Entain to scale back Unikrn’s B2C operations in strategic shift
Esports betting subsidiary to be refocused into in-house product across existing brands
Entain is “scaling back” its B2C esports betting Unikrn product as the FTSE 100 operator moves to restructure the business.
Entain confirmed to EGR that the group was planning to reposition its esports offering less than a year after soft launching in Brazil and Canada, excluding Ontario.
The operator, which is due to cease accepting deposits on its Unikrn platform from this week, revealed it would be shifting its scope moving forwards.
An Entain spokesperson said: “We can confirm that we are repositioning our esports offering and scaling back our direct-to-consumer operations with Unikrn.
“This is to ensure that our business is structured as effectively as possible, and so that we can best deliver on our strategy and growth plans.
“Unikrn has developed an industry-leading offer around esports betting and we see significant opportunities to leverage these capabilities through our existing global brands,” the spokesperson added.
Entain snapped up Unikrn in August 2021 for an undisclosed sum, with a further £50m of investment earmarked to plough into the business.
The expectations for the esports betting brand had been high, with Entain CEO Jette Nygaard-Andersen bullish on market expansions during a Q4 2022 result call.
At the time, the Dane said: “In 2023, we are looking to expand into other markets [and] we are looking at markets, for example Australia and New Zealand, that have firm regulation and a great esports audience.
“We will be looking for a further 10 markets as we learn and upgrade our products,” she added.
Those additional market launches for Unikrn failed to materialise, with Entain’s expansion efforts this year focused firmly on a sustained pipeline of M&A.
One of those deals was to purchase esports betting supplier Sportsflare from Tiidal Gaming for £13m.
At the time of the purchase, it was expected that the Wellington, New Zealand-based firm would bolster Unikrn’s B2C offering moving forwards with its suite of products.