Entain acquire esports betting provider Sportsflare
Tiidal Gaming Group and its wholly owned subsidiary, Tiidal Gaming Holdings Inc., have entered into a share sale and purchase agreement with Entain Holdings (U.K.) pursuant to which Tiidal Holdings will sell all of the shares of the company’s operating subsidiary, Tiidal Gaming N.Z. to Entain.
Sportsflare is one of the leaders in developing bet types for the esports betting space. Sportsflare has created market leading innovations, such as Flash Markets, that allows users to bet in-game on live esports events.
“I am incredibly proud of what the Sportsflare team has done over the last year. Given the capital markets environment, we believed it was best to find a great home for Sportflare in order to maximize value for Tiidal shareholders,” said Thomas Hearne, Chief Executive Officer of Tiidal. “Sportsflare will be a great fit with Entain’s strong presence in the industry and our board of directors is confident that Sportsflare joining Entain is the best long-term solution for its employees and partners.”