Entain has completed the non-pre-emptive placing of 48,294,478 new ordinary shares, the proceeds of which will be used in part to fund the company’s acquisition of Polish sportsbook operator STS Holding.
Between the shares placing and a retail offering to investors, Entain has raised close to £600m ($761.6m). The remaining net proceeds – around £150m – will go towards funding “further near-term acquisitions”.
Entain CEE announced the £750m acquisition of STS Holding yesterday (13 June). The acquisition will see Entain CEE pay PLN24.80 per STS Holdings share.
Entain CEE is the joint venture between Entain and Emma Capital. It was established in August 2022 following Entain’s acquisition of SuperSport, a deal that moved the operator’s focus towards Eastern Europe.
