Entain Spends Well Over $1bn in 2023 Acquisition Drive, Share Price Still Down

  • Entain announced its acquisition of Angstrom Sports this week
  • Poland recently approved Entain’s £750m ($981m) STS deal
  • Entain’s share price is down around 7% for the year to date
Entain logo on phone
Entain’s £122m ($159m) acquisition of Angstrom Sports came days after Poland approved the BetMGM parent’s £750m ($981m) takeover of STS Holdings. [Image: Shutterstock.com]

Entain has announced the acquisition of US sports forecasting and data analytics firm Angstrom Sports for a total consideration of £81m ($106m) “plus contingent payments totaling a maximum of £122m” ($160m). The news comes just days after the firm received approval for another acquisition totaling £750m ($981m), and just months after another $150m buyout.

The Isle of Man-headquartered global gaming giant shared a news release of the Angstrom deal on Monday via Twitter:

Chief Executive of Entain Jette Nygaard-Andersen said the Angstrom deal will benefit “BetMGM’s US sports betting offering:

particularly in the fast-growing markets of parlay and in-play wagering.”

On Thursday, Poland’s Office of Competition and Consumer Protection cleared the FTSE100 group’s £750m ($981m) acquisition of STS Holdings. When news of the deal for the Polish sportsbook operator first broke in June, shares in Entain dropped 10%. The price has since risen 4% to £1,257.50 but remains down 7% for the year to date.

Two months prior, Entain acquired Israeli sports betting app 365scores for $150m. The total spend on the three sports betting deals alone comes to approximately $1.2bn, with the purchases of Angstrom and 365scores designed to give the Entain-co-owned BetMGM an edge in the US betting market.

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