Entain plc (ENT.L,GMVHF), a sports betting, gaming and interactive entertainment group, announced Wednesday that it has accelerated plans to exit a number of unregulated markets where it no longer sees a path to domestic regulation.
The company said it has made a commitment that 100% of its revenue would come from markets that are nationally regulated by the end of 2023. Entain said it will accelerate this process from today by exiting its few remaining unregulated markets.
The move is part of its strategy that was announced in November 2020 to only operate in nationally regulated markets for sustainability, growth and innovation.
Entain said it is now licensed in more than 30 countries and will remain in only a small number of markets where it expects changes in regulation will enable it to obtain domestic licenses in due course.
The net gaming revenue and EBITDA impact from these closures is relatively small and will have no effect on current expectations.
Barry Gibson, Entain's Chair, said, "We stated at the outset that we would exit any market that wasn't able to regulate at sufficient pace or to the right standards, and we have acted decisively to do so. We are proud to be leading our industry as the only global operator taking this approach of solely operating in markets where there is domestic licensing."
For comments and feedback contact: editorial@rttnews.com
Business News