Entain CEE
Entain Central Eastern Europe (CEE)
August 2022
Entain CEE formed - Entain acquired 75% of SuperSport, #1 operator in Croatia, from EMMA Capital with them retaining 25% holding
August 2023
Entain CEE expansion into Poland - Entain CEE acquired STS #1 operator in Poland. Juroszek Foundations (previously owned 70% STS) acquired 10% stake in enlarged Entain CEE for £160m
£m | 2024 | H1 2025 |
Net Gaming Revenue (NGR) | 488 | 254 |
NGR growth YoY (constant currency) | 12% | 7% |
Underlying EBITDA | 171 | 95 |
- Entain plc 100% consolidates Entain CEE
- Entain segmental reporting includes Entain CEE
- Minority dividend payment for 32.5% of Entain CEE’s net income
- Entain CEE entity was structured to include a pathway for Entain plc to own 100%
- Minority shareholders each have a put option exercisable from November 2025
- Entain has a call option for the minority holdings, exercisable from August 2027
- Both options are open ended
- If either option is exercised, the value of Entain CEE/the minority would be subject to negotiation, including a third-party valuation process
- As at 30 June 2025, a £555.8m liability held on Entain’s balance sheet related to Entain CEE put option (implied Entain CEE total valuation of £1.7bn)
- August 2025 - Entain secured a 2yr £500m bridge financing facility solely for the purpose of acquiring some or all of the Entain CEE minority investment should the need arise