TIDMENT
RNS Number : 1246C
Entain PLC
08 June 2023
8 June2023
Entain plc
("Entain" or the "Group")
Update on TAB NZ partnership and 365scores opportunities
Entain plc (LSE: ENT), the global sports betting, gaming and
interactive entertainment group, is pleased to provide further
detail on both its strategic partnership with TAB New Zealand ("TAB
NZ"), and its recent acquisition of 365scores.
Presentations from the members of Entain's senior management
team who are leading these opportunities are available at
TABNZ-365scores update .
These opportunities are expected to deliver a combined EBITDA of
approximately GBP15-20m in FY24 and approximately GBP50m in FY25
for the Group, implying a FY25 EBITDA multiple of 5x for both
transactions.
TAB NZ
A presentation from Dean Shannon, CEO of Entain Australia and
New Zealand, includes the following key points:
-- A 25-year partnership which commenced on 1 June 2023 and
provides unrestricted access to the regulated New Zealand
market
-- Significant opportunity to enhance the offering and improve
engagement for New Zealand customers and grow the online sports
betting market
-- New Zealand betting market of approximately NZ$600 million
today, expected to grow by c.35% over five years(1)
-- Initial consideration of NZ$160 million, with a further
NZ$100 million payable subject to legislative geo-blocking
implementation
-- 50/50 share of gross profits with the partnership providing
support to the New Zealand racing and sports industries, with a
minimum NZ$150 million annual commitment in the first five
years
-- TAB NZ and New Zealand customers will benefit from Entain
Australia's leading approach to player safety
365scores
A presentation from Sameer Deen, Chief Strategy Officer and
President New Ventures, includes the following key points:
-- A leading global sports app with a highly engaged audience of sports fans
-- Top five(2) sports app worldwide, and top three(2) sports app
across Latin America, with approximately 18 million monthly active
customers
-- Consideration of $150 million
-- Fully aligned with Entain's strategy of market and audience
expansion through superior sports content
-- Opportunity to drive further growth both directly, as well as
more widely for Entain's brands through enriched data and marketing
analytics
Notes
(1) Source: Entain internal estimates
(2) Source: App Annie; 2023 Monthly Active Users
Enquiries:
Investor-Relations - Entain plc investors@entaingroup.com
David Lloyd-Seed, Chief IR & Communications Officer
Davina Hobbs, Head of Investor Relations
Aimee Remey, VP US Investor Relations
Callum Sims, IR Manager
Media - Entain plc media@entaingroup.com
Lisa Attenborough, Head of Corporate Communications
Jay Dossetter, Head of Corporate PR
Jodie Hitch, PR Manager
Powerscourt Tel: +44 (0) 20 7250 1446
Rob Greening/Nick Hayns/Sam Austrums entain@powersco urt-group.com
Forward-looking statements
This document contains certain statements that are
forward-looking statements. They appear in a number of places
throughout this document and include statements regarding our
intentions, beliefs or current expectations and those of our
officers, directors and employees concerning, amongst other things,
results of our operations, financial condition, liquidity,
prospects, growth, strategies and the business we operate. These
forward-looking statements include all matters that are not
historical facts. By their nature, these statements involve risks
and uncertainties since future events and circumstances can cause
results and developments to differ materially from those
anticipated. Any such forward-looking statements reflect knowledge
and information available at the date of preparation of this
document. Other than in accordance with its legal or regulatory
obligations (including under the Market Abuse Regulation
(596/2014), the Listing Rules, the Disclosure Guidance and
Transparency Rules and the Prospectus Rules), the Company
undertakes no obligation to update or revise any such
forward-looking statements. Nothing in this document should be
construed as a profit forecast. The Company and its directors
accept no liability to third parties in respect of this document
save as would arise under English law.
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the
world's largest sports betting and gaming groups, operating both
online and in the retail sector. The Group owns a comprehensive
portfolio of established brands; Sports brands include BetCity,
bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet,
Sports Interaction and SuperSport; Gaming brands include Foxy
Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and
PartyCasino. The Group owns proprietary technology across all its
core product verticals and in addition to its B2C operations
provides services to a number of third-party customers on a B2B
basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports
betting and iGaming in the US. Entain provides the technology and
capabilities which power BetMGM as well as exclusive games and
products, specially developed at its in-house gaming studios. The
Group is tax resident in the UK and is the only global operator to
exclusively operate in domestically regulated or regulating markets
operating in over 40 territories.
Entain is a leader in ESG, a member of FTSE4Good, the DJSI and
is AA rated by MSCI. The Group has set a science-based target,
committing to be carbon net zero by 2035 and through the Entain
Foundation supports a variety of initiatives, focusing on safer
gambling, grassroots sport, diversity in technology and community
projects. For more information see the Group's website :
www.entaingroup.com
LEI: 213800GNI3K45LQR8L28
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END
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