Entain has declared the purchase of Angstrom Sports, a specialist in sports modeling, forecasting, and analysis, for a substantial £203 million.
This agreement will empower Entain to provide a complete set of end-to-end analytics, risk, and pricing tools for its US operations, particularly its joint venture with MGM Resorts International, BetMGM.
Entain will pay an initial £81 million upfront, followed by an extra £122 million over a period of three years, resulting in a total of £203 million.
Angstrom employs simulation-based predictive modeling to deliver a variety of pricing and forecasting capabilities for sports betting clients.
Angstrom primarily serves the US market, with its offerings encompassing the most popular US games and leagues.
This acquisition will enhance the customer experience in US sports betting, including expanded betting options, optimized parlays, and in-play products.
The acquisition is anticipated to be finalized in the third quarter of 2023.
Jette Nygaard-Andersen, Entain’s CEO, stated, “We are delighted to welcome Angstrom to Entain, which will enable us to expedite the development of the Entain platform and unlock new US prospects.”
BetMGMs American sports wagering enterprise is poised for a substantial uplift with the procurement of Angstrom Sports, a firm specializing in forecasting, valuation, and risk mitigation. This maneuver will unleash considerable prospects, particularly within the swiftly expanding markets for parlay wagering and live betting.
The acquisition will furnish BetMGM patrons with an unmatched sports betting encounter, courtesy of amplified internal data analysis, a worldwide platform, and a top-tier brand.
Angstrom’s chief executive, Sion Colley, is convinced that merging forces with Entain will generate exceptional and thrilling betting possibilities for American sports enthusiasts. He highlighted Entain’s shared zeal for innovation, asserting that their collaboration will deliver top-notch goods and experiences to sports betting clients through Entain’s premier global brands.
Entain’s recent acquisitions have been fueled by a drive to broaden the market, but there’s also a clear emphasis on augmenting its product offerings.
In June, Entain acquired Tiidal Gaming NZ, the proprietor of esports betting developer Sportsflare, for C$13.2 million. This acquisition brought a range of esports-optimized betting products, such as bet constructors and solutions for players to wager on their own achievements.
This move further solidified Entain’s leadership in esports wagering, following the relaunch of Unikrn in December.
Over the last four weeks, Adam Greenblatt, who has been at the helm of the project since BetMGM’s start in 2018, highlighted the significance of technology and product-focused agreements in the sector during a conversation with iGB.
**A Market Favoring Purchasers**
Entain isn’t the only industry leader that has stepped up its mergers and acquisitions strategy in recent times. Several other operators have been seeking to buy technology and product assets to aid their own growth objectives.
Last month, Fanatics Betting and Gaming (FBG) reached an agreement to purchase PointsBet Holdings’ US operations. This came only after the company made a higher counter-proposal following a competing bid from DraftKings.
PointsBet investors overwhelmingly approved the FBG deal at the end of June. Neither PointsBet nor FBG have established a closing date for the transaction.
Earlier, similar to Entain’s purchase of Angstrom, OpenBet acquired betting technology and trading business Multi Builder in August of the previous year. This occurred before OpenBet was acquired by sports media giant Endeavor Group.
Also last summer, betting supplier Kambi declared a shift towards more modular products instead of its complete sports betting solution. The company stated this could involve a series of acquisitions.
Indeed, just a month later, Kambi acquired front-end technology specialist Shape Games for an initial price of €38.5 million.
Shape Games” is a state-of-the-art platform that assists companies such as Danske Spil, Norsk Tipping, BetWarrior, and JACK Entertainment in retaining their clientele and encouraging repeat business. They possess the resources to make things truly captivating.
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