Ladbrokes-owner Entain said on Tuesday it will buy Poland-based sports betting operator STS Holdings for 750 million pounds ($946 million) to further its footprint in Europe.
Entain, which owns Coral betting shops as well as the bwin and partypoker online brands, said its offer is priced at 24.8 Polish zlotys ($5.97) for each STS share held, and that it will pay about 450 million pounds in net cash for the acquisition.
Entain’s most popular brands, Ladbrokes, Coral and bwin, were bought through acquisitions and the bookmaker has been rapidly expanding in Europe, with its latest deal being the buyout of 365scores in April.
STS, founded in 1997, is the one of the largest bookmakers in Poland and has licenses to operate in the UK and Estonia.
