On Monday, Ladbrokes-owner Entain (ENT.L) agreed to acquire U.S.-based Angstrom Sports for a potential consideration of up to 203 million pounds ($266 million) as it looks to widen its footprint in the country. The acquisition of the sports modeling, forecasting, and data analytics company will comprise a total consideration of 81 million pounds plus contingent payments of up to 122 million pounds over three years, the company said in a statement.
Angstrom simulation-based predictive modeling creates highly sophisticated pricing and forecasting capabilities enabling zero latency in-play betting products and markets. The company said the acquisition secures Entain as the only global operator to offer a complete in-house suite of end-to-end analysis, risk, and pricing capabilities for U.S. sports betting products.
CEO Jette Nygaard-Andersen added that the deal will help accelerate the development of the Entain platform, which already offers customers an extensive range of sports and iGaming games.” Adding Angstrom’s next-generation forecasting, pricing, and risk management capabilities will deliver significant opportunities for our U.S. customers across a broad spectrum of betting products, including optimized parlay and in-play products,” she added.
Founded in 2006, Entain is one of the worlds leading sports betting and gaming groups. The FTSE 100 company owns a comprehensive portfolio of established brands, including sports betting and casino products operated through its Ladbrokes, Coral, BetCity, bwin, Eurobet, and Sportingbet retail operations, as well as online. It also provides services to third parties on a B2B basis.
The company’s portfolio of consumer brands includes sports betting and gaming offerings, as well as online casinos and poker. Its sports betting and gaming brands include Ladbrokes, Coral, BetCity, Neds, bwin, Foxy Bingo, Gala, Gioco Digitale, Ninja Casino, and Partypoker. In gaming, it has developed a wide range of exclusive games and products through its in-house studios and operates the most extensive online sportsbook in the UK, BetMGM.
