REG - Entain PLC - Update on TAB NZ partnership and 365scores

EntainAnnouncement

08/06/2023 11:15

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RNS Number : 1246C  Entain PLC  08 June 2023

8 June2023
 
 
 
 

Entain plc

("Entain" or the "Group")

 

Update on TAB NZ partnership and 365scores opportunities

 

Entain plc (LSE: ENT), the global sports betting, gaming and interactive
entertainment group, is pleased to provide further detail on both its
strategic partnership with TAB New Zealand ("TAB NZ"), and its recent
acquisition of 365scores.

Presentations from the members of Entain's senior management team who are
leading these opportunities are available at TABNZ-365scores update
(https://entaingroup.com/investor-relations/tab-nz-and-365scores-update/) .

These opportunities are expected to deliver a combined EBITDA of approximately
£15-20m in FY24 and approximately £50m in FY25 for the Group, implying a
FY25 EBITDA multiple of 5x for both transactions.

 

TAB NZ

A presentation from Dean Shannon, CEO of Entain Australia and New Zealand,
includes the following key points:

·      A 25-year partnership which commenced on 1 June 2023 and provides
unrestricted access to the regulated New Zealand market

·      Significant opportunity to enhance the offering and improve
engagement for New Zealand customers and grow the online sports betting market

·      New Zealand betting market of approximately NZ$600 million today,
expected to grow by c.35% over five years(1)

·      Initial consideration of NZ$160 million, with a further NZ$100
million payable subject to legislative geo-blocking implementation

·      50/50 share of gross profits with the partnership providing
support to the New Zealand racing and sports industries, with a minimum NZ$150
million annual commitment in the first five years

·      TAB NZ and New Zealand customers will benefit from Entain
Australia's leading approach to player safety

 

365scores

A presentation from Sameer Deen, Chief Strategy Officer and President New
Ventures, includes the following key points:

·      A leading global sports app with a  highly engaged audience of
sports fans

·      Top five(2) sports app worldwide, and top three(2) sports app
across Latin America, with approximately 18 million monthly active customers

·      Consideration of $150 million

·      Fully aligned with Entain's strategy of market and audience
expansion through superior sports content

·      Opportunity to drive further growth both directly, as well as
more widely for Entain's brands through enriched data and marketing analytics

 

Notes

(1) Source: Entain internal estimates

(2) Source: App Annie; 2023 Monthly Active Users

 

 

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)

 

Forward-looking statements

This document contains certain statements that are forward-looking statements.
They appear in a number of places throughout this document and include
statements regarding our intentions, beliefs or current expectations and those
of our officers, directors and employees concerning, amongst other things,
results of our operations, financial condition, liquidity, prospects, growth,
strategies and the business we operate. These forward-looking statements
include all matters that are not historical facts. By their nature, these
statements involve risks and uncertainties since future events and
circumstances can cause results and developments to differ materially from
those anticipated. Any such forward-looking statements reflect knowledge and
information available at the date of preparation of this document. Other than
in accordance with its legal or regulatory obligations (including under the
Market Abuse Regulation (596/2014), the Listing Rules, the Disclosure Guidance
and Transparency Rules and the Prospectus Rules), the Company undertakes no
obligation to update or revise any such forward-looking statements. Nothing in
this document should be construed as a profit forecast. The Company and its
directors accept no liability to third parties in respect of this document
save as would arise under English law.

 

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)

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