Endeavor merges IMG ARENA and OpenBet into single entity
Parent company unveils combined business to be led by OpenBet CEO Jordan Levin as IMG Arena president to take on advisory role
Endeavor has merged OpenBet and IMG ARENA into one entity that will continue operating under the OpenBet brand.
Under the OpenBet guise, IMG ARENA will continue to offer sports data, integrity and fan engagement products to operators and rightsholders.
Endeavor said the combined division would “leverage the individual strengths and operational expertise of both global businesses”.
The combined arms of the business will be led by OpenBet CEO Jordan Levin who will report into Endeavor president and COO Mark Shapiro.
During the transition period, former IMG ARENA president Freddie Longe will become strategic adviser to OpenBet.
Endeavor acquired OpenBet for $800m in 2022 after Light & Wonder divested its sport betting and lottery arm to focus on gaming.
Scientific Games, as Light & Wonder was formerly known, retained its name and focus with lottery products as it was sold to Brookfield Business Partners.
Shapiro said that it was always part of the plan when purchasing OpenBet two years ago to integrate the two businesses.
He said: “When we acquired OpenBet in 2022, we envisioned a holistic integration with IMG ARENA that would create a leader in the global betting, sports data and technology industry.
“Today is the culmination of that ambition. Leveraging Endeavor’s complementary sports and entertainment capabilities, we will unlock meaningful value for the sports rights and IP of our owned and operated properties and, most importantly, for our partners.
“As we make this transition, I would like to recognise Freddie Longe’s vision and leadership of the IMG ARENA business. We are pleased that he will remain with the company in an advisory role.”
Levin added: “We are uniquely positioned as a leading, end-to-end, sports data, technology and content ecosystem for betting operators, rightsholders and media.
“Putting our customers and their players at the heart of our product and tech innovation remains the key to our ongoing success. As an integrated business, we are focused on providing a unique solution to leagues, federations, and sportsbooks worldwide.”