Entain reportedly considers sale of CEE business
The move could reshape the ownership structure of major gambling brands in Central and Eastern Europe.
UK.- The FTSE 100 gambling operator Entain is reportedly weighing a significant strategic shift regarding the future of its Central and Eastern Europe operations. Reuters has reported that the parent company of Ladbrokes Coral is considering selling its stake in Entain CEE to the Czech private equity fund EMMA Capital, its partner in a joint venture that was only established in 2022.
If pursued, the move would reshape the ownership structure of two major brands in the region. The joint venture began life in November 2022 with the acquisition of a 75 per cent stake in SuperSport, the Croatian sportsbook. After that, Entain CEE bought STS Holding in August 2023 with EMMA funding 25 per cent of an acquisition that valued Poland’s largest betting operator at roughly £750m.
Why Entain might exit its CEE business
Entain has not commented on the report, but its costly push into Eastern Europe has long divided shareholders. US investor Ricky Sandler, who held around 2.1 per cent of Entain at the time, was one of several who publicly criticised the STS acquisition. He objected to the £600m bookbuild used to finance the takeover and argued that Entain was undervaluing both its BetMGM stake and its international online business.
Sandler joined Entain’s board as a non-executive director in January 2024, but earlier this year his fund Eminence Capital shut down after 27 years, with Sandler exiting both Entain’s board and his 6.5 per cent shareholding.
While Entain CEE revenue grew by 5 per cent in 2025, there have been signs of a downturn more recently. In Q1 2026, net gaming revenue from the region fell 6 per cent, driven by a 30 per cent decline in retail and a 1 per cent decline in online revenue. That’s a notable contrast to the London-listed operator’s stronger results in Australia and the UK.
As well as underperformance in CEE, Entain is also now facing a tougher UK tax environment. It has said that it hopes to absorb as much as possible of the rise in UK Remote Gaming Duty, now 40 per cent as of April. That could prompt it to consider cutting underperforming assets.
Meanwhile, Entain continues its campaign against unlicensed gambling in the UK. It’s launched a World Cup social media awareness campaign featuring the popular creator Big John in a bid to educate consumers.
