The leading sports betting company Entain, extends the amount of international regulated markets in which it operates by 30% during the past year, by acquiring another two operators; namely Bet.pt and Enlabs AB.
Entain has now moved from 21 fully regulated markets to 27, and is looking to increase that number through some positive regulatory developments in certain jurisdictions, like Canada; while also expanding into new countries in regions like Central and Eastern Europe and Latin America.
Rob Wood, CFO & Deputy Chief Executive of Entain, stated: “These new acquisitions are in line with our strategy to expand into new locally regulated markets. We are committed to operating only in countries which are either already fully regulated or in the process of regulating and will continue to look for opportunities to expand our business internationally.”
Bet.pt solidifies Entain’s presence in the Iberian Peninsula, as it is one of the leading sports betting and gaming operators in the Portuguese market; the value of which is expected to be increased by 70% to around Euro 580 million by the year 2023.
Enlabs, being the market leader in Latvia, second largest brand in Estonia, and among the top five in Lithuania; will give Entain the opportunity to expand into new territories across the Baltic region.
Rob Wood also said: “Portugal and the Baltic region represent highly attractive, locally regulated and fast-growing gaming markets” said. Both these acquisitions further deliver on our growth strategy of expanding across fast-growing international markets.”
Entain is a group committed to operate only in fully regulated markets, or are in the process of being regulated, and that is where 99% of its revenue comes from. The group aims to get that to 100% by the end of 2023.