London-listed betting and gaming operator Entain has entered four new regulated European iGaming markets with the completion of its Enlabs and Bet.pt acquisitions.
The acquisitions increase the number of regulated markets in which Entain operates by almost a third.
This time last year, Entain had operations in 21 fully regulated markets, with this total rising to 27 markets with the addition of Portugal (Bet.pt), Latvia, Lithuania and Estonia (Enlabs).
“These new acquisitions are in line with our strategy to expand into new locally regulated markets,” said Entain chief financial officer and deputy CEO Rob Wood. “We are committed to operating only in countries which are either already fully regulated or in the process of regulating and will continue to look for opportunities to expand our business internationally.”
Looking ahead, Entain expects to further increase the number of regulated markets in which it operates through a combination of positive regulatory developments in certain jurisdictions, such as Canada, and expansion into new countries in regions including Latin America and Central and Eastern Europe.
“Portugal and the Baltic region represent highly attractive, locally regulated and fast-growing gaming markets,” continued Wood. “Both these acquisitions further deliver on our growth strategy of expanding across fast-growing international markets.”
At present, 99 per cent of Entain’s revenue comes from fully regulated and regulating markets, with the operator expecting to increase this to 100 per cent by the end of 2023.
Shares in Entain plc. (LSE:ENT) were trading 2.68 per cent higher at 1,569.50 pence per share in London Tuesday morning.