OpenBet Completes $450 Million Management Buyout from Endeavor

B2B sports betting and lottery tech giant OpenBet (OB Global Holdings) has officially completed its $450 million management buyout (MBO) from WWE and UFC-owner Endeavor Group Holdings. OpenBet CEO Jordan Levin and other senior executives will take control of the company, which provides services for big-name sports betting brands such as FanDuel, BetMGM, SkyBet, and Paddypower, among many others. Levin will continue in his role as CEO.

The deal was supported by Endeavor CEO Ari Emanuel, who personally invested in the buyout alongside OpenBet’s senior executives, according to a Monday news release. The transaction marks a new chapter for the company as it seeks to accelerate global expansion and innovation in the rapidly evolving sports betting landscape. “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.”

OpenBet is doubling down on its international expansion strategy, particularly in Brazil. The company has already launched operations with BandBet and is forming additional strategic partnerships in one of the most promising newly regulated betting markets. Global talent and media group Endeavor acquired OpenBet from Light & Wonder (then known as Scientific Games) in 2022 for $800 million. However, amid increased insourcing of betting technology by major operators, OpenBet’s leadership saw an opportunity to regain autonomy and sharpen its competitive edge.

Read also: SOFTSWISS Deputy CTO Named Best in EMEA at the 2025 Oracle Excellence Awards

Beyond Brazil, OpenBet continues to cement its dominance in the lottery sector, supplying technology to over 20 government-owned and government-sponsored operators worldwide. As a key partner to members of the World Lottery Association (WLA), the company said it remains at the forefront of “regulatory excellence” while also strengthening its commitment to responsible gaming through AI-driven technology from Neccton.

In a parallel transaction, Endeavor has reached an agreement to sell IMG ARENA – its sports betting data arm – to Sportradar for approximately $200 million. Under the terms of the deal, OB Global will maintain control of IMG ARENA until the transaction secures regulatory approval, which is expected in Q4 2025. Endeavor’s decision to offload both OpenBet and IMG ARENA comes as part of a broader effort to streamline its portfolio ahead of its own $13 billion private equity buyout by Silver Lake. OpenBet Buyout Endeavor