Entain, the owner of Ladbrokes, has announced its plans to acquire Angstrom Sports, a U.S.-based company specializing in sports modeling, forecasting, and data analytics.
The deal involves a total consideration of £81 million and an additional £122 million in contingent payments over the course of three years.
The acquisition is part of Entain’s strategic efforts to expand its presence and operations in the United States, as it aims to strengthen its footprint in the country’s sports and betting market.
Entain’s acquisition of Angstrom Sports will bring advanced forecasting, pricing, and risk management capabilities to BetMGM, their joint venture with MGM Resorts.
This strategic move is expected to create substantial opportunities, especially in the rapidly growing parlay and in-play betting markets in the United States.
Over the years, Entain has been expanding its betting portfolio, adding various betting groups in regions like Canada, the Netherlands, and other parts of Europe to strengthen its position in the global betting industry.
The acquisition of Angstrom is expected to be completed in the third quarter of 2023.
