Endeavor Holdings has announced its plans to divest OpenBet and IMG Arena, with Oakvale Capital, a prominent firm specialising in iGaming mergers and acquisitions, assisting in identifying potential buyers.
It is important to highlight that Endeavor previously unified its technology and data operations under the OpenBet brand before opting to sell these assets, only two years after acquiring them from Light & Wonder.
Despite the likelihood of management transitions, OpenBet CEO Jordan Levin remains optimistic about the company's strong standing in the market and its ability to maintain robust performance.
OpenBet has a history of being a volatile asset, having changed ownership multiple times. Originally established as Orbit Technology in 1996, it was acquired by NDS Group in 2000. The brand was rebranded as OpenBet in 2011 and sold to Vitruvian Partners, before being taken over by NYX Gaming in 2016.
Nevertheless, OpenBet boasts a solid reputation in the industry and serves a diverse client base that includes major players such as DraftKings, Paddy Power, PointsBet, Super Group, FanDuel, BetMGM, and William Hill.
