OpenBet confirms completion of management buyout from Endeavor

• The management buyout of OpenBet was completed on Monday this week
• The business transaction comes at a time when OpenBet continues to grow its presence, powering gambling operators in a number of jurisdictions
• OpenBet's CEO, Jordan Levin, shared his excitement about the latest announcement

The world leader in betting and gaming entertainment, OpenBet, announced it has completed its sale by Endeavor Group Holdings, Inc. to OB Global Holdings.

Described as a management buyout, the transaction is backed by Ariel Emanuel and includes participation by OpenBet executives, such as Jordan Levin.

OpenBet continues to expand its presence

The completion of the strategic management buyout comes at a time when OpenBet retains its focus on accelerating growth in a number of markets across the globe.

Recognized for its innovative, best-in-class platform, as well as modular solutions, the company powers more than 200 operators in markets around the world.

OpenBet's services and platform stand out with security, reliability and supreme performance, making it suitable for different jurisdictions.

The milestone transaction also comes at a time when OpenBet continues to grow its footprint in Brazil after a recent launch with BandBet.

Complementing its growth, the company inked a number of partnerships in the region, joining forces with recognizable and trusted operators.

Ultimately, OpenBet's ongoing expansion in Brazil reaffirms its ability to deliver scalable and compliant solutions that promise engaging customer experiences in a market that has significant growth potential.

Besides expanding in Brazil, OpenBet remains focused on growing into the lottery vertical.

The company offers its services to government owned and sponsored companies offering sports betting and lottery services. More than 20 of OpenBet's clients are members of the World Lottery Association (WLA).

OpenBet maintains a growth trajectory, says CEO Levin

Jordan Levin, who will retain his CEO role at OpenBet despite the completion of the management buyout, commented on the topic.

"As this new chapter begins, OpenBet is better positioned than ever to drive market expansion and product innovation while defining the future of betting and gaming entertainment," he revealed.

Finally, Levin pointed out: "Our group is extremely excited about OpenBet’s path forward, and we are confident in our business’ long-term growth profile considering our premium product offering, exceptional talent, and existing momentum in the marketplace."

Per the recent announcement, Endeavor hired the services of Latham & Watkins LLP as a legal advisor.

On the other hand, The Raine Group and Oakvale Capital LLP acted as financial advisors.

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