Entain CEE to Purchase STS Holding

Today it was revealed that Entain CEE has come to an agreement to purchase Polish sportsbetting brand STS Holding for a staggering £750 million.

The purchase agreement is subject to approval and would see Entain CEE paying PLN 24.80 per share (a 35% premium), putting the equity value of the agreement at £750 million, with an enterprise value of £690 million. The big winner in the agreement is STS' current CEO Mateusz Juroszek as well as his father Zbigiew, who both hold about 70% of the company's shares. It was noted that the family's foundations will invest into Entain CEE when the deal is signed which will give them 10% equity.

Mateusz Juroszek will remain as the company's CEO, which Entain sees as being crucial in helping maintain the operation and growing it further.

Regarding the purchase agreement, Entain CEE CEO Jette Nygaard-Andersen said, "We are delighted to be acquiring the leading sports-betting operator in Poland, which is a hugely exciting and fast-growing market. STS is an exceptional business with a great brand, a compelling omnichannel offering, and an outstanding CEO and management team.

"The transaction is perfectly aligned with our Entain CEE strategy and our wider M&A strategy of acquiring high quality businesses with leading positions in attractive, growing and regulated markets.

"Expansion across Central and Eastern Europe remains a core component of our growth plans, and STS will be an integral part of our platform in that region."

Mateusz Juroszek also commented, adding: "I am very excited to be joining the board of Entain CEE, and see significant growth opportunities in the Polish market for STS under Entain's ownership.

"Entain is a world-class operator and has already made a significant investment in this region through SuperSport in Croatia. We could not have found a better partner to help us take STS into the next phase of its growth, and it is clear that Entain shares our ambition and vision for its future.

"I look forward to continuing to lead and grow STS, and to working in close collaboration with the Entain CEE team."

It is expected that the purchase will be completed in the third quarter of this year.

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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13 June 2023 - 7:57pm

That's a huge purchase. I wonder if all of these purchases are coming in to beat the fiscal year-end for these companies...

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