Entain sets aside half a billion for investigation into alleged Turkish bribery offences August 10, 2023 Ladbrokes owner Entain has set aside an ‘eyewatering’ £585m to cover a potential settlement as it nears an end of a bribery investigation into its legacy Turkish facing business, launched in 2019. In an update posted this morning, the global betting giant said it has “a sufficient degree of confidence to take a provision of [...]
What is the Wrexham effect and how is it impacting sports betting? August 3, 2023 Wrexham AFC’s meteoric rise to fame, thanks to the docuseries ‘Welcome to Wrexham’ has caused sports betting to skyrocket in a phenomenon that has been dubbed the ‘Wrexham Effect’. Gambling giant Entain’s UK sportsbook reported a nearly 60 per cent surge in bets during the National League’s 2021-22 season compared to 2017-18 – the 2019-20 [...]
Entain: Ladbrokes owner snaps up US analytics firm for £81m as it continues on deal spree July 17, 2023 Ladbrokes owner Entain has snapped up a US sports pricing and analytics firm for £81m, as it continues on its recent acquisition spree. The betting giant said that on top of the millions it’s splashed on Angstrom Sports, it will also pay contingent payments over the next three years – meaning future payments of £122m are promised to the seller upon [...]
FTSE 100 close: Rio Tinto and Glencore hoist London index as UK economy resumes growth June 14, 2023 London’s FTSE 100 jumped today, led higher by industrial giants offsetting losses among retail and consumer-focused firms and housebuilders. The capital’s premier index added 0.1 per cent to close at 7,602.75 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was largely unchanged at 19,175.50 [...]
Entain: Ladbrokes owner will raise £600m to fund takeover of Poland’s largest bookie June 14, 2023 Ladbrokes owner Entain told markets this morning that it will raise £600m via the placing of shares which will help fund its latest acquisition of a Polish betmaker and other near term deals. The betting giant said yesterday that it would takeover STS Holding S.A – Poland’s largest bookies – in a deal worth £750m. [...]
Ladbrokes-owner Entain likely to face “substantial financial penalty” after bribery investigation May 31, 2023 Entain said it could face a “substantial financial penalty” following investigations into its business practices in Turkey by the Crown Prosecution Service (CPS). The Ladbrokers owner said the offences under investigation at its Turkish facing business, which it held between 2011 and 2017, include breaching the bribery act. Entain admitted that “historical misconduct involving former [...]
Ladbrokes owner gambles on media expansion, buying 365scores for £128m April 5, 2023 Entain has bought 365scores in a deal worth up to $160m (£128m) as the betting giant hopes to expand its global reach. The Ladbrokes owner will pay $150m plus contingent payments of up to $10m for the Israeli sports media company. 365scores has 15m active users and a “fast growing” audience. It provides sports information, [...]