Entain Snaps Up Sports Analytics Firm Angstrom Sports for $266M

^{Pictured: Entain CEO Jette Nygaard-Andersen}

Entain, a British gambling giant, has snapped up Angstrom Sports, an analytics firm that specializes in sports data analysis and forecasting.

The deal is worth about $266M, with an upfront payment of $106M and another $160M spread over 3 years.

Sion Colley, CEO of Angstrom Sports, said he was thrilled to partner with Entain, saying, “Entain shares Angstrom’s passion for innovation and our partnership will enable us to realize our ambitions in bringing best in class products and experiences to sports betting customers through Entain’s market leading global brands”.

Angstrom Sports uses its predictive modeling techniques, including simulation-based modeling, to offer bookmakers a wider range of betting options with new events and outcomes.

With a primary focus on the U.S. market, Angstrom Sports covers a wide range of popular sports competitions and leagues, providing comprehensive insights and analysis.

“Their advanced forecasting, pricing, and risk management capabilities will unlock significant opportunities within BetMGM’s U.S. sports betting platform, especially in the rapidly growing parlay and in-play wagering markets”, CEO of Jette Nygaard-Andersen said.

The acquisition is expected to be completed in Q3 2023.

Entain’s stock saw a nearly 1% increase during early trading after the announcement of the deal.

In June, Entain also made headlines with its takeover of STS Group, Poland’s largest gambling operator, for €870M.