourth quarter adjusted EBITDA came to $229.5m, while whole year adjusted EBITDA amounted to approximately $880m.
“In our first year as a public company, we saw significant outperformance across our portfolio as the world began to emerge from the pandemic, with increased attendance at live events and continued heightened demand for premium content,” said Ariel Emanuel, Endeavor’s CEO.
“Given the unique position we occupy in the content landscape, we remain confident about our ability to continue leveraging trends, unlocking growth and delivering long-term value.”
For 2022, Endeavor expects revenue to be between $5.2bn and $5.45bn, while anticipating adjusted EBITDA to be between $1.07bn and $1.12bn.
