Entain Announces the Completion of $13M Sportsflare Purchase
LISTEN TO THIS ARTICLE:Entain Holdings, the global gaming and sports betting group, has announced it has recently completed the purchase of Sportsflare, the esports betting services provider, for the price of CAN $13.25 million.
Entain agreed on the deal with Tidal Gaming Group, the owners of Sportsflare in March of this year, subject to regulatory checks. Under the terms of the acquisition, 2.5 million shares will be available to Thomas Hearne, the CEO of Tidal, and 1.9 million shares are to be distributed among employees at Sportsflare.
The completion of this purchase by Entain is part of a strategy outlined by the group’s CEO, Jette Nygaard-Andersen, to make esports a larger part of its business. This also includes the purchase Unikrn at the end of 2022.
Sportsflare boasts a portfolio of products that use cutting technology developed at the company, including its Flash Markets, Betbuilder, and Bet on Yourself services.
The esports betting market is enjoying large growth globally, and senior leadership at Sportsflare believes this genre of gaming is set to get a huge level up this year.
This is a busy period for Entain as the group has just announced a partnership with TAB NZ, which gives the operator a 25-year deal that gives the company unrestricted access to the New Zealand gaming markets.
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