Recently esports giants Entain agreed to extend its loan facility from $750m to $1bn in order to increase liquidity and to help fund further expansions into some of the new, developing and safe betting regions around the world.
They have now made another foray into a new region by purchasing Croatian betting operator Sportsbook Group.
The move into the burgeoning central and eastern European area, especially focused on the Balkans, was first announced back in April when Entain announced that they had purchased a stake of 75% in the company for a fee of around $713m.
At the same time, the company also announced that it would partner with EMMA Capital, an investment partner that has a presence and huge experience across the central and eastern Europe region, with a view to maximising further opportunities to expand across the region.
The reason Entain are so interested in this particular region of Europe stems from a report which saw the group estimated that the region could be worth around €5.0bn per annum in terms of gaming and betting
Speaking about the move, the CEE of Entain Jette Nygaard-Anderson commented:
“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.”
“We look forward to working with Radim Haluza [the chief executive of SuperSport] and the SuperSport team alongside EMMA Capital as we execute on this exciting opportunity.”
German Moves Afoot In Busy Period For Entain
News of the move into the Croatian market follows on from an announcement earlier this week that Entain had managed to secure a number of new online gambling licenses in Germany.
Included amongst them were the very first two licenses for the company to begin operating an online poker service in the nation through their Bwin and Ladbrokes brands.
Additionally, a further three licenses granted by the States Administrative Office of Saxony-Anhalt, will allow the company to offer iGaming services through its Bwin, Ladbrokes and SportingBet brands.
It has been a busy period for Entain as it was only a few days ago that they announced a new initiative; an esports-themed mental wellness drive that will cover 40 states and over 450 different schools and clubs across the United States of America.
The move into Croatia also comes after another move in Europe when the company snapped up one of the Netherlands top sports and esports betting sites as part of their overarching plan to increase their profile in new regions around the world.
The move cements Entain as one of the dominant forces in the sports and esports betting industry, owning a chain of top ranking betting sites and services across multiple jurisdictions across the world and with new gambling opportunities opening up in other parts of the globe, Entain’s activities in expansion may well not be finished just yet.