Entain plc, a world-famous sports betting, gaming, and interactive entertainment brand, has successfully finished its purchase of Angstrom Sports, a promising supplier recognizable for its top-notch sports modeling, forecasting, and data analytics services.
This strategic move solidifies Entain's position as a major player in the rapidly growing US market, enabling the company to deliver an exhaustive and urbane betting experience to its customers.
The acquisition originally announced on July 17, 2023, involved an initial review of £81 million paid upon completion. Additionally, Entain has agreed to make additional contingent payments, with a maximum potential value of £122 million, over the course of the next three years.
Angstrom Sports brings a proprietary set of tools and expertise to Entain, making the company the sole global brand with highly refined in-house capabilities in forecasting, analytics, risk control, and pricing particularly tailored for US sports betting markets.
This development marks a significant milestone for Entain, as it combines its existing capabilities, global reach, and cutting-edge platform with Angstrom's innovative solutions.
The strategic advantage gained from this acquisition is expected to result in an unmatched US sports betting experience for customers. Entain's grown capabilities will provide a broader array of betting opportunities and products, setting it apart from competitors in the market.
Angstrom Sports specializes in next-generation sports modeling, allowing Entain to stay ahead of the curve when it comes to offering competitive odds, accurate forecasts, and a comprehensive sports betting portfolio.
As the US sports betting market resumes to grow, Entain is selected to be a leader in supplying next-level sports betting solutions. The purchase of Angstrom Sports represents a key strategic move in Entain's mission to deliver excellence in the rapidly evolving landscape of interactive sports entertainment. This deal further strengthens Entain's position as a global industry leader and enhances its ability to cater to the evolving needs of sports betting enthusiasts in the United States and beyond.
Commenting on the move, Jette Nygaard-Andersen, CEO of Entain, said: “We are delighted that Angstrom has joined Entain, enabling us to accelerate development of the Entain Platform bringing even more product capabilities in-house. Angstrom’s proprietary next generation capabilities will unlock significant opportunities, particularly for our US sports betting offering through BetMGM. We look forward to working closely with the Angstrom team and are excited to provide our customers with an unrivalled sports betting experience.”
Source:
''Entain plc Completion of acquisition of Angstrom Sports'', europeangaming.eu, October 3, 2023.