Entain reportedly preparing sale of PartyPoker
The group is said to have hired advisors from Oakvale Capital.
According to a report from Sky News, Entain is preparing to sell online poker card room, PartyPoker.
The move is said to be an effort to fend off activist investors by trying to improve the core operations of the company.
Recent months have been tough for Entain, and has seen the industry giant pay £585m ($747.4m) after a bribery investigation over its legacy Turkish business; while former CEO Jette Nygaard-Andersen resigned in December following increasing pressure and scrutiny, with M&A and financial performance being closely scrutinised.
The operator also recently announced its full-year 2023 results, which despite showing net gaming revenue growth, still reported a loss of £936.5m.
PartyPoker is said to be viewed as non-core to Entain’s business and in recent years has seen a big loss of customers. The sale could be worth as much as £150m.
The report explains that Entain is working with advisors from Oakvale Capital, an M&A and Strategic Advisory Boutique focusing on gaming, gambling and sports.
Gambling Insider reached out to Entain but the operator declined to comment.
In other news today, Aristocrat is said to be suing Light & Wonder by claiming it engaged in a campaign to copy the game, Dragon Link.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
