Entain makes play for US with Angstrom Sports

Entain is making another play for the United States with the FTSE 100 listed company confirming that it is now bidding for Angstrom Sports and has placed a consideration of £81m. Additional payments may also be awarded up to £122m, but they are contingent on specific performance benchmarks, pushing the value of the deal to potentially £203m. The acquisition is set to be completed in Q3 2023.

Angstrom Sports is a US sports forecasting and data analytics firm that will further strengthen Entain’s growing footprint in North America, and the United States in particular. Angstrom Sports is known for its cutting-edge pricing and forecasting capabilities, which makes it an important acquisition and piece of technology.

Making a first comment about this acquisition, Entain CEO Jette Nygaard-Andersen added that she was delighted to see the company join Entain. This move would allow the company to significantly boost and further develop the Entain Platform. Nygaard-Andersen said:

"Their next generation forecasting, pricing and risk management capabilities will unlock significant opportunities across BetMGM’s US sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering."

In a press release detailing the deal, Entain has praised the company as a technological specialist with a differentiated offering that boasts speed, richness, accuracy, and deep reach into the US sports betting market.

Angstrom Sports CEO Sion Colley was similarly excited about the partnership and said that he was very happy to see Entain make a play for Angstorm – as both companies share the same passion for innovation, and this partnership is an opportunity to realize this and deliver best-in-class products. Colley added:

"We’re excited to join forces with Entain to continue delivering unique and exciting betting opportunities across US sports."

Entain is confident that the acquisition of this new asset will allow it to significantly improve its own read of betting markets and odds, providing consumers with unrivalled betting opportunities in the process. This extends to pre-market and in-play betting solutions. Angstrom will fit in nicely owing to its data-driven capabilities and also benefit from Entain’s established global reach and platform.

This is not the only big item on Entain’s recent M&A portfolio with the company also making a play for STS Holdings in Poland. Entain is confident that this Eastern European pivot, along with its latest move in the United States, will crown with success nevertheless some ongoing unpleasantries with the HM Revenue & Customs in the United Kingdom.

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