B2B sports betting and lottery technology leader OpenBet (OB Global Holdings) has successfully finalized its $450 million management buyout (MBO) from Endeavor Group Holdings, the parent company of WWE and UFC. 

OpenBet's CEO Jordan Levin and other high-ranking executives will oversee the company, which offers services to notable sports betting brands including FanDuel, BetMGM, SkyBet, and Paddypower, among several others. Levin will persist in his position as CEO. 

The agreement was backed by Endeavor CEO Ari Emanuel, who individually invested in the acquisition together with OpenBet's top executives, as stated in a Monday press release. 

Levin stated in a related announcement that the deal signifies a new era for the company as it aims to speed up its global growth and innovation in the swiftly changing sports betting market. 

"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,” said Levin.

“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.”

Reinforcing Commitment to Brazil 

In 2022, global talent and media organization Endeavor purchased OpenBet from Light & Wonder, previously referred to as Scientific Games, for $800 million. 

Yet, with leading operators increasingly bringing betting technology in-house, the leadership at OpenBet recognized a chance to reclaim independence and enhance its competitive advantage. 

OpenBet is intensifying its strategy for international growth, especially in Brazil. The company has begun operations with BandBet and is establishing further strategic alliances in one of the most promising newly regulated gambling markets. 

Outside of Brazil, OpenBet is reinforcing its leadership in the lottery industry, providing technology to more than 20 government-run and government-backed operators globally. 

As a crucial ally to members of the World Lottery Association (WLA), the company stated it continues to lead in “regulatory excellence” while enhancing its dedication to responsible gaming with AI-powered technology from Neccton. 

IMG ARENA Transaction 

In a simultaneous deal, Endeavor has agreed to sell IMG ARENA – its sports wagering data division – to Sportradar for about $200 million. 

According to the agreement, OB Global will retain control of IMG ARENA until the deal receives regulatory approval, anticipated in Q4 2025. 

Endeavor's choice to divest both OpenBet and IMG ARENA is part of a larger initiative to simplify its portfolio in anticipation of its $13 billion private equity acquisition by Silver Lake.