STS Warsaw IPO weighed by Juroszek family

The board of STS Holdings has submitted a corporate prospectus to Poland’s Financial Conduct Authority disclosing plans to list the STS SA sportsbook business on the Warsaw Stock Exchange (WSE). 

Despite the submission, STS governance underlines that no final decision has been made on an IPO and the structure of any offer that will be provided to potential investors.

As stands, all company shares are 100% maintained by the Juroszek family as the enterprise founders of the STS, who are undertaking a review of the business and its future options.

STS is recognised as Poland’s biggest sportsbook operator, maintaining a reported +50% of market share according to estimates by Poland’s Ministry of Finance, as the governing authority of Polish gambling. 

Backing its IPO credentials, STS underlined those following improvements to its proprietary systems, whilst its betting portfolio (retail and land-based) had recorded 2020 revenues of PLN 3.3 billion (€750m).

The company underlined its near-total dominance of Polish online gambling, stating that ‘85% of all bets are recorded on STS channels during 2020.

“We have managed nearly half of the domestic market, and for several years we have been operating and developing also abroad.” Read a statement by Mateusz Juroszek, President of the management board of STS Holding and STS SA.

“STS SA has been operating for almost 25 years and after years of dynamic growth – including increasing the scale of operations, changing the operating model from retail to online and securing leading technological solutions or building your own bookmaker system – it is time to consider the next important step.” 

Having reached peak capacity within its home market of Poland, STS has launched its online business within the regulated markets of Estonia and UK – in which it seeks to gain rapid market share.

Should Poland’s financial authorities grant a Warsaw listing, STS will feature as the WSE first listed gambling firm and one of the most valued Polish technology companies employing over 1,500 staff polish staff.

“We decided to file a prospectus with the Polish Financial Supervision Authority because we believe that a group such as STS, with an excellent market position, high recognition and a strong management team, will be attractive to Polish and foreign investors.”- Mateusz Juroszek concluded.