To take OpenBet private, Endeavor CEO Ariel Emanuel and a number of senior OpenBet personnel, including CEO Jordan Levin, are proceeding with a management buyout (MBO). With the help of a combination of debt and cash, Levin and his group will be able to take over OpenBet’s operations and purchase important assets.
When a company’s management team buys assets from the current owner, it’s known as a management buyout. This is frequently done to increase operational independence and flexibility. In this instance, the MBO seeks to establish OpenBet as a stand-alone leader in the sports betting sector while opening up new growth prospects for the company.
Focus on Market Expansion and Innovation
As CEO, Levin will continue to lead OpenBet’s operations following the buyout. The company has recently demonstrated its strength through strategic partnerships, including deals with Brazilian giants Grupo Silvio Santos (GSS) and BandBet. This MBO aligns with Levin’s vision for growth, as he shared, “This MBO allows us to continue executing our vision for increased market expansion and product innovation. Our group is extremely confident in OpenBet’s future considering the premium product offering, superior talent and solid foundation we already have in place following a strong period of business growth.”
With over 200 global partners such as FanDuel, PointsBet, ESPN Bet, OPAP, and Sky Bet, OpenBet is well-positioned to capitalize on its expertise in powering sports betting platforms worldwide. The MBO plan is expected to accelerate product innovation and expand its reach in emerging markets.
Under this agreement, Endeavour will continue to concentrate on the expansion of IMG Arena, which it intends to market for sale. This enables OpenBet’s leadership to propel its growth on its own while allowing Endeavor to maintain a diversified sports betting portfolio. Standard closing requirements, such as regulatory approvals from gaming authorities, apply to the deal.
In order to ensure a seamless transition as OpenBet starts its new chapter, Endeavor is receiving advice on this deal from Oakvale Capital LLP and The Raine Group.
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