Zone of Azar U.K. – Entain Considers Brazil a Strategic Country

U.K.- May 22, 2024 www.zonadeazar.com The global gaming and sports group quoted in London Entain considers Brazil to be one of the strategic countries for its interests, according to the conclusions of the review of the Capital Assignment Committee de la Junta (CapCo).

This review of Entain’s portfolio of markets, brands and verticals begins in 2024. According to its data, Brazil has yet to perform with a strong increase in revenues of two digits during the second quarter, with actions to improve acquisition and retention of customers who accelerate Entain’s performance in the country.

Among other conclusions, Entain has revealed that the company has an adequate portfolio of diversified strategic assets, brands, capabilities and geographic presence to ensure that it is well positioned to offer long-term, high-quality growth.

Furthermore, it considers that there are still important advantages in focusing on the execution of the group’s strategy to return to the organic growth of income, expand the margins and gain in the United States.

The review also considers that the balance and position of Entain’s support are solid and have been strengthened by the recent extension of the Entain’s RCF and the review of prices and complements of advance payments.

Reveal, in addition, that Crystalbet, the game brand in Georgia, is not fundamental to the Group. Therefore, strategic alternatives for this business will be considered, including the interests received from potential buyers.

As for other strategic objectives, Entain considers that the level of the regulatory playing field in the United Kingdom with the new industry voluntary code on game controls is safer for customers and the implementation of gambling limits throughout the industry. Starting from September, together with the improvement in the customer offer, it supports the company’s expectation of growing again at the end of this year.

Furthermore, the product route for BetMGM is progressing well, including the recently launched MLB and NBA sports betting markets, backed by Angstrom’s unique capabilities, particularly on Parlay products.

The committee also informed that on May 16, 2024, the Nevada Gaming Commission unanimously approved the Entainment requests and some of its subsidiaries without limitations. It supports the functioning of Entain in Eastern Europe and, especially, the prospects for the liberalization of online casinos in Poland.

In this regard, Entain’s president, Barry Gibson, stated that “I am delighted that the Capital Assignment Committee has completed its strategic review of our portfolio. While we still have more work to do to improve our operational performance, the Board is satisfied with the progress that Entain is achieving now in 2024, in line with our strategy The Group has the strengths, brands and central products to be competitive in its own markets and continues to be a global leader in games and games. The Board hopes to inform the market again about its progress in the August interim results.”

Edit @_fonta   www.zonadeazar.com