IMG Arena and OpenBet on the market
Global sports and entertainment holding company Endeavor Group is seeking a buyer for its UK-based sports gambling and technology businesses OpenBet and IMG Arena.
The news comes ahead of Endeavor’s go-private deal with US private equity firm Silver Lake, which is expected to close in the first quarter of 2025.
Endeavor revealed in a trading update on 8th August 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.
Endeavor stated that this meant ‘for financial reporting purposes, the businesses are considered Held for Sale and the Sports Data & Technology segment is presented as discontinued operations in the Q2 2024 financial statements.’
However, it insisted that OpenBet and IMG Arena ‘will continue operating as usual.’
Endeavor closed its $800m (£627m) acquisition of OpenBet in 2022, positioning OpenBet sportsbook technology provider as augmenting its IMG Arena business, which works with sportsbook brands to provide official livestreaming video and data feeds for thousands of events annually.
Endeavor announced its deal to go private with Silver Lake in April 2024, three years after the sports, entertainment and talent management company’s IPO, giving the company an equity value of $13bn (£10.1bn).
IMG’s media, events and licensing operations, Endeavor Streaming, the On Location hospitality sales business and the 160over90 marketing agency have also been suggested as potential assets to be sold in the future.
However, TKO, the merged UFC-WWE entity, is exempt from any divestment or sale.
Stay up to date with the world of sports business by subscribing to the Sport Industry Daily.
