TIDMENT
RNS Number : 1431G
Entain PLC
17 July 2023
17 July 2023
Entain plc
Acquisition of Angstrom Sports, a specialist provider of US
sports forecasting and data analytics
Entain plc (LSE: ENT), the global sports betting, gaming and
interactive entertainment group ("Entain" or the "Group"), is
pleased to announce the acquisition of Angstrom Sports for a total
consideration of GBP81 million plus contingent payments totalling a
maximum of GBP122 million, payable over three years.
Angstrom Sports is a specialist provider of next generation
sports modelling, forecasting and data analytics. Its
simulation-based predictive modelling creates highly sophisticated
pricing and forecasting capabilities. Angstrom's proprietary
offering is differentiated by its accuracy, richness, speed and
breadth across US sports betting products and markets.
The acquisition secures Entain as the only global operator with
a full in-house suite of end-to-end analytics, risk and pricing
capabilities for US Sports betting products. The combination of
Angstrom's innovative data-driven capabilities alongside Entain's
global scale and market leading platform will offer our customers
an unrivalled US sports betting experience. Enriched in-house
capabilities will provide a significantly greater number of betting
opportunities, optimised parlay and in-play products as well as
accelerating pricing expertise and risk management, delivering
margin enhancement over the long term.
The acquisition is expected to complete during Q3 2023.
Jette Nygaard-Andersen, CEO of Entain, comments:
"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."
Sion Colley, CEO of Angstrom Sports, comments:
"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."
Enquiries:
Investor-Relations - Entain plc investors@entaingroup.com
David Lloyd-Seed, Chief IR & Communications Officer
Davina Hobbs, Head of Investor Relations
Aimee Remey, VP US Investor Relations
Callum Sims, IR Manager
Media - Entain plc media@entaingroup.com
Lisa Attenborough, Head of Corporate Communications
Jay Dossetter, Head of Corporate PR
Jodie Hitch, PR Manager
Powerscourt Tel: +44 (0) 20 7250 1446
Rob Greening/Nick Hayns/Sam Austrums entain@powersco urt-group.com
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the
world's largest sports betting and gaming groups, operating both
online and in the retail sector. The Group owns a comprehensive
portfolio of established brands; Sports brands include BetCity,
bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet,
Sports Interaction and SuperSport; Gaming brands include Foxy
Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and
PartyCasino. The Group owns proprietary technology across all its
core product verticals and in addition to its B2C operations
provides services to a number of third-party customers on a B2B
basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports
betting and iGaming in the US. Entain provides the technology and
capabilities which power BetMGM as well as exclusive games and
products, specially developed at its in-house gaming studios. The
Group is tax resident in the UK and is the only global operator to
exclusively operate in domestically regulated or regulating markets
operating in over 40 territories.
Entain is a leader in ESG, a member of FTSE4Good, the DJSI and
is AA rated by MSCI. The Group has set a science-based target,
committing to be carbon net zero by 2035 and through the Entain
Foundation supports a variety of initiatives, focusing on safer
gambling, grassroots sport, diversity in technology and community
projects. For more information see the Group's website:
www.entaingroup.com
LEI: 213800GNI3K45LQR8L28
About Angstrom Sports
Angstrom offers a complete US sports pricing solution, with
coverage across MLB, NBA, NFL, NHL, NCAAB and NCAAF. Angstrom
specialises in building player-level, play-by-play simulators that
produce the most accurate lines in the industry and facilitate zero
latency in-play pricing. This enables market leading levels of
granularity with the simulation-based nature of its forecasting
technology enabling virtually unlimited markets and products
The management team at Angstrom have over 50 years' experience
across all areas of the sports betting industry including
bookmaking, modelling, proprietary trading, risk management,
infrastructure and service delivery. https://angstromsports.com
Important notices
Certain statements in this announcement are forward-looking
statements, including with respect to Entain's expectations,
intentions and projections regarding its future performance,
strategic initiatives, anticipated events or trends and other
matters that are not historical facts and which are, by their
nature, inherently predictive, speculative and involve risks and
uncertainty because they relate to events and depend on
circumstances that may or may not occur in the future. All
statements that address expectations or projections about the
future, including statements about operating performance, strategic
initiatives, objectives, market position, industry trends, general
economic conditions, expected expenditures, expected cost savings
and financial results are forward--looking statements. Any
statements contained in this announcement that are not statements
of historical fact are, or may be deemed to be, forward--looking
statements. These forward-looking statements, which may use words
such as "aim", "anticipate", "believe", "could", "intend",
"estimate", "expect", "may", "plan", "project" or words or terms of
similar meaning or the negative thereof, are not guarantees of
future performance and are subject to known and unknown risks and
uncertainties. There are a number of factors including, but not
limited to, commercial, operational, economic and financial
factors, that could cause actual results, financial condition,
performance or achievements to differ materially from those
expressed or implied by these forward-looking statements. Many of
these risks and uncertainties relate to factors that are beyond
Entain's ability to control or estimate precisely, such as changes
in taxation or fiscal policy, future market conditions, currency
fluctuations, the behaviour of other market participants, the
actions of governments or governmental regulators, or other risk
factors, such as changes in the political, social and regulatory
framework in which Entain operates or in economic or technological
trends or conditions, including inflation, recession and consumer
confidence, on a global, regional or national basis. Given those
risks and uncertainties, readers are cautioned not to place undue
reliance on forward-looking statements. Forward-looking statements
speak only as of the date of this announcement. Entain and its
affiliates, and any of its or their respective directors, officers,
partners, employees, advisers or agents (collectively,
"Representatives") expressly disclaim any obligation or undertaking
to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise
unless required to do so by applicable law or regulation.
In particular, no statement in this announcement is intended to
be a profit forecast or profit estimate and no statement of a
financial metric (including estimates of EBITDA, profit before tax,
free cash flow or net debt) should be interpreted to mean that any
financial metric for the current or future financial years would
necessarily match or exceed the historical published position of
Entain and its subsidiaries. Certain statements in this
announcement may contain estimates. The estimates set out in this
announcement have been prepared based on numerous assumptions and
forecasts, some of which are outside of Entain's influence and/or
control, and is therefore inherently uncertain and there can be no
guarantee or assurance that it will be correct. The estimates have
not been audited, reviewed, verified or subject to any procedures
by Entain's auditors. Undue reliance should not be placed on them
and there can be no guarantee or assurance that they will be
correct.
This announcement is being issued by and is the sole
responsibility of Entain. No representation or warranty, express or
implied, is or will be made as to, or in relation to, and no
responsibility or liability is or will be accepted by or on behalf
of, Entain (apart from the responsibilities or liabilities that may
be imposed by the Financial Services and Markets Act 2000, as
amended or the regulatory regime established thereunder) or by its
affiliates or any of its Representatives as to, or in relation to,
the accuracy, adequacy, fairness or completeness of this
announcement or any other written or oral information made
available to or publicly available to any interested party or its
advisers or any other statement made or purported to be made by or
on behalf of Entain or any of its affiliates or any of its
Representatives in connection with Entain and any responsibility
and liability whether arising in tort, contract or otherwise
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END
ACQRAMPTMTABMIJ
(END) Dow Jones Newswires
July 17, 2023 02:00 ET (06:00 GMT)
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