Entain’s £122m ($159m) takeover of Angstrom Sports came days after Poland approved the £750m ($981m) takeover by BetMGM parent STS Holdings. [Image: Shutterstock.com]
Entain has announced the acquisition of sports forecasting and data analytics company Angstrom Sports for a total consideration of £81 million ($106 million) “plus contingent payments totaling a maximum of £122 million” ($160 million). The news comes just days after the company won approval for another takeover totaling £750m ($981m), and just months after another $150m acquisition.
The Isle of Man-based global gaming giant shared a news release about the Angstrom deal on Monday via Twitter:
Entain CEO Jette Nygaard-Andersen said the Angstrom deal would benefit “US sports betting offering BetMGM:
Especially in the fast-growing markets of gambling and in-play betting.”
On Thursday, Poland’s Competition and Consumer Protection Office approved FTSE100 Group’s £750m ($981m) takeover of STS Holdings. When news of the Polish sportsbook operator deal first broke in June, shares in Entain were down 10%. The price has since risen 4% to £1,257.50 but remains down 7% for the year so far.
Two months ago, Entain acquired Israeli sports betting app 365 for $150 million. Spending on the three sports betting deals alone brings total spending to nearly $1.2 billion, with the Angstrom and 365-degree purchases designed to give Entain-owned BetMGM an edge in the US betting market.
