Entain acquires Canadian sports betting operator Avid Gaming in a $300m deal brokered by Partis
Entain has acquired Canadian sports betting operator Avid Gaming from Middlebrook Investments Limited in a CAD$300m (£174.8m/USD$236.5m/€206.6m) deal.
Avid Gaming owns Canadian online sports betting brand Sports Interaction, which it leases exclusively to the Mohawk Council of Kahnawà:ke and the Mohawk Online socioeconomic initiative.
Entain aims to strengthen its presence in Canada through the deal, with Sports Interaction joining its Bwin and Party brands in the market.
“Sports Interaction is the leading Canadian sports betting and gaming brand and is aligned perfectly with our own ambitions of great customer service and ambitious growth, coupled with an unwavering commitment to sustainability,” Entain CEO Jette Nygaard-Andersen said
“We are delighted to be joining forces with Entain, which is an exceptional company combining world-class brands, strong leadership and a winning strategy,” Avid CEO Golby commented.
Kahsennenhawe Sky-Deer, the grand chief of the Mohawk Council of Kahnawà:ke, added that Entain was a “world class operator with a genuine desire to positively contribute to the communities in which it operates”.
The combination is expected to deliver approximately CAD$15m in synergies for Entain in 2023, through sharing technology, content and procurement efforts.