Entain Purchases Sports Interaction Owner Avid Gaming
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Entain announced Monday that it had acquired Deis Ltd, also known as Avid Gaming, for $300 million from Middlebrook Investments Limited.
Sports Interaction is Part of The Deal
Included in the deal is Sports Interaction, a leading online sportsbook in Canada, as it is owned by Avid Gaming.
“We are delighted to be joining forces with Entain, which is an exceptional company combining world-class brands, strong leadership and a winning strategy,” Will Golby, CEO of Avid Gaming, said in a news release.
“It has a unique approach to local markets, and no other company of its scale consistently delivers so many well-executed, localised approaches to the same level of customisation and detail. Entain’s commitment to sustainability, responsible gaming and community investment aligns exactly with our own business philosophy, and we look forward to a bright future together.”
Headquartered in Jersey (Channel Islands) and with offices in the Territory of Kahnawàke and Ireland, Avid Gaming licences the Sports Interaction trademark and provides “proprietary online betting and gaming products and services” to the Mohawk Council of Kahnawàke (“MCK”) and the Mohawk Online socioeconomic initiative — Mohawk Online operates Sports Interaction in Canada.
Entain Plans to Operate Sportsbook in Ontario
This deal comes just as Entain submitted an application to operate in Ontario and this acquisition should provide a vehicle for even more growth in the Canadian market. With Sports Interaction under the Entain umbrella, it joins the Party and bwin brands.
Sports Interaction has seen growth in Canada in a short time, with gross revenues increasing 40% year over year, resulting in $76 million in 2021.
Also, as of September 2021, it had gross assets of “approximately” $41 million.
“Sports Interaction is the leading Canadian sports betting and gaming brand and is aligned perfectly with our own ambitions of great customer service and ambitious growth, coupled with an unwavering commitment to sustainability,” Jette Nygaard-Andersen, CEO of Entain, said in the release. “It is highly complementary to our existing operations in Canada, and the combination of its local expertise and Entain’s powerful platform will provide customers with an unrivaled range of exciting and engaging products in this fast-growing market.
“We look forward to welcoming Will Golby and his team to Entain. Investing in the communities where we operate is a key pillar of Entain’s sustainability strategy. We are therefore delighted to be supporting the Mohawk Online socio-economic initiative.”
Entain Keeps Partnerships
Entain will continue to uphold the partnership between Sports Interaction and the Mohawks of Kahnawàke.
With Mohawk Online, revenues are invested back into their community which provides “essential funding for cultural and language programmes, schools, healthcare, and other public services.”
“Entain is a world-class operator with a genuine desire to positively contribute to the communities in which it operates,” Kahsennenhawe Sky-Deer, Grand Chief of Mohawk Council of Kahnawà:ke said in the release. “Kahnawà:ke is well known in the gaming industry, not only for our internationally recognized jurisdiction through the Kahnawà:ke Gaming Commission, but also for our socio-economic initiative, Mohawk Online.
“This new partnership between Entain and the Mohawks of Kahnawà:ke is mutually beneficial, and brings with it prime opportunity for bolstering our self-sufficiency through the continuing success of Sports Interaction.”
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