Entain acquires live score sports media provider 365scores
The UK-listed gambling company is extending its presence in sports media.
UK.- The FTSE 100-listed gambling group Entain Plc has bought the live score sports media provider 365scores. It has purchased all of the issued shared capital for an initial $150m, to be followed by contingent payments of up to $10m.
The Israeli company 365scores provides live scores and sports information services as well as editorial and social content and sports-focused free-to-play (FTP) games. Entain will incorporate these into its own betting and gaming offerings to offer more interactive content in customer experiences.
It said the acquisition will add “deep expertise in data-driven sports media content” to complement Entain’s “global and scale and market leading platform capabilities”. “The acquisition unlocks further growth opportunities and supports our global strategic ambitions,” the company said.
365scores is based in Tel Aviv. It was founded in 2012 by former Israeli Defence Force (IDF) members. According to Entain, it’s one of the “top five scores apps worldwide” with 15 million active users and more than 50m downloads from the Google PlayStore.
It covers 10 sports, including football, basketball, American football and rugby, and provides Real-time Stats, Breaking News, In-Play Insights, Lineups, Live Tables, Fixtures, Social Buzz and Odds.
Entain in 2023
The acquisition will make 365scores the 32nd brand in Entain’s portfolio. It’s the company’s second acquisition this year after its $13.25m purchase of esports brand Sportsflare from Tidal Holdings last month. Meanwhile, the company says its digital transformation of retail betting shops in the UK is on track.
It’s opened its 100th Digi-Hub in Muirhouse, Scotland, as part of its initiative to make over 200 Ladbrokes and Coral shops as “digital first spaces” by the end of 2024. Digi-Hubs are fitted with more digital touch points, sports betting and gaming terminals, and interactive displays that aim to provide more dynamic content and experiences for customers.
Entain reported revenue of £4.3bn for 2022, up 12 per cent year-on-year. Underlying earnings rose by 13 per cent to £993m, coming in towards the top of its guidance range. Online revenue was down slightly despite a 7 per cent rise in active customers, but retail revenue rose by 66 per cent as operations bounced back following the Covid-19 pandemic.
Challenges came in the form of the company’s exit from the Netherlands (it’s since returned through its acquisition of BetCity in January), late reentry into the German market, a £17m penalty from the British Gambling Commission and affordability checks, which it calculates lost it £100m.
