Entain closes Angstrom Sports acquisition

Angstrom Sports, a company that specializes in the delivery of sports betting solutions for the global market, has officially been acquired by Entain, a global behemoth in gaming and sports entertainment. Entain has completed the acquisition at a time when it is further exploring fresh opportunities in the sports betting market in the United States through its joint venture, BetMGM.

This marks a fresh chance for Entain to strengthen its position in global betting markets with the United States showing some of the biggest promises as the country has been on a course of mass-legalization since 2018. Entain will be able to tap into a number of worthwhile solutions that have tuned Angstrom Sports into a high-value target for big gaming companies.

Among the solutions that Angstrom Sports brings to the table are the company’s risk and pricing capabilities, along with its house forecasting, all of which are geared towards the sports betting market in the United States. The original deal announced that Entain would be willing to pay £81m for the company along with an additional £122m that would be based on performance targets, pushing the potential value of the company to a total of £203m.

The news was naturally welcomed by Entain’s top brass and the company’s own chief executive, Jette Nygaard-Andersen who was also excited to be bringing this opportunity home.

"We are delighted that Angstrom has joined Entain, enabling us to accelerate development of the Entain Platform bringing even more product capabilities in-house."

Nygaard-Andersen hailed Angstrom Sports’ technological capabilities as "next-generation" and the path to unlocking excellent opportunities for BetMGM and Entain’s other companies.

"We look forward to working closely with the Angstrom team and are excited to provide our customers with an unrivalled sports betting experience," she wrapped up confident in the opportunity presented by this strategic move.

So far, Angstrom has not been implemented with BetMGM’s product portfolio just yet, but this is surely going to change, as Entain is exploring ways to strengthen not just its presence bug also its performance through solution-driven products that add value to the customer and the end experience.

Image credit: Entain