- Legal States
Silvia Pavlof January 18, 2023 3 min read
Entain Speeds Up Withdrawal from Unregulated Markets
Entain announced it will be accelerating its plans to exit a number of unregulated markets where it no longer expects domestic regulation to happen
This move is in line with the company’s commitment to sustainability, growth, and innovation, which it made back in 2020.
100% of Entain’s Revenue to Come from Regulated Markets by the End of This Year
In November 2020, Entain announced a clear strategy with the goal of ensuring that 100% of the group’s revenue would come from markets that are nationally regulated by the end of 2023. To achieve this goal, the company will be exiting its remaining markets where there is no clear path to market liberalization through domestic regulation.
However, the company announced that it will retain a presence in select unregulated markets where it anticipates national regulation will be established in the near future.
The net gaming revenue and EBITDA impact from these exits will be relatively small and will not affect the company’s current expectations. This move is a significant step towards the company’s goal of operating in a sustainable and responsible manner while continuing to grow and innovate in the industry.
Entain Is the Only Operator Doing Business Exclusively in Regulated Markets
Entain Chairman Barry Gibson explained the move as a natural extension of Entain’s strategy: “As part of the profound and far-reaching transformation program that Entain has undergone in the last few years, we took the decision in 2020 to only operate in nationally regulated markets. Gibson added:
Today’s announcement is therefore a continuation of that strategy, and should be taken as a clear demonstration of Entain’s commitment to the highest standards of corporate responsibility, governance, sustainability, and player safety.“Entain Chairman Barry Gibson
Gibson further explained that the plan is to abandon any jurisdiction that falls short of meeting adequate regulatory standards or progress. The company has taken a firm stance to implement this policy. The firm takes pride in being the only worldwide operator to adopt this strategy of exclusively functioning in territories with national regulations.
Currently, Entain holds licenses in more than 30 countries and will continue to operate in only a small number of markets where it expects changes in regulation will enable it to obtain domestic licenses in the foreseeable future. Except for these markets, 100% of the group’s revenue will now come from domestically regulated markets where it holds a license.
The news follows Entain’s recent acquisition of BetCity from Sports Entertainment Media. The deal, which was worth $482 million, allowed Entain to access the regulated market in the Netherlands. Amsterdam-based BetClic, the well-known operator of the thriving online casino and sports betting platform, was awarded one of the initial 10 licenses in the Netherlands.
Silvia has dabbled in all sorts of writing – from content writing for social media to movie scripts. She has a Bachelor's in Screenwriting and experience in marketing and producing documentary films. With her background as a customer support agent within the gambling industry, she brings valuable insight to the Gambling News writers’ team.
Business January 18, 2023