{"id":8192,"date":"2024-11-14T05:34:22","date_gmt":"2024-11-14T05:34:22","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/11\/14\/endeavor-sells-openbet-and-img-arena-in-450-million-management-buyout\/"},"modified":"2024-11-14T05:34:22","modified_gmt":"2024-11-14T05:34:22","slug":"endeavor-sells-openbet-and-img-arena-in-450-million-management-buyout","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/11\/14\/endeavor-sells-openbet-and-img-arena-in-450-million-management-buyout\/","title":{"rendered":"Endeavor Sells OpenBet and IMG Arena in $450 Million Management Buyout"},"content":{"rendered":"<div>\n<p>In a major management <a href=\"https:\/\/igaming.org\/casino-news\/endeavor-and-openbet-executives-back-management-buyout-plan\/\">buyout<\/a> estimated at about $450 million, Endeavor has announced the sale of its sports technology companies, OpenBet and IMG Arena, to OB Global Holdings. The agreement, which will be funded by debt and cash, was finalized in large part by OpenBet CEO Jordan Levin and Endeavor CEO Ariel Emanuel.<\/p>\n<h2><strong>OpenBet\u2019s Global Reach and Future Plans<\/strong><\/h2>\n<p>As one of the leading global sports betting technology providers, OpenBet supports over 200 operators, including industry giants like FanDuel, PointsBet, <a href=\"https:\/\/igaming.org\/sports-news\/espn-bet-to-launch-in-new-york-following-25-million-sports-betting-license-deal\/\">ESPN Bet<\/a>, OPAP, and Sky Bet. Following the sale, Levin will remain as CEO of OpenBet, emphasizing the company\u2019s commitment to expanding its reach and enhancing its product lineup.<\/p>\n<p>In a statement on the deal, Levin said,<em> \u201cThis management buyout allows us to continue executing our vision for increased market expansion and product innovation.\u201d<\/em> He expressed strong confidence in OpenBet\u2019s future, pointing to its strong foundation, premium offerings, and talented team.<\/p>\n<p>IMG Arena, meanwhile, remains on the market and will continue to be marketed to potential buyers throughout the sign-to-close period and beyond.<\/p>\n<p>This sale aligns with Endeavor\u2019s broader restructuring plan, which includes streamlining its asset portfolio. The divestment follows Endeavor\u2019s anticipated take-private acquisition by Silver Lake, a tech-focused investment firm, in a deal estimated at $13 billion. Expected to close in early 2025, this acquisition will see Silver Lake take full ownership of Endeavor.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"BetUS\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/BetUS.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"BetUS\" target=\"_blank\" rel=\"nofollow\">BetUS<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of up to $2,500<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino &#038; Sports<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/betus\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>Since purchasing OpenBet for $800 million in September 2022\u2014after a price reduction of $400 million\u2014Endeavor has focused on optimizing its asset holdings. The company recently conducted reviews of other properties, including tennis events like the Miami Open and Madrid Open, as well as its art platform, Frieze.<\/p>\n<p>Endeavor\u2019s Q3 2024 financial report highlighted a 66.6% revenue increase to $2.02 billion, although rising expenses led to a net loss increase from $117 million to $186.3 million. OpenBet and IMG Arena were classified as discontinued operations, reflecting Endeavor\u2019s ongoing divestment strategy as it sharpens its focus on core businesses and streamlines its portfolio.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/endeavor-sells-openbet-and-img-arena-in-450-million-management-buyout\/\">Endeavor Sells OpenBet and IMG Arena in $450 Million Management Buyout<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In a major management buyout estimated at about $450 million, Endeavor has announced the sale of its sports technology companies, OpenBet and IMG Arena, to OB Global Holdings. The agreement, which will be funded by debt and cash, was finalized in large part by OpenBet CEO Jordan Levin and Endeavor CEO Ariel Emanuel. OpenBet\u2019s Global [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8192","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8192"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8192\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}