Endeavor Selling OpenBet And IMG Arena In Ari Emanuel-Backed $450 Million Management Buyout
deadline.comEndeavor is selling OpenBet and IMG Arena in a management buyout backed by Ariel Emanuel with participation from executives of OpenBet, including CEO Jordan Levin.
The buyout group is operating under the name OB Global Holdings LLC. “This management buyout allows us to continue executing our vision for increased market expansion and product innovation.
Our group is extremely confident in OpenBet’s future,” said Levin in a statement. The deal calls for OB Global to acquire the businesses for about $450 million subject to certain adjustments and financed through a mix of cash and debt.
Endeavor said it will continue to market IMG Arena for sale to a third-party purchaser until the close — and after. OpenBet powers responsible betting and gaming entertainment for more than 200 market leading operators around the globe.
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