Entain has revealed a new venture and the acquisition of a major bookmaker as part of plans to expand its presence across continental Europe.
The Ladbrokes and Sports betting Coral owner has teamed up with Czech investment firm EMMA Capital to create Entain CEE, of which London-listed Entain will own a 75 per cent stake, Sports betting in order to tap into the Central and Eastern European gambling market.
In addition, the company will pay EMMA €600million (_507million) to obtain a majority stake in Zagreb-based SuperSport, whose share of of Croatia's Sports betting and gaming market exceeds more than 50 per cent.




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Expansion: Ladbrokes owner Entain has teamed up with Czech investment firm EMMA Capital to create Entain CEE to tap into the Central and Eastern European gambling market 

It could pay the group around €90million more in cash during early 2023, dependent on SuperSport's underlying earnings in the current financial year.