Date: 13.06.2023

by Bartosz Burzyński

A big deal on the Polish bookmaking market. Entain takes over STS

It’s been talked about behind the scenes for some time, and today we have confirmation – Entain will acquire STS for a total consideration of around £750 million.

Entain confirms takeover of STS

Such information was confirmed and announced today by Entain Holdings.

The offer has been priced at PLN 24.80 per share, with an equity value of STS of approximately GBP 750 million and an enterprise value of approximately GBP 690 million.

The acquisition will be performed by Entain CEE together with its partner EMMA Capital (“EMMA”). Entain and EMMA will finance the offer in proportion to their current ownership of Entain CEE (75% and 25%, respectively).

Entain will fund its share through a share issue and a separate retail offering through the PrimaryBid platform.

STS has accepted the offer

STS Chairman, Mateusz Juroszek, and his father, Zbigniew Juroszek, who collectively hold about 70% of STS’ share capital through their family foundations, have entered into a binding agreement to irrevocably accept the offer.

Upon completion of the transaction, the Juroszek Foundations will reinvest a part of their income in Entain CEE in exchange for a 10% economic share in Entain CEE.

The net cash consideration for the acquisition payable by Entain will be approximately £450 million.

Mateusz Juroszek will remain as CEO of STS

Mateusz Juroszek will remain as CEO of STS and will also join the board of Entain CEE.

To remind, Juroszek has been CEO of STS since 2012 and has played a key role in driving the company’s growth over the past decade. It comes as no surprise that Entain has decided to leave him in a key position.

– I am very excited to join the Entain CEE board and see significant growth opportunities in the Polish market for Entain-owned STS. Entain is a world-class operator and has already made significant investments in the region through the intermediary of SuperSport in Croatia. We could not have found a better partner to help us take STS into its next phase of growth and it is clear that Entain agrees with our ambitions and vision for the future. I look forward to continuing to lead and develop STS and working with the Entain CEE team – Mateusz Juroszek said.

Jette Nygaard-Anderson, CEO of Entain concluded: – We are excited about the acquisition of a leading sports betting operator in Poland, which is an extremely exciting and fast-growing market.

– STS is a unique company with a great brand, an attractive multi-channel offering and an outstanding CEO as well as management team. The transaction is perfectly in line with our strategy for Entain CEE and our broader mergers and acquisitions strategy of acquiring high quality companies with leading positions in attractive, growing, and regulated markets – Jette Nygaard-Anderson concluded.