Ladbrokes Owner Entain Takes Over Avid Gaming for CAD300 million

Leading sports betting and gaming group and owner of Ladbrokes casino, Entain PLC (LON: ENT) has reportedly inked an agreement to acquire Deis Ltd, an online sports operator in Canada.

In a deal worth CAD300 million, about GBP174 million, Entain will purchase Deis Ltd, otherwise known as Avid Gaming, and take control of its offices in New Jersey, Ireland, and the Mohawk Territory of Kahnawake, Canada.

Jette Nygaard-Andersen Entain plc CEO

Sports Interaction is the leading Canadian sports betting and gaming brand and is aligned perfectly with our own ambitions of great customer service and ambitious growth, coupled with an unwavering commitment to sustainability. It is highly complementary to our existing operations in Canada, and the combination of its local expertise and Entain's powerful platform will provide customers with an unrivaled range of exciting and engaging products in this fast-growing market. We look forward to welcoming Will Golby and his team to Entain.

Jette Nygaard-AndersenEntain plc CEO

Through the acquisition, Entain will provide Canadian customers with a wide range of products and services. It will also see Avid Gaming CEO Will Golby and his leadership team integrate with Entain's to expand their reach and offerings in the market.

Meanwhile, Entain's shares increased by 2.3% to 1,608.30 pence each in London on Monday. A rise that could be connected to the Avid Gaming takeover news.

Last month, the global gambling operator launched a new global innovation hub to create new experiences for customers.

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