Entain and STS Are Preparing to Close the Deal at the End of August

Entain Plc has received unanimous shareholder approval to complete the acquisition of STS Holdings, an online betting group listed on the Warsaw stock exchange.

Entain’s Board of Directors today announced that its £750 million offer has been accepted by STS shareholders, who own 99.3% of the total share capital, represented by 155,591,656 shares.

Entain currently plans to complete its final M&A on August 24, 2023. As part of this transaction, the company intends to acquire shares that were not included in the original offer, as well as delist STS Holding from the list of companies listed on the Warsaw Stock Exchange.

On June 13, Entain took action to engage with STS Holdings with a £600m investment to acquire a dominant position in the online betting market in Poland (+51% market share).

The operation received additional funding from EMMA Capital, a private equity fund that invested £150m of capital to create a £750m premium for STS Holdings.

Prior to the current shareholder vote, the founders of STS, the Juroszek family, which owns 70% of the company’s shares, has already agreed to Entain’s proposal.

STS Properties will operate as part of a joint venture subsidiary, Entain CEE, with EMMA Capital as the main investor.

Entain CEE was formed last summer after the £690m acquisition of Croatia’s SuperSport. In this partnership with EMMA Capital, Entain retains a 75% stake, ensuring control of the entity.

Radim Haluza will lead the expanded Entain CEE organization and will continuously oversee the growth strategy of STS and SuperSport as individual brands.

Dealers stressed that the acquisition of STS provides Entain with a unique opportunity to become the leading sports betting platform in the Central and Eastern European region, with a leading position in the largest market.

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