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Entain PLC on Wednesday said Entain CEE has completed its €920 million acquisition of Croatian gaming and sportsbook operator SuperSport Group.
The London-based gaming and sports-betting firm said SuperSport holds around 50% market share in the fully-regulated Croatian market.
‘Its unrivalled brand and online focused sports betting, as well as iGaming offer is underpinned by its proprietary technology solution,’ Entain said.
Previously, Entain had partnered with EMMA Capital, an investment firm operating in the Central & Eastern European region, to establish Entain CEE, which is a strategic platform to drive expansion in the ‘attractive CEE market’.
Chief Executive Officer Jette Nygaard-Anderson said: ‘We are very pleased to have completed the acquisition of SuperSport, which is the first by the newly created Entain CEE. SuperSport expands our operations into the highly attractive and regulated Croatian market, as well as establishing Entain CEE as a strategic growth platform into the wider region.’
In August, Entain announced that it would buy a 75% stake in SuperSport. It agreed to pay €600 million at completion and a further €90 million based on SuperSport’s earnings before interest, tax, depreciation and amortisation for 2022.
For the six months that ended on June 30, the Ladbrokes and Coral owner had posted revenue of £2.09 billion, up 19% year-on-year from £1.77 billion. Pretax profit, however, tumbled by 70% to £39.5 million from £130.6 million.
Shares were up 0.2% at 1,368.00 pence each on Wednesday morning in London.
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