Balkan's
Entain Partners with EMMA Capital to Establish Entain CEE
Entain has partnered with EMMA Capital (EMMA), a leading investment firm based in the Czech Republic, to establish a new venture (Entain CEE) to drive expansion in Central and Eastern Europe. Entain will own 75% of the economic rights in Entain CEE. Entain CEE will acquire the SuperSport Group, the leading gaming and sportsbook operator in Croatia from EMMA.
The new platform will be led by SuperSport’s CEO, Radim Haluza, who has significant experience across the region. The combination of Entain’s global scale, access to capital and content, EMMA’s regional knowledge and connectivity, alongside the expert local operational knowledge of Radim and his team, makes Entain CEE uniquely positioned to unlock the significant opportunity across the region. This bespoke structure will allow Entain to join with further leading local operators through Entain CEE to continue to grow this unique platform across the region.
For 75% of the economic rights in SuperSport, Entain will pay EUR 600 million in cash at completion; and a further contingent payment of EUR 90 million made to EMMA in early 2023 based on SuperSport’s EBITDA for the financial year ending 2022.
EMMA will contribute their 25% stake in SuperSport to Entain CEE at an initial implied valuation of €200m, with the contingent payment implying an additional €30m value contributed by EMMA.
The Acquisition is expected to value SuperSport at €920m which implies a transaction multiple of 9.6x 2022 EBITDA, or 9.1x 2022 fully synergised EBITDA.
The Acquisition will be financed through a €700m bridge loan from Deutsche Bank, Lloyds, Mediobanca, NatWest and Santander. The Acquisition will increase Entain’s pro-forma net debt to EBITDA leverage ratio in 2022 by 0.4x. The Acquisition is expected to complete in Q4 2022 and is conditional upon regulatory approvals.
“We are excited to create Entain CEE with EMMA to underpin our strategy across the CEE region, and to be acquiring the leading betting and gaming operator in the highly attractive, fully regulated Croatian market. We see Croatia as an exciting, dynamic country which Entain CEE is perfectly positioned to expand from – we are very much looking forward to growing our business responsibly within the country and the region. By bringing together Entain’s global expertise and EMMA’s regional investment track record, we are creating a growth platform with considerable opportunity. Expansion across CEE is a core component of our growth strategy, and we look forward to having Radim on board to help drive this opportunity,” Jette Nygaard-Anderson, CEO of Entain, said.
“EMMA is very happy to be partnering with the leading global betting, gaming and interactive entertainment business to unlock the opportunity posed by the CEE betting and gaming market. We see the Entain CEE structure as a clear opportunity for creating value for shareholders, and we look forward to working closely and collaboratively with Entain,” Pavel Horák, Chief Investment Officer at EMMA, said.
“I am looking forward to joining with Entain and further building on the significant opportunity presented in this region. The prospect of leading Entain CEE to drive expansion in fully regulated markets is an exciting opportunity, and EMMA’s investment expertise combined with Entain’s world-class platform will give us the competitive edge in delivering on the CEE opportunity,” Radim Haluza, CEO of SuperSport, said.
Balkan's
EEGS 2024 Welcomes Oddin.gg as Silver Sponsor!
We are thrilled to announce that Oddin.gg is joining us as a Silver Sponsor for the Eastern European Gaming Summit (EEGS) 2024 for the third consecutive year! 🚀 As a leading B2B provider in the esports betting space, Oddin.gg is renowned for empowering its partners with a comprehensive end-to-end esports betting ecosystem. Their continued support significantly enriches the experience for all attendees, ensuring a dynamic and engaging EEGS 2024.
This enduring partnership reflects our commitment to fostering growth and innovation within the rapidly evolving gaming industry. With Oddin.gg’s expertise and dedication, EEGS 2024 promises to be a hub of insightful discussions, networking opportunities, and cutting-edge developments that drive the industry forward.
The post EEGS 2024 Welcomes Oddin.gg as Silver Sponsor! appeared first on European Gaming Industry News.
Balkan's
Sportingtech Opens New Office in Sofia
Sportingtech, the award-winning, compliant iGaming platform, opened the doors to its latest office in Sofia, Bulgaria this month. This move to a larger, state-of-the-art facility at Megapark marks another milestone for the company, following the recent opening of its São Paulo office, one of five global locations.
The new Sofia office offers cutting-edge facilities and space for further growth, underscoring Sportingtech’s dedication to providing top-tier infrastructure for its operator and talented, world-class team.
“We pride ourselves on delivering a highly configurable platform that allows our customers to create unique and seamless player experiences. Our investment in this new office and our tech team ensures we can continue pushing the boundaries of innovation, stability and customisation—keeping our clients ahead of the curve,” said Tom Ustunel, CEO of Sportingtech.
The post Sportingtech Opens New Office in Sofia appeared first on European Gaming Industry News.
Balkan's
BGaming extends Winbet partnership with Bulgarian launch
Popular iGaming content provider BGaming has built on its long-term collaboration with Winbet by launching in the Bulgarian market with the operator.
As part of the deal, BGaming will integrate its creative portfolio with Winbet’s platform in Bulgaria, with games such as Minesweeper XY, Wild Cash and Bonanza Billion, made available to its players.
Winbet is one of Eastern and Central Europe’s leading brands, with a presence in markets such as Romania, Bulgaria, Serbia and Croatia. Its Bulgarian arm boasts more than 30 gaming halls in over 20 cities and enjoys a prominent position in the country’s entertainment space.
BGaming first partnered with Winbet in January, helping to elevate the operator’s platform in Romania with its striking and innovative content. Now, it will replicate this success and demonstrate the widespread appeal of its creations in another strategically significant market.
Olga Levshina, CCO at BGaming, said: “We are pleased to celebrate our ongoing partnership with Winbet by collaborating with them once again, this time in Bulgaria.
“So far this year, our titles have been positively received by Winbet’s players in Romania and we look forward to delivering our portfolio to a neighbouring market alongside this major brand.”
Victor Perenovski, Operations Director at Winbet, said: “BGaming’s content has proven quite popular with our users and a great expansion of our portfolio. We are happy to extend our agreement with BGaming’s new and exciting titles. This partnership is an important step in fulfilling our promise to our customers for high quality gaming experience and the most popular games from the best providers.
“The game provider’s portfolio has so much potential for attracting players and is based on detailed analysis of their preferences and behaviours. We anticipate a partnership that will continue to deliver positive results.”
The post BGaming extends Winbet partnership with Bulgarian launch appeared first on European Gaming Industry News.
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