Sports betting and gaming group Entain announced on Wednesday that it has accelerated its plans to exit a number of unregulated markets where it no longer sees “a path to domestic regulation.”
On November 2020, Entain announced a strategy for sustainability, growth, and innovation. 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.
According to a press release, and in line with that plan, the company will accelerate this process by exiting its few remaining markets where “there is no clear path to market liberalization via domestic regulation.”
Entain is now licensed in more than 30 countries and will remain in only a small number of markets where it expects changes in regulation will enable it to obtain domestic licenses “in due course.”
With the exception of these markets, 100% of the revenue will be from domestically regulated markets where it is licensed. The company, which owns Ladbrokes and Coral betting shops as well as bwin and partypoker online brands, said the impact of the exit on its net gaming revenue and core profit will be “relatively small.”
Entain's stand at iGB
Barry Gibson, Entain’s Chair, commented: “As part of the profound and far-reaching transformation program that Entain has undergone in the last few years, we took the decision in 2020 to only operate in nationally regulated markets. 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.”
“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. 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,” he concluded.
Original article: https://www.yogonet.com/international/news/2023/01/18/65761-entain-to-exit-all-unregulated-markets-where-domestic-regulation-seems-unviable
