Gambling company Entain has announced that it has agreed a deal to acquire Polish sports betting company STS in a deal that is worth approximately £750 million (€877.4 million).
According to the announcement, the deal will see Entain acquire 100% of STS for a price of PLN 24.80 per share, valuing the equity value of STS at approximately £750 million (€877.4 million).
STS is considered the market leader in Poland’s regulated sports betting market. In the three years to the end of 2022, its active
users of its online sports betting product grew at a 19% CAGR to reach 783k active users. STS also owns 400 stores, making it the largest retail sports betting operator in the Polish market. In the financial year 2022, STS posted Net Gaming Revenues (NGR) of PLN 663 million (£121/€141.5 million, +17% YoY) and Adjusted EBITDA of PLN 273 million (£50/€58.5 million)
Jette Nygaard-Anderson, Entain’s CEO, commented:
“We are delighted to be acquiring the leading sports-betting operator in Poland, which is a hugely exciting and fast-growing market. STS is an exceptional business with a great brand, a compelling omnichannel offering, and an outstanding CEO and management team. The transaction is perfectly aligned with our Entain CEE strategy and our wider M&A strategy of acquiring high quality businesses with leading positions in attractive, growing and regulated markets. Expansion across Central and Eastern Europe remains a core component of our growth plans, and STS will be an integral part of our platform in that region.”
Mateusz Juroszek, STS’s CEO, commented:
“I am very excited to be joining the board of Entain CEE, and see significant growth opportunities in the Polish market for STS under Entain’s ownership. Entain is a world class operator and has already made a significant investment in this region through SuperSport in Croatia. We could not have found a better partner to help us take STS into the next phase of its growth, and it is clear that Entain shares our ambition and vision for its future. I look forward to continuing to lead and grow STS, and to working in close collaboration with the Entain CEE team.”
Olivia has worked as an editor and writer for major brands across multiple niches. She now focuses on the iGaming and sports betting industries.