Entain, the global sports betting and gaming group, announces the conclusion of a strategic review by the Board’s Capital Allocation Committee of Entain’s portfolio of markets, brands and verticals, which commenced in January 2024.

With the objective of maximising shareholder value and reflecting the operational progress of the business, the conclusions of this review are:

Entain has the appropriate portfolio of diversified strategic assets, brands, capabilities and geographic footprint to ensure it is well positioned to deliver high quality long term growth. There remains significant upside by focusing on delivery of the Group’s strategy of returning to organic revenue growth, expanding margins and winning in the US.

Entain’s balance sheet and leverage position is robust and has been strengthened by the recent extension of Entain’s RCF and term loan repricing and add-ons. Crystalbet, the leading gaming brand in Georgia, is non-core to the Group. As such, strategic alternatives for this business will be considered, including interest already received from potential acquirers.

Barry Gibson, Chairman of Entain, commented:“I am delighted that the Capital Allocation Committee has concluded its strategic review of our portfolio. Whilst we still have more work to do to improve our operational performance, the Board is pleased with the progress Entain is making so far in 2024 in line with our strategy. The Group has the core strengths, brands and products to be competitive across its markets and continues to be a global leader in betting and gaming.