Entain PLC Acceleration of Unregulated Market Exits (0295N)
18 1월 2023 - 7:00PM
UK Regulatory
TIDMENT
RNS Number : 0295N
Entain PLC
18 January 2023
For Immediate Release
10.00am 18 January 2023
Entain plc
("Entain" or the "Group")
Acceleration of unregulated market exits
Entain plc (LSE: ENT), the global sports betting, gaming and
interactive entertainment group, today announces that it has
accelerated its plans to exit a number of unregulated markets where
it no longer sees a path to domestic regulation.
On 12 November 2020, Entain announced a clear strategy for
sustainability, growth and innovation. As part of that strategy,
the Group made a commitment that, by the end of 2023, 100% of the
Group's revenue would come from markets that are nationally
regulated.
From today, the Group will accelerate this process by exiting
its few remaining markets where there is no clear path to market
liberalisation via domestic regulation. The Group is now licensed
in more than 30 countries and will remain in only a small number of
markets where it expects changes in regulation will enable it to
obtain domestic licenses in due course. With the exception of these
markets, 100% of the Group's revenue will now be from domestically
regulated markets where it is licensed. The net gaming revenue and
EBITDA impact from these closures is relatively small and will have
no effect on current expectations.
Barry Gibson, Entain's Chair, commented:
"As part of the profound and far-reaching transformation
programme that Entain has undergone in the last few years, we took
the decision in 2020 to only operate in nationally regulated
markets. 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. We stated at the
outset that we would exit any market that wasn't able to regulate
at sufficient pace or to the right standards, and we have acted
decisively to do so. We are proud to be leading our industry as the
only global operator taking this approach of solely operating in
markets where there is domestic licensing."
Enquiries:
Investor Relations - Entain plc investors@entaingroup.com
David Lloyd-Seed, Chief IR & Communications Officer david.lloyd-seed@entaingroup.com
Davina Hobbs, Head of Investor Relations davina.hobbs@entaingroup.com
Callum Sims, IR Manager callum.sims@entaingroup.com
Media - Entain plc media@entaingroup.com
Lisa Attenborough, Head of Corporate Communications lisa.attenborough@entaingroup.com
Jay Dossetter, Head of Corporate PR jay.dossetter@entaingroup.com
Jodie Hitch, PR Manager Jodie.hitch@entaingroup.com
Powerscourt Tel: +44 (0) 20 7250 1446
Rob Greening/Nick Hayns/Sam Austrums entain@powersco urt-group.com
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the
world's largest sports-betting and gaming groups, operating both
online and in the retail sector. The Group owns a comprehensive
portfolio of established brands; Sports brands include BetCity,
bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet,
Sports Interaction and SuperSport; Gaming brands include Foxy
Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and
PartyCasino. The Group owns proprietary technology across all its
core product verticals and in addition to its B2C operations
provides services to a number of third-party customers on a B2B
basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports
betting and iGaming in the US. Entain provides the technology and
capabilities which power BetMGM as well as exclusive games and
products, specially developed at its in-house gaming studios. The
Group is tax resident in the UK, operating in over 40 regulated or
regulating territories. Entain is a leader in ESG, a member of
FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set a
science-based target, committing to be carbon net zero by 2035 and
through the Entain Foundation supports a variety of initiatives,
focusing on safer gambling, grassroots sport, diversity in
technology and community projects. For more information see the
Group's website : www.entaingroup.com
LEI: 213800GNI3K45LQR8L28
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END
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January 18, 2023 05:00 ET (10:00 GMT)
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