"Entertainment company Endeavor finalizes internal purchase of sports betting platform OpenBet and event data provider IMG ARENA"
OpenBet Undergoes Management Buyout, Focuses on Growth and Innovation
In a significant move, sports betting technology company OpenBet has been sold to OB Global Holdings LLC in a management buyout, marking a new chapter for the company. The transaction, which took place in March 2025, allows OpenBet to operate with greater autonomy while building on its established strengths in the sports betting industry.
Under the new ownership, OpenBet's leadership remains consistent, with Jordan Levin continuing as CEO. The renewed ownership structure signals continuity and allows the management team to steer the company more independently.
OpenBet's strategic focus post-buyout includes leveraging its leading market position in sportsbook software to expand product offerings and strengthen partnerships across the iGaming sector. The company aims to invest in innovation to maintain a competitive advantage, particularly by enhancing platform capabilities to meet evolving regulatory and customer demands globally.
OpenBet's products, such as BetBuilder and OpenBet Locator, are already supplied to over 200 operators worldwide. The company has already secured a foothold in the Brazilian market, and its moves in Brazil could deliver significant dividends.
The sale aligns with Endeavor's broader strategy, as it heads toward a take-private transaction led by private equity firm Silver Lake. Endeavor will continue marketing IMG ARENA to potential third-party buyers during and following the sign-to-close period. OB Global will retain ownership and control of IMG ARENA until Q4 2025.
OpenBet's management team remains dedicated to pursuing further innovation and market expansion. The transaction is financed via a combination of cash and debt, and the deal is backed by Endeavor chief executive Ariel Emanuel, OpenBet CEO Jordan Levin, and other top executives.
According to Jordan Levin, OpenBet's group is extremely confident in its future, considering the premium product offering, superior talent, and solid foundation in place. The company is enthusiastic about the new deal, noting it would allow them to continue pursuing their vision for increased market expansion and product innovation.
In summary, the management buyout of OpenBet by OB Global Holdings LLC has set the stage for a new phase in the company's history, with a renewed strategic focus on independence and growth in the sports betting technology market. The company remains committed to technological advancements, market expansion, and maintaining a competitive edge in the evolving sports wagering landscape.
In this new phase under OB Global Holdings LLC, OpenBet aims to expand its sports betting product offerings and strengthen partnerships across the iGaming sector, with a focus on innovation to maintain a competitive advantage. This emphasizes the company's commitment to the sports betting legislation landscape, particularly by enhancing platform capabilities to meet global regulatory and customer demands.
