Are you thinking about entering the sports betting and gambling industry? If so, an opportunity may just be coming your way of you want to buy some overseas gambling companies. This is because Entain is Considering Selling its Overseas Gambling Brands to focus on revitalizing its core market operations.
According to Sportsbook Software Information, Entain has taken the initiative by hiring boutique investment firm, Moelis, to oversee this project. For their part, Moelis is advising Entain to dispose of brands that are not already integrated in their company’s platform.
Entain, formerly known as GVC Holdings is a publicly traded company on the London Stock Exchange. It’s claim to fame is owning some of the biggest and most popular sportsbooks and gambling sites. Some of the more well-known brands they own include: Bwin, Ladbrokes Party Poker and SportingBet.
During the era under former Entain CEO, Jette Nygaard-Andersen, the company bought several new brands. However, during her time term, the company underwent several crises from bribery allegations in Turkey to drop in company shares. Hence, Entain is looking for ways to bolster their share prices and focus on their core operations.
Entain is Considering Selling its Overseas Gambling Brands – Reviewing their future
Entain, is reviewing the future of their business and wants to unload brands that hurt their share price. Some of the brands they could unload include BetCity in the Netherland which Entain had bought for £398mn last year. Other Potential brands include Enlabs and CrystalBet which are brands that use their one sports betting platform.
Probably not all gambling brands that are not on the Entain betting platform will be out into consideration. For example, SuperSport was bought in 2022 and STS which was bought last year for £750 million are performing strongly. Thus, it is unlikely they will consider putting them for sell.
This is not the first time Entain has been looking to sell some of their brands to reinvigorate its operations. In fact, last year, Entain has been working with Oakvale Capital to sell PartyPoker. PartyPoker is a popular poker site in the industry and Entain is looking for to get about £150m for it.
By getting rid of these brands, Entain hopes they can focus on core operations like in the UK and Germany. Especially since they have been losing market share in these regions. In addition, it would also allow them to invest more in BetMGM, their joint sportsbook venture with MGM Resorts International.
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