- Entain is nearing a deal to buy pricing and analytics company Angstrom Sports, sources say.
- The deal could be worth around $200 million, though terms have not yet been agreed upon.
- Pricing and analytics companies are attracting M&A buzz in sports betting.
European gambling operator Entain is nearing a deal to buy the London-based pricing and analytics company Angstrom Sports, three people familiar with the discussions told Insider.
The deal could be worth around $200 million, though the terms have not yet been agreed upon, the people said.
These people requested anonymity because they weren’t authorized to speak publicly about the deal. Their identities are known to Insider. Entain declined to comment and Angstrom did not respond to Insider’s inquiry.
While Angstrom is based in the UK, it focuses mainly on US sports. It enables player and in-game prop bets, which are a big focus in the US market, and offers trading and risk-management tools.
Pricing and analytics companies are among several smaller pockets of the sports-betting industry where M&A is heating up.
“There is a lot of M&A buzz around pricing and analytics companies like Angstrom and Swish Analytics who can help operators with in-play and [same-game-parlay] modeling,” research firm Eilers and Krejcik Gaming wrote in a May 4 newsletter.
Industry insiders have also been eyeing Entain’s moves, particularly in the US.
BetMGM, the UK conglomerate’s successful joint venture with MGM Resorts International, has risen to become one of the top sports-betting and online-gambling brands in the US. Entain has said it would end its financial support for BetMGM when it reaches profitability later this year, effectively winding down the partnership.
Entain has also been the target of takeover bids in recent years, including from MGM Resorts and DraftKings, though both companies have since said they’ve moved on.
All that has prompted the question: What’s next for Entain?
