Entain PLC, a leading global sports betting, gaming and interactive entertainment operator, announced that it has acquired Avid Gaming for CAD300 million (US$235.9 million) from Middlebrook Investments Ltd. The move is seen as an effort to further penetrate the emerging Canadian sports betting market.
Avid Gaming owns Sports Interaction, Canada’s leading online sports betting brand. It is headquartered in Jersey (Channel Islands), with offices in the Mohawk Territory of Kahnawake and Ireland.
Avid Gaming exclusively licenses the Sports Interaction trademark and provides proprietary online betting and gaming products and services to the Mohawk Council of Kahnawake (MCK) and the Mohawk Online socioeconomic initiative. Mohawk Online, which is wholly owned by the MCK, operates Sports Interaction in Canada.
Canada is a highly attractive and fast-growing sports betting and gaming market. Together with Entain’s application for an Ontario license, this acquisition provides an opportunity to drive further growth, in line with the group’s growth and sustainability strategy.
Sports Interaction’s sports-led offering is highly complementary to Entain’s existing Canadian business, comprising the Party and bwin brands. The combination will bring Entain’s global scale, expertise and platform together with Sports Interaction’s local expertise, capabilities and partnerships. As a result the combined business will provide customers with a broader offering of engaging products and services for the Canadian market.
Will Golby, Avid Gaming’s CEO, along with other members of the leadership team, will transition to Entain.
“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,” said Jette Nygaard-Andersen, CEO of Entain PLC.
“It is highly complementary to our existing operations in Canada, and the combination of its local expertise and Entain’s powerful platform will provide customers with an unrivalled range of exciting and engaging products in this fast-growing market. We look forward to welcoming Will Golby and his team to Entain. Investing in the communities where we operate is a key pillar of Entain’s sustainability strategy. We are therefore delighted to be supporting the Mohawk Online socio-economic initiative.”
Will Golby, CEO of Avid Gaming, added, “We are delighted to be joining forces with Entain, which is an exceptional company combining world-class brands, strong leadership and a winning strategy. It has a unique approach to local markets, and no other company of its scale consistently delivers so many well-executed, localized approaches to the same level of customization and detail. Entain’s commitment to sustainability, responsible gaming and community investment aligns exactly with our own business philosophy, and we look forward to a bright future together.”
Kahsennenhawe Sky-Deer, grand chief of Mohawk Council of Kahnawake, commented, “Entain is a world-class operator with a genuine desire to positively contribute to the communities in which it operates. Kahnawake is well known in the gaming industry, not only for our internationally recognized jurisdiction through the Kahnawake Gaming Commission, but also for our socio-economic initiative, Mohawk Online.
“This new partnership between Entain and the Mohawks of Kahnawake is mutually beneficial, and brings with it prime opportunity for bolstering our self-sufficiency through the continuing success of Sports Interaction.”