Entain Adds Israel-Based Sports Data Company 365scores to Portfolio

Posted on: April 6, 2023, 03:33h. 

Last updated on: April 6, 2023, 01:00h.

Erik Gibbs Read More
Expertise: Asia Pacific Gaming, Gaming Business, Global Gaming.

Global gaming giant Entain has repeatedly stated that mergers and acquisitions are high on its priority list. Although it might be scaling back in certain markets, the company is holding true to its course, and just added a sports data company to its portfolio for $160 million.

365scores employees pose for a company photo
365scores employees pose for a company photo. Entain has announced that it’s buying the Israel-based company for $160 million. (Image: Omer Hacohen)

Entain has purchased 365scores, a sports data and results firm in Israel. It’s paying $150 million now, with another $10 million in the wings once the company meets certain milestones.

In a statement about the acquisition, Entain reiterated that the acquisition is another step forward in its ambitious growth plans. It comes at almost the same time the company could soon take over NZ Tab, the sports betting monopoly in New Zealand.

Bringing New Ideas to the Table

365scores, available in many countries, is a cross-media platform that provides score updates, free-to-play games, social media content, and more. It also allows its users to configure their accounts to be “personalized channels” that show only the teams they want to follow.

Entain asserts the platform has around 15 million active subscribers, making it one of the most popular scores apps available. However, 365scores’ services only cover 10 sports, including football, basketball, and soccer, meaning there’s plenty of room for growth.

The acquisition will give the company more flexibility in its consumer offerings, and greater strength to continue to pursue new regions. It also provides new ways to deliver interactive content to its customers, which will prove highly beneficial to retention efforts. That could eventually help Entain leverage its position with BetMGM, the sports betting platform it operates in the US with MGM Resorts International. BetMGM has been performing exceptionally well, gaining 71% from 2021 to 2022, and could make as much as $2 billion in revenue this year.

News of the latest acquisition didn’t initially find investors overly thrilled. Trading on the London Securities Exchange, Entain was at ￡1,259 (US$1,569) Monday, and dropped to ￡1,254 (US$1,563) Wednesday. It rebounded Thursday, though, reaching ￡1,282 (US$1,597) at press time.

Still, that’s still well below its 2023 high of ￡1,587.50 (US$1,977) from February 3. At the same time, it’s 180% higher than it was three years ago.

Gaming M&A Exists for the Brave

Entain has dedicated significant resources and money to expanding its global footprint. Last year alone, it spent more than $924 million on M&A activity across the globe.

That’s only a small portion of what’s out there, according to CEO Jette Nygaard-Andersen.

Last year, the company bought SuperSport Group in Croatia for $654 million, a move that gave it a stronger foothold in Central and Eastern Europe. And last month, it added another target when it purchased Sportsflare from Tiidal Gaming for $13.25 million.