Entain Acquires Angstrom Sports in a Mind-Blowing Deal
LISTEN TO THIS ARTICLE:Entain, a leading gambling operator, is set to acquire Angstrom Sports, a specialist in sports modeling, forecasting, and analytics. The deal, valued at up to £200 million, will see Entain pay an initial sum of £81.0 million, with an additional earn-out capped at £122 million, payable over three years.
Angstrom Sports makes use of simulation-based predictive modeling to offer a wide range of pricing and forecasting capabilities to its sportsbook clients. The company primarily serves the US market, providing coverage of the most popular competitions and leagues in the country.
This acquisition will enable Entain, particularly its joint venture with MGM Resorts International and BetMGM, to offer a comprehensive suite of end-to-end analytics, risk assessment, and pricing capabilities for its US operations. The integration of Angstrom's expertise will enhance the US sports betting experience for customers, offering more betting opportunities, optimized parlay and in-play products, and an overall improved service.
The completion of the acquisition is expected to take place in the third quarter of 2023, signaling Entain's commitment to unlocking new opportunities in the US market.
Entain Planning Strategic Expansion in the US
Entain’s recent mergers and acquisitions reflect its dual focus on market expansion and strengthening its product offerings. In June, the company finalized the purchase of Tiidal Gaming NZ, the owner of esports betting developer Sportsflare, for CA$ 13.2 million. This acquisition added popular betting products specifically designed for esports to Entain's portfolio, such as a bet builder, micro-markets, and a platform that allows gamers to bet on their own performance.
Furthermore, Entain's acquisition of Unikrn's product, platform, and technology in October 2021, followed by the relaunch of Unikrn in December of the same year, solidified its presence in the esports betting vertical. The company's strategy of acquiring assets that align with its expansion goals has proven successful in enhancing its market position.
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