OpenBet has announced the completion of its sale by Endeavor Group Holdings to OB Global Holdings LLC in a landmark management buyout. The newly formed OB Global Holdings LLC will lead the $450 million management buyout, with backing from Endeavor CEO Ari Emanuel and OpenBet CEO Jordan Levin.

Levin will continue to lead the business as CEO. He said, “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.”

Endeavor to focus on core operations

The sale marks a strategic move by Endeavor to focus on its core operations, while positioning OpenBet and IMG ARENA for growth within the rapidly evolving sports betting sector. OpenBet, known for its reliability in sports betting technology, maintains partnerships with over 200 operators worldwide, praised for its 100 percent uptime during peak sporting events. Meanwhile, IMG ARENA has carved a niche in live sports streaming and data, providing coverage for over 65,000 events annually. Key partnerships with sports leagues like the UFC, MLS, and PGA Tour enhance its influence in bringing live sports content to a global audience.

The decision to spin off these assets reflects Endeavor’s broader strategy to refine its business model. Since their acquisition, Endeavor has fostered rapid development within OpenBet and IMG ARENA. The management-led buyout is expected to increase these brands’ autonomy and flexibility, empowering them to pursue new market opportunities independently.

Step towards OpenBet’s mission to be trusted global partner

Jordan Levin has previously said he views the buyout as a pivotal opportunity. He emphasised the move will allow OpenBet to broaden its reach, innovate, and enhance client value. Under Levin’s leadership, OpenBet has built resilience in an increasingly competitive market where technological advancements and regulatory compliance are essential for sustained growth.

With this new structure, OpenBet will advance its commitment to stable, cutting-edge technology. Its established reputation among betting giants underpins an ambitious future. Levin noted the buyout aligns closely with OpenBet’s mission to be a trusted global partner for operators. This will support resource allocation towards expanding market reach and enhancing service offerings.

For Endeavor, this sale is more than a divestment; it’s a strategic decision to focus on high-growth segments. By refining its portfolio, Endeavor can dedicate resources to its primary strengths in talent representation, sports, and entertainment. This restructuring also aligns with the priorities of its largest shareholder, Silver Lake, a prominent private equity firm. Silver Lake has supported Endeavor’s move towards going private in a proposed $13 billion transaction.

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