Private equity firm Endeavor agrees to a $450 million management-led buyout of OpenBet, a top gaming technology solution provider.
Sports Betting Giant OpenBet Steps into a New Era
OpenBet, the leading sportsbook technology provider for operators like DraftKings, FanDuel, and William Hill, has recently completed a management buyout from Endeavor Group Holdings. The sale was finalized for approximately $450 million on March 24, 2025. Now, under the leadership of CEO Jordan Levin and the senior team, OpenBet is all set to stride ahead with independence.
OpenBet offers a robust platform that supports betting in over 30 regulated markets, emphasizing scalability, uptime, and compliance – crucial for high-volume sportsbooks. The company caters to front-end and back-end solutions, same-game parlay tools (BetBuilder), and player protection features, often in partnership with companies like Neccton. OpenBet has recently ventured into Brazil with a new launch alongside BandBet.
The deal was facilitated by OB Global Holdings LLC, a group led by Levin and backed by Endeavor CEO Ari Emanuel, in a transaction comprising $400 million in cash and $50 million in deferred payments. Interestingly, OB Global will also temporarily operate IMG Arena, which is being sold separately to Sportradar.
Levin expressed his enthusiasm about the acquisition, describing it as a significant milestone and a testament to the strong results OpenBet achieved under Endeavor's ownership. "As an independent company, we're entering a new era of product innovation and global growth," he stated.
This move followed Endeavor's efforts to streamline its business, having gone private via a $13 billion buyout led by Silver Lake in March 2025. The sale of OpenBet and IMG Arena was a natural fit as these assets fell outside Endeavor's narrower focus on talent, media, and events.
OpenBet's history has been intertwined with Endeavor's media and sports empire. However, its future promises independent growth and expansion, bolstered by its qualitative sports betting technology capabilities. As the gaming industry evolves rapidly, expect OpenBet to focus on innovative solutions and superior customer service, striving to maintain its competitive edge.
Moving forward, although specific details about new product developments or strategic partnerships remain unclear, OpenBet's future brightens as it steps into a new, exciting chapter.
- The conglomerate Endeavor Group Holdings agreed to sell OpenBet, a leading sportsbook technology provider, for approximately $450 million in 2025, under a management buyout facilitated by OB Global Holdings LLC.
- Jordan Levin, CEO of OpenBet, has stated that as an independent company, they are entering a new era of product innovation and global growth, emphasizing their aspirations for strategic business growth and technological advancements.
- In the coming years, OpenBet is expected to focus on competitive technology solutions, with an emphasis on superior customer service and innovative business strategies, particularly in the rapidly evolving gaming industry.
- In the realm of finance, OpenBet is poised for sustainable growth and expansion, as they navigate the intricacies of business investments and technology innovations in the sports betting world.
