Entain has announced the acquisition of US sports forecasting and data analytics firm Angstrom Sports for a total consideration of £81m ($106m) “plus contingent payments totaling a maximum of £122m” ($160m). The news comes just days after the firm received approval for another acquisition totaling £750m ($981m), and just months after another $150m buyout.
The Isle of Man-headquartered global gaming giant shared a news release of the Angstrom deal on Monday via Twitter:
Today, we announce and welcome another incredible business to our growing Entain family.
Welcome to the team, Angstrom Sports!
https://t.co/87dpAGX3qD#ItsYourGame
— Entain (@EntainGroup) July 17, 2023
Chief Executive of Entain Jette Nygaard-Andersen said the Angstrom deal will benefit “BetMGM’s US sports betting offering:
particularly in the fast-growing markets of parlay and in-play wagering.”
On Thursday, Poland’s Office of Competition and Consumer Protection cleared the FTSE100 group’s £750m ($981m) acquisition of STS Holdings. When news of the deal for the Polish sportsbook operator first broke in June, shares in Entain dropped 10%. The price has since risen 4% to £1,257.50 but remains down 7% for the year to date.
Two months prior, Entain acquired Israeli sports betting app 365scores for $150m. The total spend on the three sports betting deals alone comes to approximately $1.2bn, with the purchases of Angstrom and 365scores designed to give the Entain-co-owned BetMGM an edge in the US betting market.
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