{"id":281407,"date":"2023-07-17T15:03:17","date_gmt":"2023-07-17T20:03:17","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=281407"},"modified":"2023-07-17T15:07:38","modified_gmt":"2023-07-17T20:07:38","slug":"entain-shelling-out-266-million-in-cash-for-angstrom-sports","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/","title":{"rendered":"Entain Extends Buying Binge with $266M Purchase of Angstrom Sports"},"content":{"rendered":"

Entain Plc (OTC: GMVHY) continued its acquisitive ways, announcing Monday it’s purchasing sports analytics provider Angstrom Sports for $266 million in cash.<\/p>\n

\"Entain
Entain CEO Jette Nygaard-Andersen poses in the company’s Ennovate innovation lab. The gaming operator said Monday it’s buying Angstrom Sports for $266 million in cash. (Image: The Australian<\/em>)<\/figcaption><\/figure>\n

The Ladbrokes owner will pay $106 million upfront and $159.71 million in contingent payments over three years. The transaction is expected to be completed in the current quarter.<\/p>\n

Angstrom Sports is a specialist provider of next generation sports modelling, forecasting and data analytics. Its simulation-based predictive modelling creates highly sophisticated pricing and forecasting capabilities,\u201d according to a statement issued by Entain. \u201cAngstrom\u2019s proprietary offering is differentiated by its accuracy, richness, speed and breadth across US sports betting products and markets.\u201d<\/p><\/blockquote>\n

The acquisition of Angstrom Sports extends Entain\u2019s buying binge<\/a>, which has seen the Coral owner gobble up numerous, smaller firms over the past two years, bolstering both its bookmaking and technology portfolios.<\/p>\n

Angstrom Sports Could Bolster BetMGM<\/h2>\n

Entain owns half of BetMGM, which is one of the largest US online sportsbook operators. MGM Resorts International (NYSE: MGM) controls the other 50%.<\/a><\/p>\n

\n

Among Entain\u2019s primary roles in that partnership is providing tech and risk analytics. The purchase of Angstrom Sports could bolster the buyer\u2019s competencies in those areas while shoring up BetMGM\u2019s offerings in the fast-growing, highly lucrative live betting and same-game parlay<\/a> (SGP) markets.<\/p>\n<\/div>\n

\u201cWe are delighted that Angstrom will be joining Entain, enabling us to accelerate the development of the Entain Platform,\u201d said Entain CEO Jette Nygaard-Andersen in the statement. \u201cTheir next-generation forecasting, pricing, and risk management capabilities will unlock significant opportunities across BetMGM\u2019s US sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering.\u201d<\/p>\n

London-based Angstrom Sports provides pricing solutions for US sports, including college basketball and football, Major League Baseball (MLB), the NBA, NFL, NHL, and the PGA Tour, according to its website.<\/p>\n

Implications of Angstrom Sports Buy<\/h2>\n

With the Angstrom Sports deal, Entain is signaling a clear commitment to the US market, which it has access to via BetMGM.<\/p>\n

\n

It\u2019s no secret in the sports wagering industry that MGM would like to control all of BetMGM and while the casino operator\u2019s executives have said they won\u2019t revisit a takeover of Entain, there\u2019s chatter among analysts that MGM could move to bump Entain out of the BetMGM equation because it has the financial firepower to do so.<\/p>\n<\/div>\n

Other market participants believe that Entain needs to be careful with how it funds acquisitions because missteps on that front could invite unwanted advances<\/a> from suitors with offers that don\u2019t adequately value the company.<\/p>\n","protected":false},"excerpt":{"rendered":"

Entain Plc (OTC: GMVHY) continued its acquisitive ways, announcing Monday it’s purchasing sports analytics provider Angstrom Sports for $266 million in cash. The Ladbrokes owner will pay $106 million upfront and $159.71 million in contingent payments over three years. The transaction is expected to be completed in the current quarter. Angstrom Sports is a specialist […]<\/p>\n","protected":false},"author":46,"featured_media":238320,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,32093,1074,16693],"tags":[81903,81966,80968,82041],"acf":[],"yoast_head":"\nEntain Shelling Out $266 Million In Cash For Angstrom Sports<\/title>\n<meta name=\"description\" content=\"Entain adds another acquisition in announcing $266 million deal for Angstrom Sports.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Entain Shelling Out $266 Million In Cash For Angstrom Sports\" \/>\n<meta property=\"og:description\" content=\"Entain adds another acquisition in announcing $266 million deal for Angstrom Sports.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-17T20:03:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-17T20:07:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/Entain-CEO-Jette-Nygaard-Andersen.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/\",\"url\":\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/\",\"name\":\"Entain Shelling Out $266 Million In Cash For Angstrom Sports\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/Entain-CEO-Jette-Nygaard-Andersen.jpg\",\"datePublished\":\"2023-07-17T20:03:17+00:00\",\"dateModified\":\"2023-07-17T20:07:38+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Entain adds another acquisition in announcing $266 million deal for Angstrom Sports.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/Entain-CEO-Jette-Nygaard-Andersen.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/Entain-CEO-Jette-Nygaard-Andersen.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Entain CEO Jette Nygaard-Andersen. She told an audience at G2E today that the BetMGM joint venture won't last forever. (Image: The Australian)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Entain Extends Buying Binge with $266M Purchase of Angstrom Sports\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Entain Shelling Out $266 Million In Cash For Angstrom Sports","description":"Entain adds another acquisition in announcing $266 million deal for Angstrom Sports.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/","og_locale":"en_US","og_type":"article","og_title":"Entain Shelling Out $266 Million In Cash For Angstrom Sports","og_description":"Entain adds another acquisition in announcing $266 million deal for Angstrom Sports.","og_url":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2023-07-17T20:03:17+00:00","article_modified_time":"2023-07-17T20:07:38+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/Entain-CEO-Jette-Nygaard-Andersen.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/","url":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/","name":"Entain Shelling Out $266 Million In Cash For Angstrom Sports","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/Entain-CEO-Jette-Nygaard-Andersen.jpg","datePublished":"2023-07-17T20:03:17+00:00","dateModified":"2023-07-17T20:07:38+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Entain adds another acquisition in announcing $266 million deal for Angstrom Sports.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/Entain-CEO-Jette-Nygaard-Andersen.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/10\/Entain-CEO-Jette-Nygaard-Andersen.jpg","width":1280,"height":720,"caption":"Entain CEO Jette Nygaard-Andersen. She told an audience at G2E today that the BetMGM joint venture won't last forever. (Image: The Australian)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/entain-shelling-out-266-million-in-cash-for-angstrom-sports\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Entain Extends Buying Binge with $266M Purchase of Angstrom Sports"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/281407"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=281407"}],"version-history":[{"count":4,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/281407\/revisions"}],"predecessor-version":[{"id":281414,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/281407\/revisions\/281414"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/238320"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=281407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=281407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=281407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}