Sports betting operator Entain PLC has made a takeover offer for Baltic gaming company Olympic Entertainment Group, according to a Bloomberg report citing anonymous sources.
According to the report, Entain made a cash offer of more than $1 billion for the Estonian company, which runs casinos and online gambling sites in the region.
Olympic is one of the few remaining assets from the portfolio of London-based Novalpina Capital, which owns NSO Group, developer of the controversial Pegasus spyware tool that’s come under fire for its use by governments to spy on journalists and activists. A sale could help backers of the former Novalpina fund recoup all of their investment with a profit.
Deliberations are ongoing, and there’s no certainty they will result in a transaction, the sources told Bloomberg.
