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OpenBet "Held for Sale" Despite Impressive Q2 Revenue Growth

Andrew Reid

Last Updated: August 13, 2024 9:42 AM EDT • 1 min 6 sec read.

An OpenBet logo is seen on a smartphone and a pc screen as we look at its parent company, Endeavor, stating its intent to sell the sports technology company.
In this photo illustration, an OpenBet logo is seen on a smartphone and a pc screen. Photo by: Pavlo Gonchar/SOPA Images/Sipa USA.

It may not be a household name, but our best sports betting sites are all fully familiar with OpenBet and what it brings to the business side of the legal sports betting industry.

Many of the world's top sports betting brands, including American betting behemoths DraftKings and FanDuel, are partnered with OpenBet. The technology company offers tailored services to sportsbooks worldwide, including in the service, technology, and content realms. 

But its parent company, Endeavor, is marketing the company with the intention of selling.

Currently solid

It was almost surprising, given recent news and reports about the company's present state. OpenBet reported in early August that in the first half of 2024, the company saw its consumer base grow by more than 40% and now has 200 global partners.

Over the last year, the company has also taken steps to move toward becoming a player in the regulatory space with its acquisition of Neccton. Since the acquisition, OpenBet has ventured into the geolocation space and created OpenBet Locator.

“Introducing OpenBet Locator is an exciting move for us and takes our modular product offering to a new level," said Jordan Levin, CEO of OpenBet. "Built in-house and leveraging AWS technology, we have developed a strong proposition that can be tailored to meet unique business needs."

Prepping for sale

Despite reporting $1.75 billion in Q2 revenue, Endeavor last listed OpenBet as "Held for Sale" and is taking steps to make the company more attractive to prospective buyers. 

One such step is combining OpenBet with IMG ARENA, which focuses on sports data. Grouping both companies together allows Endeavor to pitch the duo as able to provide sports data, technology, geolocation services, and content. 

Despite Endeavor's very clear intention to move on from OpenBet, the company is expected to continue operating with business as usual.

Written By:
Andrew Reid
Andrew is a Publishing Editor at Sportsbook Review. He graduated from Acadia University with a degree in Kinesiology, working as a personal trainer and in injury rehab, and then attended the College of Sports Media in Toronto to attain a diploma in Radio and Television Sports Broadcasting. Andrew has been involved in the sports betting and fantasy sports space since joining the FNTSY Sports Network in 2014, where he worked as a producer, director, and occasional on-air talent on various shows focusing on sports betting and DFS content. Prior to joining SBR, he spent multiple years with the USA Today Network as an editor and writer. Living in Newfoundland, Andrew frequents grey market sportsbooks, but in the past, when he's lived in regulated areas, he's become well-versed with all of our best sportsbooks. As strictly a casual bettor, he enjoys making touchdown parlays with friends (bro-lays), sweating out golf cut parlays during majors, playing same-game parlays for fun, and chasing long-shot bets. He also enjoys using sportsbooks that have solid iGaming and casino platforms. As the old guy on staff, he has an affinity for industry news, which confuses some, but shh ... quiet ... the news is on.