OpenBet completes $450M management buyout from Endeavor

OpenBet, one of the top B2B sports betting and content companies, has just wrapped up a $450 million management buyout from WWE and UFC-owner Endeavor Group Holdings. The buyout was backed by Endeavor CEO Ariel Emanuel, with support from key OpenBet executives, including Jordan Levin, who’s staying on as CEO and continuing to lead the company.

As part of the deal, OpenBet is now being folded into a new entity called OB Global Holdings. While the exact purchase price hasn’t been disclosed, the company was acquired from its former owner, Endeavor Group Holdings.

Speaking about the changeover, Levin said in a press statement: “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 says it’s ramping up its presence in Brazil’s newly expanded betting market, actively teaming up with major operators. One of those deals is already in motion as they’ve partnered with BandBet and are officially live.

The news of the sale closing comes shortly after Endeavor announced on March 19, that it’s also offloading IMG Arena, a sports betting data service that had been run by OpenBet. The business is being picked up by Sportradar, but OpenBet will keep managing things until the deal is finalized, which is expected sometime in the last quarter of this year.

Our CFO, Craig Felenstein shares his thoughts on yesterday’s Q4 and full-year earnings announcement and agreement to acquire IMG ARENA and its strategic portfolio of global sports betting rights.

Read his insights here: https://t.co/3zyYycEk69 pic.twitter.com/wN3LoADujp

— Sportradar (@Sportradar) March 20, 2025

Out of the total deal, Endeavor will pay $125 million to Sportradar and another $100 million in cash repayments to the sports rightsholders tied to IMG Arena.

Sportradar CFO Craig Felenstein shared his thoughts on the IMG Arena deal during the company’s full-year earnings announcement: “Our announcement that we entered into an agreement to acquire IMG ARENA and its global portfolio of sports betting rights reinforces this position and, following closing, will further expand our leading global content portfolio and footprint in some of the most bet upon sports including tennis, soccer and basketball.”

Endeavor was advised by the law firm Latham & Watkins on the sale of OpenBet. On the financial side, Oakvale Capital and the Raine Group also played key roles as advisors to the seller.

Featured image: OpenBet / Jordan Levin via LinkedIn

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