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..