Ladbrokes and Coral owner Entain agree £128m acquisition deal for Israeli sports data provider 365scores
- Entain has agreed to spend c.£120m upfront for Tel Aviv-based 365scores
- 365Score provides real-time results and statistics on ten different sports
- According to Data.ai, the Israeli company has more than 15 million active users.
Ladbrokes and Coral owner Entain has bought sports media group 365scores, marking its tenth acquisition in the last 18 months.
The FTSE 100 gambling giant has agreed to spend $150 million (around £120 million) upfront for the Tel Aviv-based firm, plus up to £8 million in contingency payments.
Started in 2012 by four former Israel Defense Forces members, 365Scores provides real-time results and statistics across ten different sports, including football, cricket and tennis, and thousands of competitions to sports fans.
Takeover: Ladbrokes owner Enten has bought Israeli sports media group 365Scores, which provides real-time results and statistics on ten different sports such as football and cricket.
The company has over 15 million active users and is among the top five most popular score apps in the world, according to analytics platform Data.ai.
Entain, which also owns the PartyPoker and Foxy Bingo brands, said the transaction will help it broaden the range of interactive content and experiences for its customers.
This is the second acquisition by Anten this year, after agreeing to buy software developer SportsFlare from Tidal Holdings for $13.25 million in March.
In the last 18 months, the group has embarked on an acquisition spree to expand its regional reach and diversify its product range.
Last year, Entain paid €600 million (£507 million) to Czech investment management firm EMMA Capital, with which it runs a joint venture Entain CEE, for a majority stake in Zagreb-based SuperSport.
The company also snapped up Latvian firm Klondika, Polish sports betting provider Totolotec and online Canadian brand Avid Gaming and agreed to acquire Dutch rival BetCity in a deal potentially worth £753 million.
Previously, Entain entered the Portuguese market by acquiring the website Bet.pt, and expanded its presence in the Baltic and Nordic regions through the acquisition of online gaming operator Enlabs.
‘The sports betting and gaming industry is no stranger to inorganic growth,’ said Victoria Schaller, head of investments at Interactive Investor.
‘But [the 365scores] Bolt-on is a little different, pushing the antenna into sports media content, underscoring the importance of data when it comes to targeting new audiences.’
Two years earlier, Enten itself was the subject of an £8.1 billion bid from MGM Resorts, operator of iconic Las Vegas resorts such as the Bellagio and the MGM Grand, which it rejected as being too low.
Five years ago, the two groups formed BetMGM to capitalize on the legalization of sports betting in several US states.
For the last fiscal year, BetMGM’s net gaming revenue increased by 71 percent, while overall for Entain increased by 12 percent.
The company said it expects the joint venture to generate between $1.8 billion and $2 billion in revenue this year, compared to $1.44 billion in 2022, and a positive underlying profit during the second half of the period.
Entain shares were up 0.5 per cent at 1,260.5p on Wednesday afternoon. They have expanded by almost 180 percent in the last three years.
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