Entain Secures Unanimous Approval for STS Acquisition

Entain Plc has successfully obtained unanimous shareholder approval for its acquisition of STS Holdings, a prominent online betting group listed on the Warsaw Stock Exchange.

STS acquisition approved

The acquisition offer, valued at £750 million, has been accepted by a significant majority of STS shareholders, accounting for approximately 99.3% of the total issued share capital – a total of 155,591,656 shares.

The transaction is set to be finalized on August 24, 2023. In the coming days, Entain will move forward to acquire any remaining shares not tendered in the offer, ultimately leading to the removal of STS Holdings from the listings on the Warsaw Stock Exchange.

Entain’s initial announcement of its intention to acquire STS Holdings was made on June 13. The funding for this acquisition was partially secured from EMMA Capital, a CEE private equity fund. With a commitment of £150 million in capital, the offer presented a premium of £750 million for the acquisition of STS Holdings.

Solidifying Entain position in CEE region

In anticipation of this approval, the Juroszek family, who represent a significant share of STS’s capital (70%), had already accepted Entain’s offer.

The future operation of STS properties will fall under the umbrella of a joint-venture subsidiary named Entain CEE, with EMMA Capital as its principal investor. This acquisition solidifies Entain’s prominent role in the Central and Eastern European sports betting market, positioning the company as the leading sports betting platform in the region.