Entain Expands Global Regulated Markets by 30% Through Bet.pt and Enlabs AB
Entain, the global sports betting and gaming entertainment group, has increased the number of regulated international markets in which it operates by almost a third over the past year following the completion this week of the acquisitions of two European operators, Bet.pt and Enlabs AB.
The latest acquisitions take Entain into four new regulated European markets and provide a springboard to enter further markets intending to regulate for sports betting and gaming. This time last year Entain had operations in 21 fully regulated markets, later adding Germany and Colombia. That total has risen to 27 following the latest acquisitions.
Looking ahead, the Group expects to increase further the number of regulated markets in which it operates through a combination of positive regulatory developments in certain jurisdictions, like Canada, and expansion into new countries in regions including Latin America and Central and Eastern Europe. This could further increase the scale of its operations in fully regulated international markets by the end of the year.
“These new acquisitions are in line with our strategy to expand into new locally regulated markets” said Rob Wood, CFO & Deputy Chief Executive of Entain. “We are committed to operating only in countries which are either already fully regulated or in the process of regulating and will continue to look for opportunities to expand our business internationally.”
Bet.pt brings to the Group one of the leading sports betting and gaming operators in the Portuguese market, the value of which is anticipated to grow by 70% to around Euro 580 million by 2023. Bet.pt significantly strengthens Entain’s presence in the fast-growing Iberian Peninsula, where it already operates through bwin in Spain.
Enlabs is a leading operator across the Baltic states, taking Entain into this region for the first time with its flagship brand Optibet. Market leader in Latvia, Enlabs is the second largest in Estonia, and among the top five in Lithuania, with offices across the region. Enlabs continues to deliver significant growth in its core markets and, through the acquisition, Entain sees further opportunity to expand into new territories in the region.
“Portugal and the Baltic region represent highly attractive, locally regulated and fast-growing gaming markets” said Rob Wood. “Both these acquisitions further deliver on our growth strategy of expanding across fast-growing international markets.”
At the end of last year, Entain committed to operate only in countries where regulation is already in place to allow sports-betting and gaming or are in the process of regulating to allow it. At present 99% of revenue comes from fully regulated and regulating markets, which the Group has said will become 100% regulated by the end of 2023.