REG - Entain PLC - Acceleration of Unregulated Market Exits

EntainAnnouncement

18/01/2023 10:00

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RNS Number : 0295N  Entain PLC  18 January 2023

For Immediate Release

10.00am 18 January 2023

Entain plc

("Entain" or the "Group")

 

Acceleration of unregulated market exits

 

Entain plc (LSE: ENT), the global sports betting, gaming and interactive
entertainment group, today announces that it has accelerated its plans to exit
a number of unregulated markets where it no longer sees a path to domestic
regulation.

 

On 12 November 2020, Entain announced a clear strategy for sustainability,
growth and innovation.  As part of that strategy, the Group made a commitment
that, by the end of 2023, 100% of the Group's revenue would come from markets
that are nationally regulated.

From today, the Group will accelerate this process by exiting its few
remaining markets where there is no clear path to market liberalisation via
domestic regulation.  The Group is now licensed in more than 30 countries and
will remain in only a small number of markets where it expects changes in
regulation will enable it to obtain domestic licenses in due course. With the
exception of these markets, 100% of the Group's revenue will now be from
domestically regulated markets where it is licensed.  The net gaming revenue
and EBITDA impact from these closures is relatively small and will have no
effect on current expectations.

 

Barry Gibson, Entain's Chair, commented:

"As part of the profound and far-reaching transformation programme that Entain
has undergone in the last few years, we took the decision in 2020 to only
operate in nationally regulated markets. Today's announcement is therefore a
continuation of that strategy, and should be taken as a clear demonstration of
Entain's commitment to the highest standards of corporate responsibility,
governance, sustainability, and player safety.  We stated at the outset that
we would exit any market that wasn't able to regulate at sufficient pace or to
the right standards, and we have acted decisively to do so.  We are proud to
be leading our industry as the only global operator taking this approach of
solely operating in markets where there is domestic licensing."

 

 

Enquiries:

 Investor Relations - Entain plc                           investors@entaingroup.com (mailto:investors@entaingroup.com)

 David Lloyd-Seed, Chief IR & Communications Officer       david.lloyd-seed@entaingroup.com (mailto:david.lloyd-seed@entaingroup.com)

 Davina Hobbs, Head of Investor Relations                  davina.hobbs@entaingroup.com (mailto:davina.hobbs@entaingroup.com)

 Callum Sims, IR Manager                                   callum.sims@entaingroup.com (mailto:callum.sims@entaingroup.com)

 Media - Entain plc                                        media@entaingroup.com (mailto:media@entaingroup.com)

 Lisa Attenborough, Head of Corporate Communications       lisa.attenborough@entaingroup.com (mailto:lisa.attenborough@entaingroup.com)

 Jay Dossetter, Head of Corporate PR                       jay.dossetter@entaingroup.com (mailto:jay.dossetter@entaingroup.com)

 Jodie Hitch, PR Manager                                   Jodie.hitch@entaingroup.com (mailto:Jodie.hitch@entaingroup.com)

 Powerscourt                                               Tel: +44 (0) 20 7250 1446

 Rob Greening/Nick Hayns/Sam Austrums                      entain@powersco (mailto:entain@powerscourt-.com) urt-group.com
                                                           (mailto:entain@powerscourt-.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, operating in
over 40 regulated or regulating 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
(http://www.entaingroup.com)

LEI: 213800GNI3K45LQR8L28

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