Entain has bought Angstrom Sports for £81m, with further payments of £122m expected to be paid for the company over the next three years.
The owners of Ladbrokes managed to secure a deal for US data analytics company Angstrom Sports, which expands the sports betting industry in the country even more.
A deal worth £203m has been struck between the companies, with the gambling giant describing the acquisition as ‘an unrivalled US sports betting experience’ that plans to deliver ‘margin enhancement over the long term’.
Entain chief executive Jette Nygaard-Andersen released a statement saying: “We are delighted that Angstrom will be joining Entain, enabling us to accelerate the development of the Entain Platform.
“Their next generation forecasting, pricing and risk management capabilities will unlock significant opportunities across BetMGM’s US sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering.
“This acquisition will provide our customers with an unrivalled sports betting experience underpinned by enhanced in-house data analytics, a global platform and market leading brand.”
Entain also formed BetMGM, which is the exclusive sports betting division of MGM, both online and in MGM casinos nationwide.
Sion Colley, Angstrom Sports CEO, said: “We’re excited to join forces with Entain to continue delivering unique and exciting betting opportunities across US sports.
“Entain shares Angstrom’s passion for innovation and our partnership will enable us to realise our ambitions in bringing best-in-class products and experiences to sports betting customers through Entain’s market-leading global brands.”
Entain’s complete acquisition is expected to be fully completed by the end of the third quarter this year, in a deal amounting to around £203m.