Published: 2023/07/20

Updated: 2023/07/20

Author: Alex Matt

Entain Makes a Strategic Leap with the Acquisition of Angstrom Sports

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Entain Acquires Angstrom Sports

Entain Plc, a global powerhouse in the sports betting, gaming, and interactive entertainment sector, has announced its acquisition of Angstrom Sports in a deal worth up to £203m. The deal is projected to close during the third quarter of 2023.

Angstrom Sports, a specialist in sports modelling, forecasting, and analytics, leverages simulation-based predictive modelling to provide an array of pricing and forecasting capabilities to sportsbook clients. By joining forces with Entain, the company is now poised to provide “unique and exciting betting opportunities” for US sports.

The transaction includes an initial payment of £81m, plus additional payments over a three-year period amounting to £122m, bringing the total transaction value to £203m.

The acquisition targets the US market, expanding Entain’s reach in one of the world’s largest sports betting markets. It will provide Entain with the ability to offer a full suite of end-to-end analytics, risk, and pricing capabilities for its US operations. This includes BetMGM, which Entain operates as a joint venture with MGM Resorts International.


Accelerating Growth and Innovation

Entain’s Chief Executive, Jette Nygaard-Andersen, expressed her delight at the new acquisition. She noted that the addition of Angstrom to the Entain fold will 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,” she said.

The acquisition is set to enhance customer experience, delivering more betting opportunities and optimised parlay and in-play products. This will ensure customers enjoy an unrivalled sports betting experience bolstered by superior in-house data-analytics, a global platform, and a leading market brand.

Angstrom’s CEO, Sion Colley, also weighed in on the merger. He stated that the partnership with Entain would enable Angstrom to deliver best-in-class products and experiences to sports betting customers via Entain’s global brands.

“Our partnership will enable us to realise our ambitions in bringing best-in-class products and experiences to sports betting customers through Entain’s market-leading global brands,” Colley said.


Entain’s Product-Led M&A Strategy

This acquisition comes as part of Entain’s product-focused mergers and acquisitions (M&A) strategy. Earlier in June, the company completed the acquisition of Tiidal Gaming NZ, the owner of esports betting developer Sportsflare, for CA$13.2m.

The deal with Sportsflare brought on board a slew of betting products optimised for esports, including a bet builder and a solution for gamers to bet on their personal performance. This further fortified Entain’s foothold in the rapidly growing esports betting vertical and followed the relaunch of Unikrn in December last year.

Adam Greenblatt, who has led the BetMGM venture since its inception in 2018, emphasised the significance of tech- and product-focused deals in the industry.


M&A Trend in the Industry

Entain isn’t alone in ramping up its M&A strategy. Several other key industry players have pursued acquisition tactics to enhance their technological capabilities and product offerings to support expansion goals.

Last month, Fanatics Betting and Gaming (FBG) secured a deal to acquire the US arm of PointsBet Holdings, only after returning with a higher offer following a rival proposal from DraftKings. PointsBet shareholders approved the FBG deal at the end of June.

In August last year, OpenBet acquired betting technology and trading business Multi Builder, ahead of its own acquisition by sport media conglomerate Endeavor Group. Betting supplier Kambi announced that it would shift its focus to modularised products rather than its full sportsbook solution, which would likely include a series of acquisitions. Subsequently, Kambi acquired front-end technology specialist Shape Games for an initial €38.5m.


A Promising Future

This acquisition represents a significant step forward for Entain. The incorporation of Angstrom’s unique capabilities will allow Entain to offer a substantially greater number of betting opportunities and improved in-play products, accelerating its pricing expertise and risk management.

In the end, this strategic acquisition underscores Entain’s commitment to bolster its in-house capabilities and drive its market expansion efforts, particularly in the lucrative US market. As Entain continues to push the envelope with its M&A strategy, it sets the stage for delivering unique and exciting betting opportunities in the sports betting industry.

The Author

The Author

Alex Matt


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