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BEVERLY HILLS, Calif. - OpenBet, a prominent betting and gaming entertainment company, has announced the completion of its sale from Endeavor Group Holdings, Inc. (NYSE: EDR), a $13.8 billion market cap entertainment company, to OB Global Holdings LLC in a management buyout. The transaction is backed by Ariel Emanuel and includes participation from OpenBet executives, with Jordan Levin continuing as CEO. According to InvestingPro data, Endeavor maintains a moderate debt level with a debt-to-equity ratio of 1.58.
The company, known for its innovation and market-leading technology, operates globally, providing services to over 200 operators. OpenBet’s growth strategy includes expanding its presence in Brazil, where it has recently launched with BandBet and established partnerships with other major operators. This aligns with Endeavor’s strong revenue growth of 29.5% in the last twelve months, as reported by InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ top US stocks.
In the lottery sector, OpenBet has established itself as a primary provider to government-owned and sponsored entities, supporting over 20 World Lottery Association members. The company’s commitment to responsible gaming is underscored by its partnership with Neccton, leveraging AI-driven technology for player protection.
OpenBet emphasizes continual innovation as a cornerstone of its success, offering products like BetBuilder for same-game parlay experiences and OpenBet Locator for regulatory compliance. As the company embarks on its new chapter, it aims to empower operators with dependable technology and deep industry expertise.
Separately, on March 19, 2025, Endeavor agreed to sell its sports betting data business, IMG ARENA, which operates under OpenBet, to Sportradar. OB Global will manage IMG ARENA until the transaction’s expected completion in the fourth quarter of 2025, pending regulatory approval.
Financial advisory for Endeavor was provided by Oakvale Capital LLP and The Raine Group, with Latham & Watkins LLP serving as legal advisor.
OpenBet has garnered recognition for its contributions to the industry, winning awards such as ’Safer Gambling Supplier’ at the EGR Europe Awards 2025 and ’Sports Betting Supplier’ at the EGR North America Awards 2024.
The sale of OpenBet and the proposed transaction for IMG ARENA are forward-looking statements and involve risks and uncertainties. These statements do not guarantee future performance and should be evaluated considering the risk factors outlined in Endeavor’s Annual Report for the fiscal year ended December 31, 2024. Looking ahead, analysts expect Endeavor to return to profitability this year, with an EPS forecast of $2.68 for 2025. For deeper insights into Endeavor’s financial health and growth prospects, including exclusive ProTips and detailed valuation metrics, investors can access the full analysis on InvestingPro. This news is based on a press release statement.
In other recent news, Sportradar Group AG announced its agreement to acquire IMG ARENA from Endeavor Group Holdings, Inc., with the acquisition expected to close in the fourth quarter of 2025. This acquisition is anticipated to enhance Sportradar’s product offerings and accelerate revenue, adjusted EBITDA, and free cash flow growth. Meanwhile, Endeavor Group has expanded its credit facility to $3 billion, reflecting strategic financial planning to manage its capital structure. Additionally, Silver Lake’s acquisition of Endeavor Group Holdings at a price of $27.50 per share has been confirmed, causing some investor concerns due to the terms of the deal. Endeavor Group also reported significant financial performance in its fourth-quarter earnings call, with cash EBITDA increasing by 40% and free cash flow rising by 91%. TKO Group Holdings, majority-owned by Endeavor, announced its first quarterly cash dividend of $0.38 per share, reflecting its commitment to shareholder value. These developments highlight significant strategic and financial maneuvers within these companies.
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