Endeavor Selling OpenBet and IMG Arena Sports-Gaming Units in $450 Million Management Buyout Backed by Ari Emanuel
variety.comTodd Spangler NY Digital Editor Endeavor agreed to sell OpenBet and IMG Arena, its sports gambling and technology businesses, in a $450 million management buyout backed by Endeavor chief Ari Emanuel with participation from OpenBet CEO Jordan Levin and other execs.
The deal “is a necessary step” for the closing of the proposed Endeavor take-private deal with Silver Lake, expected to occur in the first quarter of 2025, the company said.
Endeavor had announced that it was shopping the gaming-related businesses in August. Endeavor said the sale of OpenBet and IMG Arena is expected to close immediately prior to the closing of the Sliver Lake-Endeavor go-private pact.
In 2022, Endeavor closed its $800 million acquisition of OpenBet (a deal originally valued at $1.2 billion). It positioned OpenBet as augmenting its IMG Arena business, which works with sportsbook brands to provide official livestreaming video and data feeds for thousands of events annually.
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