OpenBet Completes $450M Buyout, Eyes Global Growth
Key Takeaways
- OpenBet completes a management buyout (MBO) valued at USD 450 million.
- CEO Jordan Levin and his leadership team assume control of the company.
- Focus is on international growth, particularly in Brazil.
- Endeavor simultaneously sells IMG ARENA to Sportradar for USD 200 million.
OpenBet Becomes Independent – Leadership Team Takes Control
OpenBet, a leading provider of sports betting and lottery technology, has completed a management buyout of the company. The deal is valued at USD 450 million, marking the separation of OpenBet from its former parent company, Endeavor Group Holdings. CEO Jordan Levin will remain in his role and, together with other executives, take over operational control.
Strategic Restart with a Focus on Innovation
According to Levin, the buyout marks the beginning of a new chapter. OpenBet aims to strengthen its position in the global market and focus on product development and technological innovation. The goal is to enhance competitiveness in a rapidly evolving environment. This move was considered strategically sound, especially as major providers increasingly develop their own betting platforms.
Brazil at the Centre of Expansion Strategy
A key focus of OpenBet’s future strategy is Brazil. The company is already active there through BandBet and is building additional partnerships. The Brazilian market is considered one of the most promising among newly regulated markets. OpenBet is also pursuing a clear expansion strategy in other regions.
Strong Position in the Lottery Sector
In addition to sports betting, OpenBet also has a strong presence in the lottery segment. The company supplies over 20 government and government-supported lottery operators worldwide. As a member of the World Lottery Association (WLA), OpenBet places great emphasis on regulatory standards and responsible gaming. This includes the use of AI-based technology from Neccton.
Endeavor Also Sells IMG ARENA
Alongside the OpenBet transaction, Endeavor has announced the sale of its sports data subsidiary IMG ARENA to Sportradar. The purchase price is approximately USD 200 million. The transaction is expected to close in the fourth quarter of 2025, pending regulatory approval.
Background: Why Endeavor Is Pulling Back
Endeavor only acquired OpenBet in 2022 for USD 800 million from Light & Wonder (formerly Scientific Games). The company is now divesting OpenBet and IMG ARENA as part of a strategic realignment. This comes in the context of a planned withdrawal from the stock market through a USD 13 billion buyout by investor Silver Lake.
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Our Assessment
The management buyout of OpenBet is a logical move in an increasingly consolidated market. Regaining independence gives the company more flexibility to respond to market changes. In particular, the expansion into Brazil and the focus on technological advancement strengthen OpenBet’s position. The simultaneous divestment of IMG ARENA indicates that Endeavor is clearly redefining its strategy. For OpenBet, this means greater autonomy – and new opportunities.
Sources
- Gaming Business News
- Regulatory Affairs Weekly
- Sports Betting Industry Report
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