Global sports and entertainment company Endeavor has announced a strategic move to leverage OpenBet’s betting technology and IMG Arena’s data. IMG Arena will operate under the OpenBet banner, providing its data to operators, media outlets, and other rights holders. The CEO of OpenBet, Jordan Levin, will lead the company reporting to Endeavor’s president and COO, Mark Shapiro. Freddie Longe, former president of IMG Arena, will remain as a strategic advisor during the transition period.
The acquisition of OpenBet by Endeavor, valued at $800 million, signifies the company’s ambition to become a leader in the global betting, sports data, and technology industry. This integration will unlock significant value for sports rights, IP, and partnerships, while placing customers and player experience at the forefront of product and tech innovation.
Endeavor’s growing interest in sports betting is evident as their sports data and technology division generated $124.8 million in revenue for Q3 2023, a remarkable 167.2% increase compared to the same period last year. OpenBet’s reputable clients include DraftKings, FanDuel, SkyBet, Ladbrokes, and William Hill, while IMG Arena collaborates with over 470 leading sportsbook brands, leagues, and federations globally.
In October, Endeavor Group initiated a strategic review for potential alternatives, including the possibility of being taken private. Silver Lake, a $98 billion private equity firm, expressed interest in taking over the group. However, no official bid has been reported yet.
