OpenBet has completed a management buyout (MBO) from Endeavor Group Holdings. The deal gives OpenBet full independence under CEO Jordan Levin and other senior leaders. The sale was finalized for approximately $450 million on March 24, 2025.
What is OpenBet?
OpenBet provides sportsbook technology and services to operators like DraftKings, FanDuel, and William Hill. Its platform supports betting in over 30 regulated markets. The company focuses on scalability, uptime, and compliance — all key requirements for high-volume sportsbooks.
It also develops front-end and back-end solutions, same-game parlay tools (BetBuilder), and player protection features via partners like Neccton. The company has recently expanded into Brazil with a new launch alongside BandBet.
How Much Did OB Global Holdings Pay for Openbet?
Endeavor agreed to sell OpenBet to OB Global Holdings LLC, a group led by Levin and backed by Endeavor CEO Ari Emanuel. The buyout included $400 million in cash and $50 million in deferred payments. OB Global will also temporarily operate IMG Arena, which is being sold separately to Sportradar.
“We’re proud to have delivered strong results under Endeavor’s ownership, and to now continue our journey as an independent company,” said Levin in the official statement. “We’re taking forward a business with deep industry heritage, a strong team, and a laser focus on meeting the needs of our global customer base.”
Why Did Endeavor Sell OpenBet?
The sale is part of Endeavor’s wider effort to streamline its business. Endeavor is in the process of going private via a $13 billion buyout led by Silver Lake. Non-core assets like OpenBet and IMG Arena didn’t fit within that narrower focus on talent, media, and events.
This move frees up OpenBet to operate without being tied to a larger entertainment conglomerate. “This marks a significant inflection point in OpenBet’s 25-year history,” said Levin. “We’re entering a new era of product innovation and global growth.”