OpenBet Finalizes $450 Million MBO from Endeavor

B2B sports wagering and lottery technology leader OpenBet (OB Global Holdings) has successfully finalized its $450 million management buyout (MBO) from Endeavor Group Holdings, owner of WWE and UFC. 

OpenBet's CEO Jordan Levin alongside other top executives will oversee the company, which offers services to major sports betting brands like FanDuel, BetMGM, SkyBet, and Paddypower, among several others. Levin will remain in his position as CEO. 

The agreement received backing from Endeavor CEO Ari Emanuel, who individually invested in the acquisition with OpenBet’s top executives, as stated in a news release on Monday. 

Levin stated in a related announcement that the transaction represents a new phase for the company as it aims to boost global growth and innovation within the fast-changing sports betting sector.

"As this new chapter begins, OpenBet is better positioned than ever to drive market expansion and product innovation while defining the future of betting and gaming entertainment,” said Levin.

“Our group is extremely excited about OpenBet’s path forward, and we are confident in our business’ long-term growth profile considering our premium product offering, exceptional talent, and existing momentum in the marketplace.”

Reinforcing Commitment to Brazil 

Endeavor, a global talent and media organization, purchased OpenBet from Light & Wonder (previously called Scientific Games) in 2022 for $800 million. 

Nevertheless, with major operators increasingly bringing betting technology in-house, OpenBet’s leadership recognized a chance to reclaim independence and enhance its competitive advantage. 

OpenBet is reinforcing its international growth strategy, especially in Brazil. The firm has commenced operations with BandBet and is establishing further strategic alliances in one of the most promising newly regulated wagering markets. 

Aside from Brazil, OpenBet maintains its strong presence in the lottery industry, providing technology to more than 20 government-owned and supported operators globally. 

As a vital partner to affiliates of the World Lottery Association (WLA), the firm stated it continues to lead in “regulatory excellence” while enhancing its dedication to responsible gaming via AI-powered technology from Neccton. 

IMG ARENA Sale 

In a simultaneous deal, Endeavor has come to an arrangement to sell IMG ARENA – its sports betting data division – to Sportradar for around $200 million. 

As per the agreement, OB Global will retain control of IMG ARENA until the transaction receives regulatory approval, anticipated in Q4 2025. 

Endeavor’s choice to divest OpenBet and IMG ARENA aligns with a wider strategy to optimize its portfolio prior to its own $13 billion private equity acquisition by Silver Lake.