Global gaming powerhouse Entain continues its aggressive growth strategy through mergers and acquisitions, adding another valuable asset to its portfolio. Recently, the company completed the acquisition of Israel-based sports data and results firm, 365Scores, for a total consideration of $160 million. This move aligns with Entain’s ambitious plans for expansion and diversification in the sports betting market.
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Who are 365Scores?
365Scores, a sports data and results firm based in Tel Aviv, was established in 2012 by Israeli Defence Forces ex-members. This Israel-based company has earned a prominent position in the industry, being recognised as one of the top five sports score apps globally. With an impressive user base of 15 million active subscribers and more than 50 million downloads on Google PlayStore, 365Scores has firmly established itself in the market.
Unlocking New Potential
365Scores has its coverage limited to 10 sports, including football, basketball, and soccer; there is ample room for growth. Entain’s acquisition of 365Scores provides an opportunity to enhance consumer offerings, explore new markets, and deliver interactive content that improves customer engagement and retention.
The acquisition of 365Scores is expected to benefit Entain’s partnership with MGM Resorts International through their joint venture, BetMGM. With BetMGM’s remarkable performance, achieving a 71% growth from 2021 to 2022, and projected revenue of up to $2 billion this year, the integration of 365Scores will enhance the platform’s capabilities.
Investor Sentiment and Future Prospects
Despite initial hesitation among investors, as reflected in a temporary drop in Entain’s stock price on the London Securities Exchange, the company’s shares rebounded shortly after the acquisition announcement. While it currently stands at £1,282 (US$1,597), slightly below its 2023 high of £1,587.50 (US$1,977), the stock has shown significant growth, reaching a 180% increase compared to three years ago. With this in mind, we can confidently state that Entain remains poised for further success.
Commitment to Global Expansion
This merger is perfect for helping Entain in new markets in North America, in addition to supporting their leading sports betting sites in Europe that continue to dominate the market. In 2022 alone, the company allocated over $924 million towards mergers and acquisitions worldwide. Notably, Entain’s previous purchases include SuperSport Group in Croatia, which strengthened its foothold in Central and Eastern Europe, and Sportsflare from Tiidal Gaming, solidifying its presence in the eSports market. Now that Entain has 365Scores under its belt, the company now boasts an impressive portfolio of 32 brands, enabling it to provide a wide range of sports-focused products and general betting offerings.
Final Words
Entain’s acquisition of 365Scores reflects its unwavering commitment to growth and innovation in the sports betting industry. By adding the prominent sports data and results firm to its portfolio, Entain gains a valuable asset that enhances its consumer offerings and strengthens its position in the global market. As the company continues to pursue strategic investments, it remains at the forefront of industry trends, ready to capitalise on new growth opportunities and deliver exceptional experiences to its customers worldwide.