New Zeland.- June 09, 2023 www.zonadeazar.com [1] Entain is pleased to provide further detail on both its strategic partnership with TAB New Zealand and its recent acquisition of 365scores.
These opportunities are expected to deliver a combined EBITDA of approximately £15-20m in FY24 and approximately £50m in FY25 for the Group, implying a FY25 EBITDA multiple of 5x for both transactions.
A presentation from Dean Shannon, CEO of Entain Australia and New Zealand, includes the following key points: A 25-year partnership which commenced on 1 June 2023 and provides unrestricted access to the regulated New Zealand market. Significant opportunity to enhance the offering and improve engagement for New Zealand customers and grow the online sports betting market. New Zealand betting market of approximately NZ$600 million today, expected to grow by c.35% over five years.
Initial consideration of NZ$160 million, with a further NZ$100 million payable subject to legislative geo-blocking implementation. 50/50 share of gross profits with the partnership providing support to the New Zealand racing and sports industries, with a minimum NZ$150 million annual commitment in the first five years. TAB NZ and New Zealand customers will benefit from Entain Australia’s leading approach to player safety.
A presentation from Sameer Deen, Chief Strategy Officer and President New Ventures, includes the following key points: A leading global sports app with a highly engaged audience of sports fans. Top five sports app worldwide, and top three sports app across Latin America, with approximately 18 million monthly active customers. Consideration of $150 million.Fully aligned with Entain’s strategy of market and audience expansion through superior sports content
Opportunity to drive further growth both directly, as well as more widely for Entain’s brands through enriched data and marketing analytics.
Edited by: @Pererarte [2] www.zonadeazar.com [3]