Entain Strengthens US Operations with Angstrom Sports AcquisitionPublished July 21, 2023 by OCR Editor
Entain acquires Angstrom Sports for up to £122m to enhance its US operations. The deal will improve Entain's analytics, risk management, and pricing capabilities, providing customers with optimized parlay and in-play products. The move aims to capitalize on the fast-growing US sports betting market.
Entain, a global leader in the sports betting and gaming industry, has announced its acquisition of Angstrom Sports in a deal valued at up to £122m. The acquisition will enable Entain to bolster its analytics, risk management, and pricing capabilities for its US operations, specifically its joint venture BetMGM with MGM Resorts International.
Angstrom Sports specializes in sports modeling, forecasting, and analytics, utilizing simulation-based predictive modeling to provide sportsbook clients with a comprehensive range of pricing and forecasting capabilities. With a primary focus on the US market, Angstrom Sports covers popular competitions and leagues, delivering valuable insights for sports betting enthusiasts.
The acquisition of Angstrom Sports will allow Entain to offer an end-to-end suite of analytics, risk assessment, and pricing capabilities, thereby enhancing the US sports betting experience for BetMGM customers. This includes expanding betting opportunities, optimizing parlay and in-play products, and delivering unparalleled service.
Jette Nygaard-Andersen, the CEO of Entain, expressed enthusiasm about the acquisition, stating,
We're delighted 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.
Sion Colley, CEO of Angstrom Sports, also shared his excitement about the partnership, emphasizing the shared passion for innovation between the two companies. He believes that the collaboration with Entain will enable Angstrom Sports to deliver unique and exciting betting opportunities for US sports enthusiasts, further solidifying Entain's commitment to providing top-tier products and experiences.
Entain's acquisition of Angstrom Sports aligns with its strategic focus on expanding its product offering and enhancing its presence in key markets. In recent months, the company has pursued various acquisitions to bolster its technological capabilities and strengthen its position in the industry. This includes the purchase of Sportsflare, an esports betting developer, and the relaunch of Unikrn, a prominent player in the esports betting sector.
The Angstrom Sports acquisition is expected to be completed in the third quarter of 2023. Entain's commitment to investing in innovative technologies and products underscores its determination to remain at the forefront of the rapidly evolving sports betting landscape.
Entain's acquisition of Angstrom Sports positions the company for growth in the US sports betting market amid increasing M&A activity driven by technology and product expansion.