Feb. 8, 2022 -
PRLog -- Entain, the digital gambling giant has just secured its Canadian rival, Avid Gaming, in a deal worth £174million, the firm announced yesterday.
The FTSE 100 listed gambling giant already owns Ladbrokes and Coral, and it's acquisition of Avid Gaming from Middlebrook Investments allows it to expand further into Canada's growing gaming market. Avid's star player is Sports Interaction, Canada's leading betting brand who posted revenues of £44million in 2021. The takeover catapults Entain to front and centre of a market they already have an active presence in.
Together with their application for an Ontario license, the acquisition provides Entain an opportunity to drive further growth, a move that HULT Private Capital's private equity experts proclaim is a
checkmate move deeper into Canada's gaming space.
Shares in Entain yesterday afternoon at 1548 GMT were up 2.6%, at 1,614 pence; "this is just the start of things to come for Entain and for Avid Gaming, we expect to see this acquisition contribute to notable growth in the year ahead" said Chris Bland of HULT Private Capital.
To find out more about their private equity fund, contact HULT Private Capital via the website at www.hultprivatecapital.com
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