OpenBet and IMG Arena put up for sale by Endeavor

OpenBet and IMG Arena are looking for new owners after Endeavor Group confirmed the planned sale of the sports betting and data businesses.

As first announced in April, Endeavor Group is being acquired by Silver Lake Technology Management, with all assets excluding its TKO and WME businesses up for divestiture.

Endeavor said in a trading update Thursday that it has begun talks regarding the sale of its sports betting and data businesses, with both OpenBet and IMG Arena excluded from the company’s results for the second quarter of the year as discontinued operations.

As such, no financial figures were provided for the Sports Data & Technology segment's performance in the second quarter of 2024.

In a separate announcement, OpenBet reported 40 per cent growth in its global customer base over the past year.

In the first quarter of 2024, Endeavor’s Sports Data and Technology segment generated revenue of $90.7 million and an Adjusted EBITDA loss of $9.5 million.

“OpenBet has consistently advanced the vision of delivering an ecosystem that reimagines safe betting entertainment for billions of sports fans. Reflecting on our growth trajectory within the Endeavor network brings me immense satisfaction,” said OpenBet chief executive Jordan Levin.

“Endeavor has been a great platform to accelerate and build on our most recent strategy, as demonstrated by the impressive growth in our global customer base over the course of the year. As we build on this very solid foundation, I’m very excited about what the future holds for OpenBet and confident that we will maintain our track record of innovation and excellence regardless of future changes in our ownership structure.”

Endeavor Group agreed a deal to acquire OpenBet from the company formerly known as Scientific Games (now Light & Wonder) in late 2021 for $1.2 billion. SG (then NYX Gaming) acquired OpenBet in 2016 for £270 million from Vitruvian Partners, who had acquired the business in 2011 for £208 million.