In October 2021, the prominent gambling conglomerate, Entain, made headlines with its acquisition of Unikrn, as part of its grand plan to fortify its presence in the esports sector.
Fast forward to December 2022, and Entain relaunched the Unikrn brand with ambitious aspirations of expanding its reach into various regulated markets across the globe.
However, less than a year after this grand relaunch, Entain appears to be adopting a more cautious approach.
In a recent statement to iGB, Entain revealed its decision to scale back its direct-to-consumer operations within Unikrn.
The motive behind this shift in strategy, according to Entain, is to optimize its business structure and ensure the most effective delivery of its growth plans.
Entain acknowledged Unikrn’s position as a frontrunner in the esports betting industry, recognizing the substantial potential to harness these capabilities through its existing global brands.
Nevertheless, the statement from Entain did not divulge specific details regarding the future trajectory of the Unikrn division.
This announcement comes on the heels of Entain’s latest acquisition, signaling the continuation of its robust merger and acquisition strategy.
Just recently, Entain finalized its acquisition of Angstrom Sports, a specialist in sports modeling, forecasting, and analytics, with the deal carrying a valuation of up to £203.0m (€234.7m/$247.2m).
This acquisition began with an initial payment of £81.0m.
In addition to the Angstrom Sports acquisition, Entain’s recent buyouts include SuperSport in Croatia, acquired at the close of 2022, and the purchase of Polish sportsbook operator STS Holding.
Furthermore, Entain has been actively pursuing a series of M&A bolt-on deals, with Angstrom being the latest addition.
Looking back, in June, Entain made waves in the industry by acquiring Tiidal Gaming NZ, the owner of esports betting developer Sportsflare, for CA$13.2m.
This move expanded Entain’s arsenal with a range of betting products specifically designed for esports, complementing its Unikrn investment.
Earlier in the year, Adam Greenblatt, the driving force behind the BetMGM venture since its inception in 2018, emphasized the significance of tech and product-focused deals in the ever-evolving landscape of the gambling industry.
This strategic approach continues to guide Entain’s pursuit of growth and innovation in the competitive world of esports and sports betting.