Diverse Brands Up for Sale

Entain is reportedly planning to sell off multiple brands, marking a shift from its previous acquisition strategy under former CEO Jette Nygaard-Andersen. The decision to offload brands like PartyPoker signals a change in focus for the gambling giant.

Brands on the Chopping Block

Recent reports indicate that in addition to PartyPoker, Entain may also sell off BetCity (Netherlands), Ladbrokes’ Australian arm, Enlabs (Sweden), and CrystalBet (Georgia). These brands are not integrated into Entain’s overall technology platform and have faced issues, like BetCity resulting in a fine due to undisclosed information at acquisition.

Challenges Ahead for Entain

Despite efforts by interim CEO Stella David to navigate a transitional phase and shed legacy issues, Entain faces financial challenges. A loss of around €1 billion in 2023, partly attributed to fines, has impacted investor confidence, sending the stock price to a multi-year low.

Focus on Regulated Markets in 2024

Entain aims to grow its presence in regulated markets like Norway, the UK, and the USA in 2024. Having already exited unregulated markets, the company is now shedding brands that don’t align with its portfolio strategy. The success of this new approach remains to be seen.