Ladbrokes-owner Entain has begun exploring options for its joint venture in Central and Eastern Europe, including a possible sale, three people familiar with the matter said.
Entain, which operates BetMGM in the United States, has been under pressure to cut costs to offset the impact of increases in Britain’s online gambling taxes – to 40% from 21% on casino games and slots and to 25% from 15% on sports betting from April.
Its shares have fallen around 30% since November when the new taxes were announced, according to LSEG data.
One option under consideration is for the London-listed company, which has a market value of £3.5 billion ($4.63 billion), to sell its holding to Czech investment firm EMMA Capital, its joint venture partner, two of the people said.
