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Entain Acquires Angstrom Sports, Sports Data Analytics Firm, for Up to £203m


Entain, the owner of Ladbrokes, has announced a strategic move to bolster its presence in the US sports betting market with the acquisition of Angstrom Sports, a leading data analytics company based in the United States.


The deal involves an initial payment of £81 million, along with additional payments potentially reaching up to £122 million over the next three years, making the total consideration up to £203 million.


Angstrom Sports specialises in sports forecasting and data analytics, employing simulation-based predictive modelling to enhance sports betting experiences. Entain aims to leverage Angstrom's capabilities to strengthen its BetMGM platform in the US, particularly in markets like parlay and in-play wagering.


Jette Nygaard-Andersen, CEO of Entain, highlighted the strategic benefits of the acquisition: "Their next-generation forecasting, pricing, and risk management capabilities will unlock significant opportunities across BetMGM's US sports betting offering, enhancing customer experiences and driving long-term margin growth."


BetMGM, a joint venture between Entain and MGM Resorts formed in 2018, operates in partnership with MGM Resorts, known for its iconic Las Vegas properties such as the Bellagio and MGM Grand.


While facing stricter regulations in the UK, Entain has strategically pivoted towards expanding its foothold in the US, where sports betting has seen widespread legalisation across multiple states. This acquisition follows Entain's recent purchase of Israeli sports data provider 365scores in April, as part of its strategy for growth through targeted acquisitions.


The acquisition of Angstrom Sports is anticipated to be finalised in the third quarter of 2023, pending regulatory approvals and customary closing conditions.


Entain's shares saw a slight decline of 1.6% to £12.52 following the announcement on Monday afternoon, reflecting ongoing market reactions. Despite this, Entain's stock has shown resilience, with an approximate 13% increase over the past year, underlining investor confidence in its strategic initiatives and expansion efforts.

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