Endeavor delivered solid first quarter results on Tuesday, powered by growth in its owned sports properties unit which is about to grow substantially asEndeavor’s events and experiences unit also was in positive territory for the quarter. But the hangover of the January 2022 sale of the Endeavor Content production unit put a dent in the representation unit’s quarterly numbers.
The dividend of up to $25 million will be declared in the third quarter. It will benefit Endeavor’s Class A shareholders, a group dominated by insiders including Endeavor CEO Ariel Emanuel, chairman Patrick Whitesell and other board members. For the quarter, Owned Sports Properties delivered revenue of $353.3 million, up 19% from the year-ago period. Adjusted EBITDA of $185.7 million was up 25% year-over- year.
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