Entain stock surges on takeover rumors
There have been recent reports suggesting large private equity companies are considering purchasing all or a portion of Entain.Entain's stock price has increased by five...
Entain acquires Avid Gaming at €206.6m cost
Entain acquired Jersey-based Avid Gaming, online gambling platform provider, at a cost of CAD$300 million/€206.6million.
The gambling platform provider belonged to Middlebrook Investments Limited and had huge progress in its development throughout the last years.
In addition, it’s the possessor of Sport Interaction, a Canada-based live sport wagering site, which is leased only to the Kahnawà:ke’s Mohawk Council and its initiative.
Entain chief executive Jette Nygaard-Andersen remarked:
“Sports Interaction meets all the requirements for our future growth and business development. It completes our performance and operations within Canada. Through the conjunction of Sport Interaction and our flexible platform, we will be able to provide exclusive and highly-entertaining games to our customers”.
Avid Gaming hugely contributes to the Mohawks of Kahnawà:ke and funds the healthcare and social services, cultural and educational programs. The contribution will last also under the possession of Entain.
Due to the contract, Entain tends to amplify its existence by linking its own Bwin and Party properties to the new one.
Kahnawà:ke Mohawk Council’s grand chief, Kahsennenhawe Sky-Deer, noted:
“The collaboration with the high-ranked operator is beneficial for the two sides. Entain is an operator which aims to promote and assist communities and institutions in which it performs”.
The company has requested for a license to launch within Ontario, where private operators will be able to perform after 4th of April. Within the past week, several operators also have granted licenses from the AGCO.
The head of Avid Gaming, Will Golby mentioned:
“It’s an honor to team-up with such a powerful company like Entain. It has a well-processed growth strategy and strong leadership”.
Entain expands Board with Ricky Sandler
Ricky Sandler has joined Entain as the firm’s latest non-Executive Director.Having a career of more than three decades, the new appointee is an excellent candidate to...
