Entain buys sports media company 365scores

Coral and Ladbrokes owner Entain announced on Wednesday that it has extended its influence in sports media by purchasing Israeli sports media group 365scores.

The transaction, which is reportedly worth $150 million, marks Entain’s 10th acquisition in 18 months and the 32nd brand in the company’s global portfolio. The deal also includes contingent payments that add up to $10 million based on performance.

Entain’s shares rose 0.5% higher on Wednesday afternoon following the news. The shares have increased by nearly 18% in the past three years.

Entain’s purchase of 365scores will reportedly improve its interactive content and user experience, with it set to boost both their sports data services.

Entain added that 365scores would supply the gaming company with “deep expertise in data-driven sports media content.” This would be integral to the “global scale and market-leading platform capabilities” of Entain.

The company also asserted that, in addition to supporting their joint global strategic ambitions, the acquisition also provides significant growth opportunities for both parties.

“The combination of 365scores’ deep expertise in data-driven sports media content with Entain’s global scale and market-leading platform capabilities will provide customers with a broader offering of interactive content and experiences,” Entain said.

“The acquisition unlocks further growth opportunities and supports our global strategic ambitions.”

365scores was founded by former members of the Israeli Defence Force (IDF) in 2012. The company holds a place among the top five score apps in the world, with a massive active user base of over 15 million.

On its website, the Tel Aviv-headquartered 365scores revealed that it has been of service to more than 49 million sports fans since 2012 and covers no less than 10 different sports, including basketball, football, American football, and rugby.

365scores also broadcasts over 2,000 competitions worldwide, offering real-time stats, in-play insights, breaking news, fixtures, odds, lineups, social buzz and live tables.

Interactive Investor’s head of investment, Victoria Scholar, released a statement concerning the acquisition. She pointed out that while inorganic growth was widespread in the sports betting and gaming industries, Entain’s move has pushed the company into sports media content.

“The sports betting and gaming industry is no stranger to inorganic growth. But this bolt-on is slightly different, pushing Entain into sports media content, underscoring the importance of data when it comes to targeting new audiences,” Scholar said.

“Shares in Entain have struggled over the last year, down by 25%, in stark contrast to its rival Flutter, which is one of the top performers on the FTSE 100, up around 60%.”

Besides its business with 365scores, Entain purchased Sportsflare from Tidal Holdings earlier this year. The over $13 million deal was conducted in March and helped enhance Entain’s esports presence.

Entain has acquired multiple betting groups in recent years, signing five in 2022 following its move into the Netherlands and Canada. It also purchased Croatia’s SuperSport Group. Entain’s most known brands, like Coral, Bwin, and Ladbrokes, were acquired through acquisitions.

In March, Rob Wood, the gambling group’s Chief Financial Officer, stated that Entain’s growth strategy was tied to mergers and acquisitions.