This transaction is a positive next chapter for OpenBet, opening new possibilities for continued innovation and excellence.
In the first half of 2024, OpenBet’s global customer base grew by more than 40% year-on-year, and it now stands at over 200 partners.
The combination of Ariel Emanuel’s sports and entertainment industry expertise and OpenBet’s track record of innovation for over 25 years of experience creates a compelling proposition for the sports betting entertainment industry.
In terms of value, Endeavor acquired OpenBet at a height of the global market for sports betting as well as evident in the market caps of public comps like Sportradar (SRAD ~-55%) and Genius (GENI ~-30%) over a five-year period.
Levin said: “This management buyout allows us to continue executing our vision for increased market expansion and product innovation. Our group is extremely confident in OpenBet’s future considering the premium product offering, superior talent, and solid foundation we already have in place following a strong period of business growth.”
Under the terms of the transaction, OB Global Holdings will acquire the businesses for approximately US$450 million, subject to certain adjustments, financed through a mix of cash and debt.
During the sign-to-close period and after closing, Endeavor will continue to market IMG ARENA for sale to a third-party purchaser.
The MBO comes on the heels of solid momentum, including recent partnership announcements in Brazil with Grupo Silvio Santos (GSS) and BandBet.
OpenBet powers responsible betting and gaming entertainment for more than 200 market leading operators around the globe. Following close of the transaction, Levin will continue to lead the business as CEO.
The transaction is being pursued, and is a necessary step, for the closing of the proposed Endeavor take-private by Silver Lake. The transaction is subject to customary closing conditions, including approvals required under applicable gaming regulatory authority, and is conditioned on and expected to close immediately prior to the closing of the Endeavor take-private.
OpenBet is a world leader in sports betting entertainment. With over 25 years’ experience and a passion for innovation, OpenBet’s modular range of technology, content and services is entrusted by the globe’s biggest sports betting brands, lotteries, casinos and tribal operators.
It is a leading business-to-business sports betting partner in the U.S., U.K., Australia and Canada, with a strong position in Europe and APAC. To date, OpenBet has over 200 global customers and a 100% uptime record across major sporting events.
OpenBet is part of Endeavor, a global sports and entertainment company. The firm has earned industry recognition through multiple award wins recently, including ‘Sports Betting Supplier’ at EGR North America Awards 2024, ‘Multi-Channel Supplier’ at the EGR B2B Awards 2024, and ‘Sportsbook Platform Supplier’ at the SBC North America Awards 2024.
IMG ARENA delivers live streaming and data feeds for more than 65,000 events across a wide range of sports annually, as well as for on-demand virtual sports products and front-end solutions including the UFC Event Centre.
Clients include UFC, MLS, PGA Tour, DP World Tour, USTA, EuroLeague, and the NWSL. IMG ARENA is part of OpenBet, a world leader in sports betting entertainment. The two Endeavor-owned businesses were integrated under the OpenBet banner in 2024 to form a global sports betting and data business.
Source: GMB
