Entain to acquire STS for £750m
If you thought Entain was done with its M&A spree, you were wrong. But you probably saw this coming...
Entain will purchase Polish sportsbook operator STS in a £750m ($946.3m) deal.
The industry giant was already built off the back of a series of mergers – really coming to the fore when GVC acquired Ladbrokes Coral back in 2018.
This is just the latest acquisition for Entain in Europe, while it has also recently moved forward with Tab New Zealand. In the US, it is a 50-50 owner of BetMGM with MGM Resorts.
Back in January, meanwhile, Entain completed its takeover of BetCity in the Netherlands.
CEO Jette Nygaard-Andersen is quoted as saying: “We are delighted to be acquiring the leading sports betting operator in Poland, which is a hugely exciting and fast-growing market.”
Entain shares grew in value at the news, going from £12.83 at the middle of the trading day to £13.21.
Given the size and success of rival Flutter, it is no wonder Entain is continuously looking at mergers as a method of growth.
STS has a strong foothold within the Polish market, reporting growth for the full year 2022 back in March of this year.
Coincidentally, former GVC duo Lee Feldman and Kenny Alexander were recently involved in the purchase of a 6% stake in 888 Holdings.
Consolidation within gaming simply does not stop.
Where will Entain go next? We probably won’t have to wait long to find out. Given its track record within the field of M&A, however, this STS move goes down as a trademark Entain purchase.
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