In a strategic move to enhance its US sports betting portfolio, the multinational betting and gaming group, Entain plc, has confirmed its plans to purchase Angstrom Sports. The deal, which carries a total cost of £81 million along with additional payments that could reach up to £122 million over three years, positions Entain as a significant player in the global sports betting scene.
Angstrom Sports, renowned for its cutting-edge sports modelling, data analytics, and forecasting, stands out in the market with its precise, comprehensive, and quick coverage of US sports betting products. Their simulation-based predictive modelling goes beyond traditional approaches, offering nuanced forecasting and pricing capabilities that redefine betting experiences.
With the new acquisition, Entain is set to be the only global operator offering a comprehensive in-house suite of analytics, risk, and pricing capabilities specifically tailored for US Sports betting products. This strategic union of Angstrom’s data-driven expertise with Entain’s worldwide reach and dominant platform will yield a compelling sports betting experience for the customers.
The improved in-house capabilities will significantly increase the range of betting opportunities, fine-tune parlay and in-play products, and speed up pricing proficiency and risk management. As a result, it’s predicted to drive a long-term enhancement in margins.
The transaction is slated for closure in the third quarter of 2023.
Jette Nygaard-Andersen, Entain’s CEO, shared her enthusiasm about the merger, “We are delighted that Angstrom will be joining Entain, enabling us to accelerate the development of the Entain Platform. 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. This acquisition will provide our customers with an unrivalled sports betting experience underpinned by enhanced in-house data-analytics, a global platform and market leading brand.”
Sion Colley, Angstrom Sports’ CEO, echoed her sentiment, “We’re excited to join forces with Entain to continue delivering unique and exciting betting opportunities across US sports. Entain shares Angstrom’s passion for innovation and our partnership will enable us to realise our ambitions in bringing best in class products and experiences to sports betting customers through Entain’s market leading global brands.”
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