The worldwide gaming group Entain has announced it has purchased the global sports media company, 365scores. This is a key acquisition for Entain and will see them scoop up all shares. It is costing Entain $150 million, plus there could be up to $10 million in contingent payments.
Who is 365scores?
365scores is a reputable sports media company that operates globally. A key area of the business that interested Entain was how it excelled in providing scores and sports information. What’s more, 365scores provides free games with a sports focus as well as social and editorial content.
Over 15 million people around the world use the services of 365scores and it has a very interactive global audience which grows year after year. You can currently find its app in the top five scores apps worldwide, displaying the massive success and popularity of this growing business.
Why Did Entain Purchase 365scores?
Entain is looking to give its customers more interactive entertainment and top notch content, which made 365scores the perfect fit. This acquisition is seen as helping to improve Entain’s overall business model and will also help to provide more chances for growth. A key goal of Entain is to continue its aspirational worldwide strategy.
Entain’s Other Recent Acquisitions
365scores is not the only acquisition that has been made recently by Entain. The company also agreed to purchase from Tiidal its subsidiary, Tiidal Gaming NZ. This was mostly done to gain control of the company Sportsflare.
Sportsflare is a large provider of betting products but in particular, it focuses on esports vertical. This acquisition will only set to strengthen what Entain has to offer. However, the acquisition has not yet been approved by the shareholders of Tiidal. It is thought that a decision will be made on April 26th 2023 as this is when the next shareholder meeting will take place.
Overall, it has been a fantastic year for Entain with its year-on-year gaming revenue up by 12% to $5.17 billion.