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newsentain exploring sale of partypoker as they seek help from banking experts

Entain Exploring Sale Of PartyPoker As They Seek Help From Banking Experts

We independently review betting sites. Sign-ups through our links may earn us a commission at no extra cost to you, this never influences our listings’ order.

According to reports, gambling giants Entain are exploring the sale of PartyPoker with help of banking experts Oakvale Capital. 

Entain Looking To Sell PartyPoker

Reports have emerged that the gambling firm are hoping to bring in around £150m for the sale of the popular poker platform, which would boost their core offering.

They are working closely with advisers from Oakvale Capital as they approach the sale of PartyPoker. The business has been deemed non-core to Entain in recent years, after losing a mass amount of customers so whoever buys the poker site may have work to do.

However, this transaction could be a huge benefit for Entain, who have saw their shares drop by more than 40% in the last 12 months, with previous CEO Jette Nygaard-Andersen also resigning in late 2023.

Entain own a host of brands, including a share in popular bookmaker BetMGM with their parent-owner MGM Resorts a potential suitor. MGM Resorts are already in partnership with them of course, so could provide a bigger platform for the Poker site to start thriving again.

Meanwhile huge US sportsbook DraftKings may be interested in purchasing PartyPoker too. They tried to purchase the entirety of Entain back in 2021, so would likely be interested in gaining part of the company.

Entain CEO Stella David reiterated the fact that there have been plenty of challenges for the firm over the last year, but was optimistic.

“2023 presented a number of challenges for the group, both industry-wide and Entain-specific. 

“I am extremely proud of how our people around the world came together to navigate the business through an eventful and at times difficult year.

“Against that backdrop, Entain was still able to deliver overall revenue growth of 14 per cent including our US joint venture achieving revenue at the top end of expectations.”

What Other Brands Do Entain Own?

Polish brand STS Gaming group were one of the biggest recent purchases by Entain, with a £750million deal signed last summer.

They joined bwin, Coral, Ladbrokes, and SportingBet (as well as PartyPoker) as brands owned by Entain. That is just a few operators in the hands of them, with more set to come in the future.

Kyle Curran
Kyle Curran
Kyle Curran

Kyle Curran is a Journalism graduate who specialises in football (soccer), darts and horse racing but has the ability to write about a range of sports across the world and has worked with numerous sports and gambling websites. He also writes news, betting tips and gambling news as well as long form SEO content. He can regularly be found providing live football (soccer) commentary on Flashscore. Previously read news bulletins on local radio stations up and down the UK, courtesy of DerbyshireMediaCompany. He also formerly covered Premier League and EFL matches as an accredited journalist and editor for Prost International.

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