Entain acquires Sports Interaction in a $300 million deal

Entain acquires Sports Interaction in a $300 million deal

Published: February 12, 2022

Entain completed the purchase of Avid Gaming, the owner of the renowned online betting operator Sports Interaction. The $300 million deal will allow Entain to increase its presence in Canada.

Sports Interaction should be a valuable addition to Entain’s current Canadian business. At the moment, this offering comprises the Party casino and bwin brands.

Entain will benefit from Sports Interaction’s capabilities, experience and partnerships. Combined businesses will offer Canadian customers a broad range of services and products.

Will Golby, CEO at Avid Gaming, will move to Entain together with other management team members.

Sports Interaction has recorded rapid growth over the last couple of years. Gross revenues went up by 40% in 2021 to $76 million. The company generated $18 million in EBITDA and $17.4 million in profits before tax.

It’s estimated the combination will bring around $15 million of synergies in 2023, mostly from technology and content.

Commenting on the latest move, Jette Nygaard-Andersen, CEO of Entain, said:

Sports Interaction is the leading Canadian sports betting and gaming brand and is aligned perfectly with our ambitions of great customer service and ambitious growth, coupled with an unwavering commitment to sustainability. It is highly complementary to our existing operations in Canada, and the combination of its local expertise and Entain’s powerful platform will provide customers with an unrivalled range of exciting and engaging products in this fast-growing market. We look forward to welcoming Will Golby and his team to Entain.

About Entain

Formerly known as GVC Holdings, Entain was founded in Luxembourg in 2004. Today, the company is one of the leading names when it comes to international sports betting and online gambling.

Entain owns several reputable online casinos, such as Coral, Ladbrokes, bwin, Sportingbet, and PartyPoker. It’s headquartered in the Isle of Man and employs more than 2,800 people.

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