Taking pride as a leading sports betting and gaming channel revolutionizing the online and retail industry, Entain has announced the acquisition of two European operators, the Portugal firm Bet. pt and Sweden-based Enlabs. The deal will help the Entain team expand its operational coverage to four new regulated European market domains. With this, Entain has managed to cement a 30% expansion in its international business field.
As part of the collaboration, the acquired firms will help Entain reach new horizons by facilitating entry into multiple sports betting and gaming communities. Entain is a globally acclaimed name in the betting and gaming industry, with operations spread across a total of 27 jurisdictions with recent acquisitions. The company strives to give its customers access to their favorite games and exciting rewards for investments.
The Entain team aspires to lead the gaming industry by expanding services to countries that have stringent regulatory requirements. They are working on providing the latest regulatory developments so that they can satisfy the authorities of regions like Canada, Latin America, Central Europe, etc. The firm is confident that it’ll achieve its goals by the end of 2021 through important partnerships with various entities across countries.
Talking about the acquisition, Rob Wood, CFO & Deputy Chief Executive of Entain stated that it will help them further realize their objective of expansion to rapidly growing international markets. The Baltic and Portugal regions are fast-growing gaming markets.
Interestingly, both Bet. pt and Enlabs will help Entain grow their market share in their respective regions by leveraging their knowledge and expertise. The Bet. pt team will facilitate access to the Portuguese industry that has managed to become a lucrative option for gaming firms. It is predicted that by 2023 the Portugese market will enjoy a 70% rise or account for Euro 580M in earnings. The Enlabs team will use its flagship brand, Optibet, to enable Entain’s entry to the Baltic states, where it enjoys a strong presence. The company is the second-largest operator in Estonia and ranks among the top five in Lithuania.
Entain is committed to working with countries that have a defined, regulated sports-betting and gaming market. Presently, nearly 99% of its earnings are derived from fully-regulated markets. It aspires to raise that number to a 100% by the end of 2023.