New Entain CEE Venture Seeks Growth Opportunities in Central and Eastern European
Entain has formed a partnership with EMMA Capital, a Czech investment firm, to create a new venture Entain CEE.
The venture is aimed at increasing expansion throughout Central and Eastern Europe, with Entain owning 75% of the economic rights. As part of this, Entain CEE will be purchasing the SuperSport Group, Croatia’s premier gaming and sportsbook operator, from EMMA.
SuperSport’s CEO, Radim Haluza, is to lead the new venture. It is hoped that his experience combined with Entain’s vast resources and EMMA’s local knowledge will enable Entain CEE to capitalize on growth opportunities within the region. The venture has been structured so as to allow Entain to work with local operators and help Entain CEE grow.
Entain is set to pay €600 million in cash for 75% of the economic rights in SuperSport and there is the possibility of a further payment of €90 million in early 2023 dependent upon SuperSport’s EBITDA for the financial year ending 2022.
We are excited to create Entain CEE with EMMA to underpin our strategy across the CEE region, and to be acquiring the leading betting and gaming operator in the highly attractive, fully regulated Croatian market. We see Croatia as an exciting, dynamic country which Entain CEE is perfectly positioned to expand from – we are very much looking forward to growing our business responsibly within the country and the region. By bringing together Entain’s global expertise and EMMA’s regional investment track record, we are creating a growth platform with considerable opportunity. Expansion across CEE is a core component of our growth strategy, and we look forward to having Radim on board to help drive this opportunity.
Pavel Horák, the Chief Investment Officer at EMMA, said that the new venture is an opportunity for “creating value for shareholders” and said that they are looking forward to close collaboration with Entain over the coming years.