Entain makes latest US play with Angstrom Sports takeover

Entain is embarking on its latest acquisition, continuing to widen its brand portfolio and expand its US standing by securing a takeover of Angstrom Sports.

The total transaction cost equals £81m plus contingent payments of up to a maximum of £122m, payable over three years, with the FTSE100 betting and gaming group anticipating closure of the acquisition to take place in Q3 2023.

Specific benefits of the buyout highlighted by Entain are Angstrom’s sports modelling, forecasting and data analytics capabilities. The company, based in London but focused primarily on the US market, uses simulation-based predictive modelling to back its pricing and forecasting.

Jette Nygaard-Andersen, Entain CEO, said: “We are delighted that Angstrom will be joining Entain, enabling us to accelerate the development of the Entain Platform. Their next generation forecasting, pricing and risk management capabilities will unlock significant opportunities across BetMGM’s US sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering.  

“This acquisition will provide our customers with an unrivalled sports betting experience underpinned by enhanced in-house data-analytics, a global platform and market leading brand.”

Angstrom’s platform covers a range of US sports betting products and markets, which Entain believes will establish its own sports betting operation as the only of its kind with a ‘full in-house suite of end-to-end analytics, risk and pricing capabilities’ for the American wagering space.

The company is targeting an ‘unrivalled sports betting experience’ for its customers in the US, where it is chiefly active via the BetMGM brand, operated in partnership with prominent US conglomerate MGM Resorts.

Entain projects that stronger in-house capabilities will bolster the number of betting opportunities, optimise parlay and in-play products, and boost pricing and risk management to achieve long-term margin enhancement.

2023 is turning out to be yet another active year for Entain from an M&A point of view, with H1 seeing the company secure terms to acquire Polish market leader STS Holdings and complete the integration of esports platform Sportsflare, the latter purchased form Tidal Gaming Group.

On the firm’s integration into Entain, Sion Colley, CEO of Angstrom Sports, remarked: “We’re excited to join forces with Entain to continue delivering unique and exciting betting opportunities across US sports.  

“Entain shares Angstrom’s passion for innovation and our partnership will enable us to realise our ambitions in bringing best in class products and experiences to sports betting customers through Entain’s market leading global brands.”

SBC News Entain makes latest US play with Angstrom Sports takeover

Check Also

SBC News BGC elects 'standout leader' Grainne Hurst as new CEO of trade body

BGC elects ‘standout leader’ Grainne Hurst as new CEO of trade body

The Betting and Gaming Council (BGC) has appointed Grainne Hurst as the new Chief Executive …

SBC News Gibson's departure sees PE Barons circle Entain assets

Gibson’s departure sees PE Barons circle Entain assets

The assets of Entain Plc are being closely circled by private equity giants, with a …

SBC News Entain confirms imminent exit of Barry Gibson as Chairman

Entain confirms imminent exit of Barry Gibson as Chairman

Entain Plc has informed markets that Chairman Barry Gibson will resign from all corporate governance …