Entain makes £750m swoop for STS


Entain plc today announces that Entain Holdings (CEE) Ltd. is launching a tender offer to acquire 100% of STS Holding S.A. (“STS”) for a total consideration of approximately £750m.

STS is the leading sports-betting operator in Poland and is listed on the Warsaw Stock Exchange (WSE:STH). The Offer will be priced at PLN 24.80 per share, valuing the equity value of STS at approximately £750m, and the enterprise value at approximately £690m.

Entain CEE is Entain’s venture in Central and Eastern Europe (“CEE”) together with its partner EMMA Capital (“EMMA”). Entain and EMMA will fund the Offer in proportion to their current shareholding in Entain CEE (75% / 25% respectively).

STS’s CEO Mateusz Juroszek and his father Zbigniew Juroszek, who through their respective family foundations (“Juroszek Foundations” or “Foundations”) collectively hold approximately 70% of STS’s share capital, have entered into a binding agreement to irrevocably accept the Offer. Following completion, the Juroszek Foundations will re-invest a proportion of their proceeds into Entain CEE in return for a 10% economic stake in Entain CEE.

Jette Nygaard-Anderson, Entain’s CEO, commented: “We are delighted to be acquiring the leading sports-betting operator in Poland, which is a hugely exciting and fast-growing market. STS is an exceptional business with a great brand, a compelling omnichannel offering, and an outstanding CEO and management team. The transaction is perfectly aligned with our Entain CEE strategy and our wider M&A strategy of acquiring high quality businesses with leading positions in attractive, growing and regulated markets.

Expansion across Central and Eastern Europe remains a core component of our growth plans, and STS will be an integral part of our platform in that region.”

Mateusz Juroszek, STS’s CEO, commented: “I am very excited to be joining the board of Entain CEE, and see significant growth opportunities in the Polish market for STS under Entain’s ownership. Entain is a world class operator and has already made a significant investment in this region through SuperSport in Croatia. We could not have found a better partner to help us take STS into the next phase of its growth, and it is clear that Entain shares our ambition and vision for its future. I look forward to continuing to lead and grow STS, and to working in close collaboration with the Entain CEE team.”