Tag: Entain

Nygaard-Andersen: Interest rates won’t stop Entain from acquiring

Entain chief executive Jette Nygaard-Andersen has said high interest rates will not stop the business from making new acquisitions, and may even “open up new doors”.

Nygaard-Andersen spoke on an earnings call after Entain published a third-quarter earnings update. Revenue was up 2% year-on-year for the group, thanks to both record customer numbers and a favourable impact from currency movements.

When asked whether the new macroeconomic environment and high interest rates would make acquisitions difficult due to the costs of borrowing money, Nygaard-Andersen said that this was not necessarily the case.

“We of course remain vigilant and very prudent,” she said. “But the health of the business remains good. We still have a strong pipeline on M&A and we have opportunities that we will continue to pursue.”

The results came after a busy period of acquiring for the business, with Nygaard-Anderson noting the business agreed nine acquisitions in the past 18 months, including those of Unikrn..

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Entain to promote online betting brands at NSW hotels in new deal

Global gambling giant Entain has agreed a new deal with the Australian Hotels Association (AHA), allowing it to promote its online betting brands Neds and Ladbrokes at New South Wales hotels.

The agreement comes despite hotels in the state having an existing exclusivity deal with Tabcorp, the national totalisator board.

As a result, the deal will not involve any Entain wagering terminals, or hotel staff accepting or taking commission for bets. Instead, Ladbrokes and Neds will simply be advertised at these venues.

“For decades now, many NSW hotels have operated PubTABs for Tabcorp at a significant loss – primarily due to high Sky Channel and EBT (betting terminal) fees,” AHA NSW CEO John Whelan said. “In-country NSW it’s even worse, with the majority of country pubs currently running their PubTAB at a loss.

“Today’s partnership with a world leader in Entain will finally give NSW hotels competition and choice.”

An evolution?

Entertain Australia chief executive Dean Shannon said th..

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A lucky escape for Entain?

iGB op-ed: this week, the gambling industry was the subject of front-page news when gaming giant Entain paid a record settlement of £17m (€20.1m/$20.4m) to the GB Gambling Commission for a range of regulatory failings. Marese O’Hagan ponders whether another operator would have had its licence revoked outright.

News of the scale of Entain’s £17m regulatory settlement this week generally ignites sharp debate between anti-industry campaigners and those in support of the sector. And with social media playing such a large part in communication today, it is easier than ever to absorb both sides of the debate.

However, there was little sympathy for Entain on Wednesday morning when the penalty was announced.

In total, Entain has agreed to pay £14m for social responsibility and anti-money laundering (AML) failures carried out by its online gaming business LC International Limited – which operates 13 UK sites, including Coral.co.uk, Ladbrokes.com and FoxyBingo.com – and a further £3m for simi..

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Entain to pay record £17m for wide-ranging failings in GB

The GB Gambling Commission has ordered Entain to pay a record £17.0m (€20.3m/$20.6m) after it identified a series of social responsibility and anti-money laundering (AML) failings across its online and land-based businesses.

Entain will pay £14.0m for failings from LC International Limited (LCI), which runs Entain’s online brands including Ladbrokes.com, Coral.co.uk and Foxybingo.com.

The remaining £3.0m is for the Ladbrokes Betting & Gaming Limited (LBG) land-based business, which operates 2,746 betting shops across Great Britain.

All £17m will be directed towards socially responsible purposes as part of a regulatory settlement, while the Commission will impose a series of additional licence conditions, with an Entain board member tasked with overseeing a new business plan for improvement.

In addition, a third-party audit of compliance with the Licence Conditions and Codes of Practice will take place within 12 months.

As a result of the failings, Gambling Commission chief execut..

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The winners have taken it all

iGB op-ed: Daniel O’Boyle argues that market shares within US sports betting have already shaken out four years on from PASPA’s repeal, with little room for rankings to change or new players to emerge.

It’s become a popular observation that at some point – likely in the late 2000s – much of Western popular culture became “stuck”.

If you watch a film or television show set in 1980 and 1990, it would be obvious which is which, with the fashion, technologies and soundtrack. But something set in 2010 would look an awful lot like today. Rather than something new, we’ve spent much of the last decade and a half chasing nostalgia.

In US sports betting, there’s no doubt that there will continue to be innovation: products will vastly improve and new ways of betting will emerge.

But in terms of market share and which brands matter, we may have reached the point where we’re stuck.

The leaders emerge

In fact, we got most of the way there before PASPA was even repealed: FanDuel and DraftKing..

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Entain to buy SuperSport, prepares for wave of Eastern Europe acquisitions

Online giant Entain has agreed to acquire a 75% stake in Croatian market leader SuperSport for €690m, in what it expects to be the first of many acquisitions in Central and Eastern Europe.

Entain will partner with Czech investment firm EMMA Capital to create a new venture named Entain CEE, in which Entain will own a 75% stake.

This new business – intended to make acquisitions in Central and Eastern Europe – will then acquire SuperSport, which is the largest betting and gaming brand in Croatia.

While Entain cited SuperSport’s 54% market share as one reason for doing the deal, it also suggested that the deal will just be the start of a flurry of M&A activity targeting Central and Eastern Europe.

The Entain board said the business would create “an exciting platform” in this region, led by SuperSport CEO Radim Haluza.

“The combination of Entain’s global scale, access to capital and content, EMMA’s regional knowledge and connectivity, alongside the expert local operational knowledge o..

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Entain takes 1.5 million online bets on Women’s Euro 2022

Entain revealed it has processed 1.5 million online bets on the Women’s Euro 2022 national football team competition, with 14% of these wagers being placed by female customers.

Of the bets placed across Entain’s brands, 46% have been from punters in the UK, ahead of 22% by German customers and 16% Brazil.

In the UK specifically, Ladbrokes and Coral have experienced a five-fold increase in the total number of bets placed on the tournament, up to and including the semi-final, compared to the Women’s Euro 2017. Entain also noted a six-fold increase in bets placed by women.

Almost 60% of outright bets from the UK have been on host England to win the tournament, with this figure being the same for outright bets from Germany.

England will face Germany in the final at Wembley Stadium on 31 July, with 72% of bets placed with Ladbrokes Digital UK being for England to win the match in 90 minutes.

Entain said the increase in betting rates on the Women’s Euro 2022 comes amid an increase in wa..

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Key industry players partner for women’s sports research

A group of leading industry groups and businesses have joined forces to carry out long-term research exploring the growth in women’s sports.

Entain, Stats Perform, the International Betting Integrity Association and the All-In Diversity Project will work in collaboration with the German Sports University of Cologne to conduct the research.

The initiative will focus on the links between the popularity of women’s sports, betting on women’s sports and rising numbers of female sports bettors.

The group will work to publish its findings ahead of football’s Fifa Women’s World Cup 2023, which will take place in Australia and New Zealand.

Confirmation of the new research project comes as the 2022 Uefa European Women’s Football Championship is taking place in England.

The tournament is currently at the quarter-final stage, with England, Spain, Germany, Austria, Sweden, Belgium, France and the Netherlands having progressed from the group stage.

The final will take place on 31 July at Londo..

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