SBC News Voice of the Sports Betting Industry
OpenBet has completed its management buyout from holding group Endeavor just a few days after the latter sold one of its other core betting industry assets to Sportradar.
The online sportsbook platform has been owned by Endeavor since 2021 when it was acquired by the company for $1.2bn. OpenBet management, led by CEO Jordan Levin, secured terms with Endeavor CEO Ariel Emanuel for a buyout last year.
With the buyout now complete, the company will be owned by OG Group Holdings, a holding company created by OpenBet management for the purpose of the acquisition back in November. The firm paid $450m to buy itself from its former owner.
Levin 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.
“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.”
Endeavor sheds betting weight while OpenBet begins new era
The completed sale marks the start of a new era for both Endeavor and OpenBet. In the case of the former, the company has been streamlining its operations lately with the trimming of some of its betting assets, OpenBet included.
When Endeavor first agreed terms with Levin and OpenBet management for the buyout last November, the deal included IMG Arena, its sports betting data asset. This has now been sold to sportstech and data firm Sportradar.
IMG Arena will remain in OpenBet’s hands until the Sportradar takeover is complete, which the latter stated last week it expects to complete Q4 2025. Sportradar had not paid Endeavor any money for the asset, with some reports stating that Endeavor had paid Sportradar to take IMG Arena off its hands.
OpenBet, meanwhile, states that it is now embarking on a new path. The company is targeting an enhanced presence in the lottery sector in its post-Endeavor era, and is also looking to advance its presence in the new betting market of Brazil, having already launched with BandBet.
Levin concluded: “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.”
