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Entain moving out of unregulated sports betting markets

Entain fined by UK gambling authorities

International sports betting company Entain has announced that, starting this year, it will be operating strictly in regulated markets.

The move was first revealed on November 12, 2020, when the operator told the general public that by the end of 2023 it would no longer have businesses in regions that have not legalized online gambling.

“As part of that strategy, the Group made a commitment that, by the end of 2023, 100% of the Group’s revenue would come from markets that are nationally regulated,” Entain said in a recent statement.

“From today, the Group will accelerate this process by exiting its few remaining markets where there is no clear path to market liberalisation via domestic regulation.”

Entain, which has operational licenses of various kinds in over 30 countries, has said it will remain in several markets that are on their way to regulating gambling. The company has not stated which specific markets it will be exiting and which it will be remaining in.

READ: Entain granted iGaming and online poker licenses in Germany

Entain further disclosed that this closure of its business in certain areas will barely create a dent in the company’s net gaming revenue and EBITDA. A good percentage of the firm’s operations are in regulated markets.

The Entain chair, Barry Gibson, said this movement is primarily to promote player safety and maintain high standards within the organization.

“As part of the profound and far-reaching transformation programme that Entain has undergone in the last few years, we took the decision in 2020 to only operate in nationally regulated markets,” Gibson said.

“Today’s announcement is therefore a continuation of that strategy, and should be taken as a clear demonstration of Entain’s commitment to the highest standards of corporate responsibility, governance, sustainability, and player safety.”

Gibson added that Entain was proud to stand out by being the only company to delve into this approach in the industry.

“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,” he said.

“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.”

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