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Entain PLC on Monday said it has bought Angstrom Sports for £81 million.
The London-based sports betting and gambling operator via bwin, Coral, Ladbrokes, PartyPoker and Sportingbet brands, said contingent payments total a maximum of £122 million, which is payable over three years. The acquisition is expected to close in the third quarter of 2023.
Angstrom is a London-based specialist provider of US sports forecasting and data analytics. Entain said the acquisition will help deliver long-term margin enhancement through betting opportunities, in play products and pricing expertise.
Entain Chief Executive Officer Jette Nygaard-Andersen said: ‘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. ’
Shares in Entain were up 0.2% at 1,274.50 each in London on Monday morning.
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