Endeavor puts OpenBet and IMG Arena up for sale
While the company seeks a buyer, OpenBet and IMG will continue their operations as normal. The operator has indicated that the "put up for sale" status implies a potential transaction could occur within the next year.
Endeavor acquired OpenBet in September 2022 for around $800 million. In February 2024, Endeavor merged IMG Arena into the OpenBet operations and subsequently launched a strategic review of the combined entity.
Following the announcement of the sale, OpenBet CEO Jordan Levin highlighted that the company has expanded its global customer base by over 40% in the past year. “Endeavor has provided an excellent platform to accelerate and enhance our latest strategy, which is reflected in the significant growth of our global customer base over the year. We are building our business on this robust foundation, and I am genuinely optimistic about OpenBet’s future. I am confident we will sustain our innovation and technology regardless of any changes in our ownership structure,” he remarked.
It’s worth noting that Endeavor reported $1.8 billion in revenue for the second quarter, marking a nearly 40% increase from the same period last year. The sports properties owned by Endeavor generated $894.1 million in revenue for the quarter, a 162.9% increase compared to the previous year.
Interestingly, the news regarding the sale of OpenBet and IMG Arena coincides with Endeavor’s plans to be acquired by private equity firm Silver Lake for $13 billion, a deal expected to finalise in the first quarter of 2025.
9 August 2024, 10:05
Finance
Pennsylvania's Total Gambling Revenue Reaches $525.5 Million
19 September 2024, 11:05
Playtech and Caliente end long dispute over Caliplay money
16 September 2024, 11:09
Fox Seeks to Buy FanDuel Stake Below Market Value
14 September 2024, 15:00
Entain reports revenue growth ahead of investor meeting
10 September 2024, 08:26
Betsson to Close Betsafe Brand Operations in Colorado
5 September 2024, 09:00
How Gambling Helps Grow the Economy
1 September 2024, 15:00
Other news
EveryMatrix Set to Acquire Fantasma Games
19 September 2024, 15:00
Pennsylvania's Total Gambling Revenue Reaches $525.5 Million
19 September 2024, 11:05
Brazil sets deadline for unlicensed gambling operators
18 September 2024, 15:49
Fantasy Life made the footballer an ambiguous offer
18 September 2024, 10:43
Flutter Entertainment to Buy Playtech's Snaitech for $2.56 Billion
17 September 2024, 16:48
BetMGM Becomes General Partner of USA TODAY Sports
17 September 2024, 09:01
Three major Las Vegas casinos to be led by one executive
16 September 2024, 16:51
Playtech and Caliente end long dispute over Caliplay money
16 September 2024, 11:09
UK footballers join new anti-gambling campaign
15 September 2024, 15:04
Star Entertainment Group reminded of possible licence revocation
15 September 2024, 11:51
Fox Seeks to Buy FanDuel Stake Below Market Value
14 September 2024, 15:00
Flutter Entertainment buys more than 56% of Brazil's NSX Group
14 September 2024, 10:06
Articles
Expert Opinion: Why Betting Can't Survive Without AI Analysis of Sports Data
13 September 2024, 11:00
Finnish Gambling Market Reform: Veikkaus Resurgent vs Kindred's Leadership
10 September 2024, 19:00
Brazil's CPI and the Fight Against Match-Phishing
3 September 2024, 17:59
Why California Tribes Are Revolting Against Card Rooms
30 August 2024, 18:00
US Gambling Industry: Can More Deals Be Made?
28 August 2024, 17:00
Categories