Entain to acquire esports operator Unikrn
The UK-based gaming operator Entain has agreed to acquire Seattle-based Unikrn’s platform, products and team.
UK.- The British gaming giant Entain has agreed to buy esports betting operator Unikrn for an undisclosed sum.
Entain said the acquisition would help make it a leader in esports. It said it planned to use Seattle-based Unikrn’s tech to develop a new platform for “skill-based wagering“. It hopes to complete the deal later this year, subject to approval.
The company said Unikrn’s technology and team “combined with our capabilities, analytics, regulatory experience, player protection and scale, provide a unique industry first platform to address this exciting and growing market”.
Unikrn was founded in 2014. It offers real money and token-based wagering on competitive video game tournaments.
Looking towards the same objective, Entain has also brought in Justin Dellario as head of esports. He comes from occupying the same position at the streaming service Twitch.
Entain chief executive Jette Nygaard-Andersson said: “Entain has built a powerful platform combining our industry leading technology, people and capabilities that is driving significant growth in our existing markets, including the US, but also enables us to grow into new and emerging markets and opportunities related to our core areas of expertise.
“Our platform enables us to meet the evolving needs of our customers as we capitalise on the convergence of media, entertainment and gaming and extend into interactive entertainment. This means the markets we address have the potential to be several times larger than today.
“One exciting opportunity is the growing esports skill-based wagering market. We are building the first scalable platform to address this market and I am delighted that Justin Dellario is joining us to lead our growth in this new area.
“By leveraging the opportunities in front of us, focusing on the customer and expanding our acquisition funnel by creating powerful customer engagement flywheel effects, we have many years of growth ahead that will drive significant incremental value for our stakeholders.”
Entain reports 12.2 per cent rise in revenue for H1
Entain has also reported financial results for the first half of 2021, reporting a 12.2 per cent rise in revenue to £1.77bn, despite a drop of 34 per cent in Germany due the country’s transitional regime to new gambling regulation. The vast majority of revenue came from online.
Nygaard-Andersson said: “Entain’s platform continues to deliver. The quality and diversification of our businesses has enabled us to deliver our 22nd consecutive quarter of double-digit online growth, while also making excellent progress on our strategic priorities.
“This performance is not only a result of our industry leading technology, but also the hard work and dedication of our talented teams of people around the world, and I would like to take this opportunity to thank them.”
Last month, The FTSE 100-listed gaming group revised earnings forecast for the year after a much stronger than expected first half. It now expects full-year EBITDA of between £850m and £900m, up from £843.1m in 2020.
The operator also announced plans to develop work it began with partners in the US through its not-for-profit Entain Foundation to protect video gaming and esports players in the UK and Europe. It plans to expand its work with external partners to provide education and support, and to boost player protection in interactive entertainment.
