OpenBet concludes management buyout sale
The CEO said this is a new chapter for the company.
Key Points
- The transaction involved several OpenBet executives and was backed by Ariel Emanuel
- Endeavor recently announced it has reached an agreement to sell IMG Arena to Sportradar
Betting and gaming entertainment company OpenBet has completed its sale by Endeavor Group Holdings in a “management blackout.”
The transaction was backed by Ariel Emanuel and included participation from OpenBet CEO Jordan Levin, as well as other executives, the company said.
The CEO described the sale as a “new chapter” the company.
He further commented, “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.
“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.”
OpenBet said advancing its presence in Brazil is part of its expansion strategy. The company recently launched BandBet in the country and is working to secure partnerships with other operators in the region.
The company said in a statement, “These collaborations reinforce OpenBet’s commitment to delivering scalable, compliant, and engaging betting experiences in one of the world’s most exciting new regulated markets.”
Endeavor also recently reached an agreement with Sportradar to sell IMG Arena, which is its sports wagering data business under OpenBet. This separate transaction was announced last week and was “contemplated in the definitive agreement with respect to the OpenBet sale.”
“OB Global will own and continue to manage the IMG Arena business until the close of the Sportradar transaction, which is subject to regulatory approval and is expected in the fourth quarter of 2025,” the company said.
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