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Endeavor Selling OpenBet And IMG Arena In Ari Emanuel-Backed $450 Million Management Buyout
Endeavor 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 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. OpenBet powers responsible betting and gaming entertainment for more than 200 market leading operators around the globe. The buyout transaction is subject to customary closing conditions, including approvals by applicable gaming regulatory authorities.
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