Entain reportedly mulls overseas asset sale

Finance News

Entain has hired advisers to oversee the possible sale of several of its overseas brands, according to the Financial Times.

Moelis is advising Entain’s board and the group’s recently formed capital allocation committee, and any disposals will be of brands that are not integrated into the company’s technology platform, which makes them easier to sell, the people said. Among those that could be sold are Netherlands-based BetCity, which Entain bought for £398mn last year.

The company has seen its shares slump by more than 40% over the last year amid a deluge of regulatory problems. It is currently being run by interim chief executive Stella David, having parted company with Jette Nygaard-Andersen late last year.