Entain is considering selling some of its brands

Entain is one of the largest gambling companies in the United Kingdom. They own brands such as Bwin, Coral, Ladbrokes, PartyPoker and Sportingbet to name a few. According to Financial Times, they are now considering selling some brands and have hired Moelis on Wall Street to advise the board on which brands they should sell.

Which Entain brands could this be?

This would concern brands that are not integrated on their own platform. The brands mentioned are BetCity in the Netherlands, Ladbrokes in Australia, Enlabs in Sweden and Crystalbet in Georgia. Super Sport and STS are also brands that could be included in this list, but due to their good performance it seems unlikely that these two would qualify. It is not known what will happen to Ladbrokes Belgium.

A possible divestment of assets would mean that Entain could shift more of its focus to core markets and brands. Entain must therefore decide which markets to focus on. Non-integrated brands were responsible for about a third of the company’s revenue in the first half of 2023. The British newspaper contacted both Entain and Moelis, but both declined to comment.

Recent reports

Recent reports suggest Entain may divest from the PartyPoker brand and according to one analyst they may sell their stake in BetMGM. Why they would make such decisions is due to intense mergers and acquisitions that have had an effect on the entire company. An investigation into their activities in Turkey also had financial consequences.

As a result of the deferred prosecution agreement with the Crown Prosecution Service (CPS), Entain committed to withdrawing from non-rotated jurisdictions. As a result, they exited as many as 140 markets.

Meanwhile, they parted ways with CEO Jette Nygaard-Andersen, who left amid a decline in their share price. They have now strengthened themselves by recruiting Ronald J. Kramer, former director of Wynn Resorts, to the board of directors.