Endeavor, a global sports and entertainment company, has revealed plans to integrate its sports betting brand OpenBet with its data business IMG Arena under the OpenBet banner. This move aims to create a full sports betting ecosystem for operators and leverage OpenBet’s betting technology with IMG Arena’s data.
The integration will see IMG Arena operate under the OpenBet banner, offering its data to operators, media outlets, and other rights holders. Jordan Levin, chief executive of OpenBet, will lead the company, reporting to Endeavor president and chief operating officer Mark Shapiro. Freddie Longe, former IMG Arena president, will stay with the business as a strategic advisor during the transition period.
Endeavor had acquired OpenBet in September 2022 for $800 million and has been working towards this integration. Shapiro explained that the company saw a holistic integration with IMG Arena as a way to create a leader in the global betting, sports data, and technology industry. He also emphasized that this move would unlock meaningful value for sports rights, intellectual property, and partners.
The company’s sports data and technology division have shown promising growth, with revenue increasing by 167.2% compared to the previous year. OpenBet’s clients include major names in the industry such as DraftKings, FanDuel, SkyBet, Ladbrokes, and William Hill, while IMG Arena works with over 470 leading sportsbook brands, leagues, and federations worldwide.
This integration comes after Endeavor Group announced a strategic review in October, sparking rumors of a potential takeover. The company owns entertainment agencies WME and IMG, as well as sports brands like WWE and UFC. In response to this announcement, private equity firm Silver Lake expressed interest in taking over the group, with no official bid reported as of yet.
Endeavor’s move to integrate its sports betting brand OpenBet with its data business IMG Arena under the OpenBet banner signifies a significant step in its bid to create a full sports betting ecosystem for operators. The company’s strategic review and potential takeover rumors also indicate a period of potential growth and change for the global sports and entertainment giant.