Company Announcements

Update on TAB NZ partnership and 365scores

Source: RNS
RNS Number : 1246C
Entain PLC
08 June 2023
 

8 June2023                                                                                                                                                                                                            

Entain plc

("Entain" or the "Group")

 

Update on TAB NZ partnership and 365scores opportunities

 

Entain plc (LSE: ENT), the global sports betting, gaming and interactive entertainment group, is pleased to provide further detail on both its strategic partnership with TAB New Zealand ("TAB NZ"), and its recent acquisition of 365scores.  

Presentations from the members of Entain's senior management team who are leading these opportunities are available at TABNZ-365scores update

These opportunities are expected to deliver a combined EBITDA of approximately £15-20m in FY24 and approximately £50m in FY25 for the Group, implying a FY25 EBITDA multiple of 5x for both transactions.

 

TAB NZ

A presentation from Dean Shannon, CEO of Entain Australia and New Zealand, includes the following key points:

·      A 25-year partnership which commenced on 1 June 2023 and provides unrestricted access to the regulated New Zealand market

·      Significant opportunity to enhance the offering and improve engagement for New Zealand customers and grow the online sports betting market

·      New Zealand betting market of approximately NZ$600 million today, expected to grow by c.35% over five years1

·      Initial consideration of NZ$160 million, with a further NZ$100 million payable subject to legislative geo-blocking implementation

·      50/50 share of gross profits with the partnership providing support to the New Zealand racing and sports industries, with a minimum NZ$150 million annual commitment in the first five years

·      TAB NZ and New Zealand customers will benefit from Entain Australia's leading approach to player safety

 

365scores

A presentation from Sameer Deen, Chief Strategy Officer and President New Ventures, includes the following key points:

·      A leading global sports app with a  highly engaged audience of sports fans

·      Top five2 sports app worldwide, and top three2 sports app across Latin America, with approximately 18 million monthly active customers

·      Consideration of $150 million

·      Fully aligned with Entain's strategy of market and audience expansion through superior sports content

·      Opportunity to drive further growth both directly, as well as more widely for Entain's brands through enriched data and marketing analytics

 

Notes

(1) Source: Entain internal estimates

(2) Source: App Annie; 2023 Monthly Active Users

 

 

Enquiries:

Investor-Relations - Entain plc

David Lloyd-Seed, Chief IR & Communications Officer

Davina Hobbs, Head of Investor Relations

Aimee Remey, VP US Investor Relations

Callum Sims, IR Manager

investors@entaingroup.com

 

 

Media - Entain plc

Lisa Attenborough, Head of Corporate Communications

Jay Dossetter, Head of Corporate PR

Jodie Hitch, PR Manager

media@entaingroup.com

 

 

Powerscourt

Rob Greening/Nick Hayns/Sam Austrums

Tel: +44 (0) 20 7250 1446

entain@powerscourt-group.com

 

Forward-looking statements

This document contains certain statements that are forward-looking statements. They appear in a number of places throughout this document and include statements regarding our intentions, beliefs or current expectations and those of our officers, directors and employees concerning, amongst other things, results of our operations, financial condition, liquidity, prospects, growth, strategies and the business we operate. These forward-looking statements include all matters that are not historical facts. By their nature, these statements involve risks and uncertainties since future events and circumstances can cause results and developments to differ materially from those anticipated. Any such forward-looking statements reflect knowledge and information available at the date of preparation of this document. Other than in accordance with its legal or regulatory obligations (including under the Market Abuse Regulation (596/2014), the Listing Rules, the Disclosure Guidance and Transparency Rules and the Prospectus Rules), the Company undertakes no obligation to update or revise any such forward-looking statements. Nothing in this document should be construed as a profit forecast. The Company and its directors accept no liability to third parties in respect of this document save as would arise under English law.

 

About Entain plc

Entain plc (LSE: ENT) is a FTSE100 company and is one of the world's largest sports betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction and SuperSport; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.

The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain provides the technology and capabilities which power BetMGM as well as exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK and is the only global operator to exclusively operate in domestically regulated or regulating markets operating in over 40 territories.

Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set a science-based target, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects. For more information see the Group's website: www.entaingroup.com

LEI: 213800GNI3K45LQR8L28

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