REG - Entain PLC - Acquisition of Angstrom Sports

EntainAnnouncement

17/07/2023 07:00

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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 £81 million plus
contingent payments totalling a maximum of £122 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 (mailto: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 (mailto: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 (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 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 (http://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 (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 therefore is expressly disclaimed.

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