The buyout group is operating under the name OB Global Holdings LLC.
This management buyout allows us to continue executing our vision for increased market expansion and product innovation.
Our group is extremely confident in OpenBets future, said Levin in a statement.
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Levin will continue to lead the business as chief executive.
Endeavors announcement said the transaction is a necessary step for the closing of the proposed Endeavor take-private bySilver Lake.
It has offered stockholders $27.50 per share.
The buyout transaction is subject to customary closing conditions, including approvals by applicable gaming regulatory authorities.
It must close immediately prior to the closing of the Endeavor take-private.
Oakvale Capital and The Raine Group acted as financial advisors to Endeavor.
