Entain CEO champions BetCity and SuperSport deals as key drivers of success
Moves into the Netherlands and CEE with a focus on local expertise will deliver growth and market share, according to Jette Nygaard-Andersen
Entain CEO Jette Nygaard-Andersen has praised the acquisitions of BetCity and SuperSport as “excellent opportunities” to grow the brand.
The London-listed operator is set to complete the acquisition of Netherlands-facing BetCity and Central and Eastern European (CEE) firm SuperSport in Q4 as it continues to ramp up its M&A strategy.
Entain could end up paying €850m for BetCity while its deal for Croatian operator SuperSport could hit €920m, with the deal borne out of a new joint venture with Entain and Czech private equity outfit EMMA Capital, dubbed Entain CEE.
Speaking as part of a quarterly in-house update, Nygaard-Andersen championed the two deals and noted the firm had stayed true to its “M&A heritage” via the acquisitions.
Nygaard-Andersen said: “Our expansion is underpinned by our appetite to only operate in locally regulated or regulating markets, and we’ve seen excellent opportunities to grow our presence, diversify our business and capture market share.”
On BetCity, the CEO said the acquisition showed Entain’s desire to take a leading position in the Netherlands.
She added: “It’s an excellent brand with an established footprint in the region and a well-built customer offering and marketing capability. The team, led by an experienced CEO, is a robust addition to our European brand portfolio and aligns well with the group’s values and ethos.”
Looking at SuperSport, Nygaard-Andersen reflected on her past experiences of operating in the region, and noted the need to lean on local experts to drive success.
She said: “We’ve also demonstrated our intent to lead in the Central and Eastern European market with the formation of Entain CEE. The start of that journey begins with SuperSport, the top sports betting brand in Croatia, and local experts in running a market-leading sportsbook.
“Having worked in the CEE region in the past, I know the importance of local knowledge and expertise in these markets as a critical business factor. I’m very excited about the start of this journey with Entain CEE and, led by a highly successful and proven local leader, will allow the new partnership to utilise the strengths of the Entain platform to best serve the region,” the Entain CEO added.
Elsewhere, Nygaard-Andersen previously noted the current macroeconomic environment may allow Entain to continue to action its M&A strategy while other firms pull back.
After the group’s Q3 2022 results, Nygaard-Andersen said: “While interest rates are not helpful, it doesn’t prohibit us to continue M&A. In the current environment, I would say it might even open up new doors for us and opportunities where we are looking at things and others are pulling back.”