TIDMENT
RNS Number : 4891I
Entain PLC
12 August 2021
Entain plc
("Entain" or the "Group")
Total addressable market expected to grow more than three-fold
to c.$160bn
Extension into interactive entertainment with move into
esports
Entain plc (LSE: ENT), the global sports-betting, gaming and
interactive entertainment group, is hosting an investor event today
to outline the exciting growth opportunities ahead for the
business.
Entain's two strategic pillars of growth and sustainability are
the core drivers of our success. Sustainability is a strategic
imperative and we are making significant progress with our
sustainability charter that we will provide an update on in more
detail later in the year. Today's event will focus on the four key
growth opportunities available to the Group:
-- Leadership in the US ($32bn market, from $6bn today)
We are making significant progress in the growing US sports
betting and iGaming market. BetMGM is firmly established as the
number two operator in the market and is targeting a long-term
market share of 20% to 25% of the North American online market,
that we expect will grow from around $6bn today to around $32bn
over the long term.
-- Grow our presence in core markets ($70bn market, from $40bn today)
We are licenced in 27 countries today as well as operating in a
number that are in the process of regulating. We have leadership
positions in a significant number of these with an average market
share currently of around 13% to 15%. We have a strong track record
of driving organic growth and our markets have in-built growth as
online betting and gaming extends its appeal and scale. We estimate
these markets to be worth around $40bn today and expect them to
grow to around $70bn over the long term.
-- Expand into new regulated markets ($40bn market)
We will only operate in regulated markets by the end of 2023,
providing the highest quality of earnings for our stakeholders. We
have a strong track record of M&A and our global brands,
regulatory expertise and scale also enable us to enter markets
organically. Increasing numbers of markets are regulating for
betting and gaming; there are over 50 such markets around the world
that we do not operate in today that we believe will be worth
around $40bn over the long term.
-- Extend into new interactive entertainment experiences ($20bn+ market)
The worlds of media, entertainment and gaming are converging.
Customers want a richer experience, including more content,
interactive experiences, new and free to play games, as well as
social content.
Our Entain platform enables us to offer new and existing
customers an even more engaging experience with additional content
and media, as well as interactive entertainment. This enables us to
increase our customer base, scale and reach as well as drive
engagement, retention and revenues that in turn drives flywheel
effects to our business.
Esports is a rapidly growing market and, with over 450m viewers,
it is now established as a mainstream sport, particularly amongst
the 18-35 demographic. Skill-based wagering for casual esports
gamers is emerging, but existing operators lack scale providing
Entain with a clear opportunity in a new area related to our core
expertise.
Entain has agreed to acquire the technology platform, products
and team of Unikrn, a leading esports betting and entertainment
media company. These, combined with our capabilities, analytics,
regulatory experience, player protection and scale, provide a
unique industry first platform to address this exciting and growing
market. The acquisition is subject to completion which is expected
to happen later this year.
To lead our efforts in driving this new area of growth, we are
delighted to announce the appointment of Justin Dellario as our new
Head of esports. Justin joins from Twitch, the world's leading live
streaming platform for gamers, and brings a wealth of knowledge and
experience in both esports content and operational delivery. He
will report into Sameer Deen who recently joined as our Chief
Strategy Officer and President of New Ventures to help drive our
growth into interactive entertainment.
There is also a clear opportunity in the casual mobile gaming
market which has grown rapidly in recent years. Within this there
are many different games categories a number of which, such as
Social Casino, align with our own strategy, our core offering and
our capabilities. High growth categories that can drive high levels
of acquisition and engagement will further increase our flywheel
effects enabling us to grow our customer base, increase retention
and drive revenues.
We estimate that together the esports wagering and social casino
related markets could add an incremental $20bn+ in addressable
markets for us by 2025.
Jette Nygaard-Andersen, Entain's CEO, commented :
"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. All together 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."
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation EU 596/2016
Enquiries:
Investor Relations - Entain plc investors@entaingroup.com
David Lloyd-Seed, Group Director of IR & Corporate Communications david.lloyd-seed@entaingroup.com
Davina Hobbs, Head of Investor Relations davina.hobbs@entaingroup.com
Jennifer Spencer, Senior Investor Relations Manager j ennifer.spencer@entaingroup.com
Callum Sims, Investor Relations Manager callum.sims@entaingroup.com
Media - Entain plc media@entaingroup.com
Tessa Curtis, Head of Group PR and Media Relations t essa.curtis@entaingroup.com
Jay Dossetter, Head of ESG and Press Office j ay.dossetter@entaingroup.com
Media - Powerscourt Tel: +44 (0) 20 7250 1446
Rob Greening / Elly Williamson / Nick Hayns entain@powerscourt-group.com
Investor Event Conference Call & Webcast - Thursday 12
August 2021 at 2:00pm (BST).
Live audio webcast link: https://brrmedia.news/InvEvnt_21
To participate in Q&A, please also connect via the dial
in:
UK +44 (0)330 336 9126
US +1 929 477 0402
Room Code: 1720890
Participants should join via webcast or conference call dial in,
approximately 15 minutes ahead of the event start.
A replay and call transcript for the Investor Event will be
available on our website:
https://entaingroup.com/investor-relations/results-centre/
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 bwin,
Bet.pt, Coral, Crystalbet, Eurobet, Ladbrokes, Neds and
Sportingbet; Gaming Brands include CasinoClub, Foxy Bingo, Gala,
Gioco Digitale, 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
also entered into a joint-venture with MGM Resorts to capitalise on
the sports betting and gaming opportunity in the US, through
BetMGM. Entain provides the technology which powers BetMGM and
exclusive games and products, specially developed at its in-house
gaming studios. The Group is tax resident in the UK with licenses
in a total of 27 regulated markets. Entain is a leader in ESG, a
member of FTSE4Good, the DJSI, is AA rated by MSCI and is included
in Bloomberg's 50 global leaders in sustainability. The Group has
set Science Based Targets, 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
About Unikrn
Established in 2014, Unikrn is one of the world's leading
esports companies, with a specific focus on wagering and gaming.
Unikrn led the way in developing new products and customer
experiences and have established themselves as the leading esports
wagering operator. Unikrn's exclusive technologies include
unrivalled innovations such as virtual esports, streamer betting
and bet on yourself products, sitting alongside best-in-class
esports focussed traditional betting options such as
esportsbook.
They have won widespread industry recognition as Esports
operator of the Year 2019 &2020, Wagering innovator of the Year
2020, Esports provider of the year 2021 & Esports innovator of
the Year 2021.
Visit Unikrn online at https://unikrn.com
LEI: 213800GNI3K45LQR8L28
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