Entain Plc has announced that it is accelerating its exit from certain unregulated markets, highlighting its commitment to achieve 100% growth out of working on the regulated gaming markets.
FTSE 100 Gambling Group executives have told investors that they will no longer operate in «unregulated markets where there is no prospect for domestic regulation.»
The company’s management said the decision was necessary to achieve a corporate goal set in November 2020 to generate 100% of sales and EBITDA in regulated markets, however Entain did not specify which markets the company decided to exit from.
Investors were informed: «As part of that strategy, the Group made a commitment that, by the end of 2023, 100% of the Group’s revenue would come from markets that are nationally regulated.
From today, the Group will accelerate this process by exiting its few remaining markets where there is no clear path to market liberalization via domestic regulation.»
The Entain brand is currently licensed in over 30 countries. The company will continue to maintain its presence in markets where legislation is expected to be amended to allow licensing.
Barry Gibson, chairman of Entain, noted: «As part of the profound and far-reaching transformation programme that Entain has undergone in the last few years, we took the decision in 2020 to only operate in nationally regulated markets.
We stated at the outset that we would exit any market that wasn’t able to regulate at sufficient pace or to the right standards, and we have acted decisively to do so. We are proud to be leading our industry as the only global operator taking this approach of solely operating in markets where there is domestic licensing.»
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