Financial Times reports that the leading British gaming corporation Entain has commenced a process to sell some of its overseas operations. The company has reportedly engaged a team of advisors to oversee the possible sale of the brands BetCity in the Netherlands, Ladbrokes in Australia, Enlabs in Sweden and CrystalBet in Georgia.
Regulatory Changes Drive Sale Considerations:
Overseas Operations Under Review:
As Financial Times reports, Entain has hired Moelis, the Wall Street advisory company, to help the company’s board and experts to determine the way to handle the current circumstances. Financial Times also reports that the review process includes the Entain’s committee for capital allocation, formed to dedicate to considerations of any potential disposal of subsidized operation. Such disposals, Financial Times reports, will currently include only brands that are not integrated into the Entain’s technology platform. As reported, such an exclusion from the platform will make these brands easier to be sold.
40-Million-Pound Revenue Loss:
Therefore the company is now weighing whether the above operators can generate enough revenues to set off the loss caused by the regulatory changes in the Entain’s two major jurisdictions. If the review proves different, the 40-million-pound revenue loss is likely to be compensated through the sales process.
