Both global gaming giant Entain and Romanian-based casino group Superbet have withdrawn their applications to purchase a majority stake in Slovenia’s Sports Lottery (portna Loterija). Slovenia’s Ministry of Finance declared the end of negotiations, leaving the future ownership of Sports Lottery in doubt. Concerns over the opening of the Slovenian sports betting market have caused the majority shareholders of Sports Lottery to advocate for the sale.
Entain and Superbet have both decided to withdraw their attempts to acquire a share in Slovenia’s Sports Lottery. Entain, a well-known gambling company, acknowledged its decision but declined to provide any details or comment on potential future involvement in the Slovenian market. Both candidates’ abrupt withdrawals have cast doubt on the future ownership of the state-run sports betting firm.
The Olympic Committee of Slovenia, the Football Association of Slovenia, and the Skiing Association of Slovenia, which jointly own 57% of Sports Lottery, have been lobbying for the sale due to worries over the country’s opening of the sports betting market. Entain’s probable entry, in collaboration with wealthy Czech businesspeople, started negotiations. However, stakeholders emphasized that the buyer must demonstrate a commitment to provide financial assistance for Slovenian sports development.
The Olympic Committee of Slovenia approved Entain’s bid, which ranged between €50 million ($54.5 million) and €60 million ($65.4 million). However, the committee requested that the potential buyer of the Sports Lottery stake commit to financially supporting the country’s sports growth. Furthermore, stakeholders voiced a desire for the state to keep Sports Lottery’s monopoly on the sports betting sector. These conditions were proposed in response to concerns made by state officials participating in the negotiations.
Superbet, an operator of land-based casinos in ten European nations, reportedly offered somewhat more than Entain for the stake in the state-owned sports betting business. However, with both applicants withdrawing their applications, the sale’s fate is unknown.
Entain’s withdrawal from the Sports Lottery bidding process comes just a few months after the company successfully acquired Polish sports betting company STS Holding for £750 million ($952.5 million). The transaction was approved by Entain’s two major owners, Mateusz Juroszek and Zbigniew Juroszek. However, the acquisition was met with criticism when Eminence Capital, a New York-based investment firm, published an open letter to the Entain board, calling the decision “destructive.”
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