Entain Completes Bet.pt and Enlabs Acquisitions

As the betting and gaming company aims to make strides against its target of spreading into new locally controlled markets, Entain has completed the acquisitions of European operators Bet.pt and Enlabs.

The acquisitions have nearly tripled the number of regulated foreign markets in which Entain operates in the last year, as well as offering possible entry points into new territories.

Entain will make its first foray into the Baltic states with its flagship brand Optibet, with Bet.pt improving its role in the Iberian Peninsula, where it already has a footprint via bwin in Spain, thanks to a revamped SEK 3.7 billion (£316 million) takeover bid.

Highly attractive gaming markets

Rob Wood, CFO and deputy chief executive of Entain said: “Portugal and the Baltic region represent highly attractive, locally regulated and fast-growing gaming markets.”

“Both these acquisitions further deliver on our growth strategy of expanding across fast-growing international markets.”

Looking ahead, the organisation plans to grow the number of regulated markets by integrating favourable regulatory changes in some jurisdictions, such as Canada, with growth into new countries in regions such as Latin America and Central and Eastern Europe.

Entain had activities in 21 fully controlled countries at this point last year, before later incorporating Germany and Colombia. Following the most recent acquisitions, the number has grown to 27.

Regulated market expansion

“These new acquisitions are in line with our strategy to expand into new locally regulated markets” added Wood. “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.”

Entain vowed at the end of last year to work only in countries where sports betting and gambling are legal or in the process of being legal. Currently, 99 percent of income comes from fully controlled and controlling industries, with the company projecting that by the end of 2023, all markets will be fully regulated.