Entain has finalized the acquisition of SupperSport, the most prominent Croatian gaming and sportsbook operator. The purchase is part of Entain’s ambition to expand in the highly attractive Central and Eastern European igaming market.
Entain CEE’s expansion
In August, Entain announced its partnership with Czech investment firm EMMA Capital, a leading firm operating in the Central and Eastern European region. They established a strategic platform Entain CEE created to drive expansion, in which Entain will own a 75% stake.
Entain CEE unique platform is led by SuperSport’s CEO, Radim Haluza, who has a significant experience in this lucrative region. According to their estimation, the regulated betting and gaming market across the CEE region is worth approximately €5bn. This sounds like a fantastic opportunity, especially since the market is expected to grow at least 10% yearly.
For the 75% economic rights in SuperSport, Entain will pay €600 in cash, and a further contingent payment to EMMA based on SuperSport’s EBITDA in early 2023, expected to be €90M. EMMA will contribute their 25% stake to an initial implied valuation of €200.
The expansion strategically starts in Croatia, and a dynamic country perfectly positioned to start from.
Entain Acquires Croatian SuperSport in a deal valued at €920
The decision to start with Croatia is no surprise since it is a very attractive and fully regulated market, with SuperSport as a market leader. Founded in 2000, SuperSport held a 54% market share in Croatia in the first half of 2021. The company’s offerings include online and retail sports betting, virtual sports, digital gaming, and an eCasino platform.
Today, Entain has proudly announced the completion of Croatian SuperSport as the first of many. The overall acquisition is expected to value SuperSport at €920.
Entain’s Chief Executive, Jette Nygaard- Anderson commented that they are very pleased to have completed the acquisition and established Entain CEE as a strategic growth platform in the region. Also, they look forward to work with Radim Haluza alongside EMMA Capital as they execute this fantastic opportunity.
The purchase announcement comes right after Entain secured five gaming licenses in Germany.