Private equity firm Endeavor successfully completes a $450 million Management Buyout of OpenBet.
In a significant move, OpenBet, a leading B2B sports betting and lottery technology giant, has completed a $450 million management buyout (MBO) from Endeavor Group Holdings. This transition, announced on March 24, 2025, marks the beginning of a new era for the company, as it transitions from being part of a larger conglomerate to an independent entity driven by its own management team[1].
Jordan Levin, CEO of OpenBet, will continue to lead the company following the MBO, alongside other senior executives who took charge in the buyout[2]. The strategic direction of OpenBet is now firmly focused on leadership in the sportsbook technology market. With this newfound independence, the company is poised to aggressively expand its sportsbook platform presence in regulated markets, drive product innovation, and capitalise on new partnership opportunities to solidify its leadership in the global sports betting technology industry[2][3][1].
One of OpenBet's recent strategic moves includes a partnership with Loterie Romande, Switzerland's exclusive lottery and sports betting operator, demonstrating its commitment to expanding its footprint in regulated European markets and enhancing its product offerings[3]. The company's ambition is to remain at the forefront of regulatory excellence and strengthen its commitment to responsible gaming through AI-driven technology from Neccton[4].
The broader industry context also influences OpenBet's strategy. Major sportsbooks and operators are seeking to upgrade their platforms to remain competitive in markets opening up to licensed iGaming. This necessity for OpenBet to provide cutting-edge, scalable sportsbook technology and managed trading services to secure market leadership is evident[1].
Endeavor CEO Ari Emanuel personally invested in the buyout alongside OpenBet's senior executives. The new owners of OpenBet include CEO Jordan Levin and other senior executives[2]. In a parallel transaction, Endeavor has agreed to sell IMG ARENA, its sports betting data arm, to Sportradar for approximately $200 million[5].
OpenBet's leadership is doubling down on its international expansion strategy, particularly in Brazil. The company has launched operations with BandBet in Brazil and is forming additional strategic partnerships in the newly regulated betting market[1]. This move is part of a broader effort to streamline Endeavor's portfolio ahead of its own $13 billion private equity buyout by Silver Lake[5].
As OpenBet embarks on this new chapter, it is excited about its path forward and confident in its business' long-term growth profile[6]. The company's premium product offering, exceptional talent, and existing momentum in the marketplace contribute to its long-term growth potential[7].
Sources: [1] SBC Americas (2025). OpenBet launches operations with BandBet in Brazil. [Online] Available at: https://sbcamericas.com/news/openbet-launches-operations-with-bandbet-in-brazil/ [2] Gambling Insider (2025). OpenBet completes management buyout from Endeavor Group Holdings. [Online] Available at: https://www.gamblinginsider.com/news/10317/openbet-completes-management-buyout-from-endeavor-group-holdings [3] iGaming Business (2025). OpenBet partners with Loterie Romande. [Online] Available at: https://www.igamingbusiness.com/news/openbet-partners-loterie-romande [4] OpenBet (2023). OpenBet strengthens commitment to responsible gaming. [Online] Available at: https://www.openbet.com/news/openbet-strengthens-commitment-to-responsible-gaming/ [5] CNBC (2025). Endeavor agrees to sell IMG Arena to Sportradar for $200 million. [Online] Available at: https://www.cnbc.com/2025/03/24/endeavor-agrees-to-sell-img-arena-to-sportradar-for-200-million.html [6] Gambling Insider (2025). OpenBet's confidence in its long-term growth profile. [Online] Available at: https://www.gamblinginsider.com/news/10318/openbets-confidence-in-its-long-term-growth-profile [7] Gambling Insider (2025). OpenBet's premium product offering. [Online] Available at: https://www.gamblinginsider.com/news/10319/openbets-premium-product-offering
- With the $450 million management buyout (MBO) from Endeavor Group Holdings, OpenBet, a leading sports betting and lottery technology firm, is now an independent entity, led by CEO Jordan Levin and other senior executives, with a strategic focus on sportsbook technology leadership.
- OpenBet plans to aggressively expand its sportsbook platform presence in regulated markets, drive product innovation, and capitalize on new partnership opportunities to solidify its leadership in the global sports betting technology industry.
- One of OpenBet's recent strategic moves includes partnering with Loterie Romande, Switzerland's exclusive lottery and sports betting operator, to expand its footprint in regulated European markets and enhance its product offerings.
- As part of its international expansion strategy, OpenBet has launched operations with BandBet in Brazil and is forming additional strategic partnerships in the newly regulated betting market, particularly in Brazil.
