The Latest in a Long Line
Entain is one of the biggest operators in the online gambling world, and it is set to continue to establish its dominance with a £750m takeover of the Polish sportsbook STS. The move will see the operator extends its presence around Europe, being one of several takeovers it has completed in 2023.
Entain’s acquisition is the latest in a long line from a company that has built itself off the back of major mergers and acquisitions. The company really established itself when GVG acquired Ladbrokes and Coral back in 2018, two of the biggest sportsbooks and iGaming operators in the UK.
The operator is one of the biggest in the industry, and it has a presence in several major markets. It is a 50-50 owner of BetMGM and MGM Resorts, two of the most respected names in the US market, and it took over BetCity in The Netherlands back in January this year.
STS will now give Entain a foothold in Poland. The company is the biggest sports betting operator in the country, reporting growth during each quarter throughout 2022. This will now doubt continue to trend in the same direction under the ownership of Entain, with the operator having a proven track record of success across Europe.
Good News for Shareholders
The takeover is good news for shareholders, with Entain’s stock value going from £12.83 up to £13.21 following the announcement. This is still a long way to go if it aims to catch its main rival, Flutter Entertainment, but they will still see this as a major move. Entain’s modus operandi has been built on mergers and acquisitions, and the purchase of STS suggests that the company does not look like slowing down any time soon.
Entain CEO Jette Nygaard-Andersen has spoken positively about the deal, saying that the company is delighted to have purchased one of the leading sportsbooks in Poland, describing the country as a hugely-exciting fast-growing market.
It has been a strong year for Entain so far. Back in March, the company revealed that its overall revenue was up 12% year on year in 2022. The company’s gross profit experienced an impressive increase, rising from £2.43bn, up 11% to £2.73bn. The company has marketed itself as an industry leader in responsible gambling, and it is in charge of some of the top UK online casinos and bookmakers.
