Entain, a leading global sports betting and gaming company, has announced its plans to acquire STS, a Polish sports betting company, in a deal worth £750 million. This acquisition is set to strengthen Entain’s position in the fast-growing Polish market and expand its presence in Europe.
STS is the largest sports betting operator in Poland, with a market share of around 47%. The company has a strong online presence and operates in several European countries, including Germany, Norway, Iceland, Luxembourg, and Croatia. STS has been growing rapidly in recent years, with revenues of around £200 million in 2020.
Entain, formerly known as GVC Holdings, is one of the world’s largest sports betting and gaming companies. The company operates several well-known brands, including Ladbrokes, Coral, and bwin. Entain has been expanding its presence in Europe in recent years, with acquisitions of several companies, including Bet.pt in Portugal and Enlabs in the Baltic region.
The acquisition of STS is a strategic move for Entain, as it will allow the company to enter the fast-growing Polish market and expand its presence in Europe. Poland is one of the largest and fastest-growing sports betting markets in Europe, with revenues of around £1.6 billion in 2020. The Polish government has recently introduced new regulations that are expected to boost the growth of the sports betting market in the country.
The acquisition of STS will also provide Entain with access to a large customer base and a strong online platform. STS has over 1.5 million registered customers and a well-established online platform that offers a wide range of sports betting options. The company also has a strong brand reputation and a loyal customer base.
The deal is expected to be completed by the end of 2021, subject to regulatory approvals. Entain will pay £250 million in cash and £500 million in shares for the acquisition of STS. The deal is expected to be earnings accretive for Entain in the first full year of ownership.
In conclusion, the acquisition of STS by Entain is a significant move that will strengthen Entain’s position in the fast-growing Polish market and expand its presence in Europe. The deal is expected to provide Entain with access to a large customer base, a strong online platform, and a well-established brand reputation. This acquisition is a clear indication of Entain’s commitment to growth and expansion in the global sports betting and gaming market.
