Cravath advised Scientific Games in connection with the transaction.
Scientific Games Corporation (NASDAQ: SGMS) has entered into an agreement to acquire Don Best Sports Corporation and DBS Canada Corporation (together, “Don Best”), a leading global supplier of real-time betting data and pricing for North American sporting events. The deal will expand Scientific Games’ B2B sports betting offerings and add powerful new capabilities to the company’s one-stop shop for sportsbook solutions. Don Best’s trading platforms and expertise, combined with Scientific Games’ global leading OpenBet™ platform, further enhance Scientific Games’ world-class sports betting solution for the expanding U.S. market and beyond. Subject to customary conditions to closing, the deal is estimated to close in the fourth quarter of 2018.
A trusted provider and recognized industry brand, Don Best boasts more than 20 years of experience in the sports betting space. Their expertise enables them to determine proper betting lines, track more than 100 worldwide sportsbook operators and provide tailored content solutions to meet the needs of sportsbook operators. Upon closing of the acquisition, Don Best will become part of Scientific Games’ SG Digital division. The combination will bring top-tier European sportsbook operating experience together with the leading U.S. sports trading, data and pricing platform. The Don Best team, in tandem with SG Digital’s recently announced Sportsbook Operations team, will also power growth for the Company’s customers worldwide by smoothly combining day-to-day sportsbook logistics with state-of-the-art trading technology.
The Cravath team is led by partners Robert I. Townsend III (Picture) and Jenny Hochenberg and includes associates Robert C. Warshaw and Eli D. Heller on M&A matters; partner David J. Kappos and associates Joel Feigenbaum and Jessica M. Goodman on intellectual property matters; partner J. Leonard Teti II and associate Peter W. Rogers on tax matters; partner Eric W. Hilfers and associate Jana I. Hymowitz on executive compensation and benefits matters; partner Yonatan Even on antitrust matters; practice area attorneys Brian M. Budnick and Laurel R. Berkowitz on real estate matters; and senior attorney Annmarie M. Terraciano on environmental matters.
Involved fees earner: Robert Townsend III – Cravath Swaine & Moore; Jenny Hochenberg – Cravath Swaine & Moore; Robert Warshaw – Cravath Swaine & Moore; Eli Heller – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Joel Feigenbaum – Cravath Swaine & Moore; Jessica Goodman – Cravath Swaine & Moore; J. Leonard Teti II – Cravath Swaine & Moore; Peter Rogers – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Jana Hymowitz – Cravath Swaine & Moore; Yonatan Even – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore; Laurel Berkowitz – Cravath Swaine & Moore;
Law Firms: Cravath Swaine & Moore;
Clients: Scientific Games Corporation;