Canada’s online gaming scene is getting hotter by the minute.
Leading sports betting operator, Entain announced it acquired Deis Ltd, the parent company of Avid Gaming, for $300 million. Avid also owns Sports Interaction, one of Canada’s most successful online sports betting brands.
Avid’s previous owner, Middlebrook Investments Limited, specializes in private alternative investments.
Acquisition an opportunity for Entain to drive future growth
Entain, the globally-recognized gaming, sports betting, and interactive entertainment operator, set its goals high.
This latest purchase allows Entain to extend its existing Ontario footprint before the province’s expanded market launches on April 4.
“Canada is a highly attractive and fast-growing sports betting and gaming market,” said Entain in a statement. “Together with Entain’s application for an Ontario licence, this acquisition provides an excellent opportunity to drive further growth, in line with the Group’s growth and sustainability strategy.”
Although previously operating in the grey market, Entain is about to become one of the crucial players in the Ontario online gaming scene.
“Sports Interaction is the leading Canadian sports betting and gaming brand and is aligned perfectly with our own ambitions of great customer service and ambitious growth, coupled with an unwavering commitment to sustainability,” Entain’s CEO, Jette Nygaard-Andersen, emphasized in today’s statement.
“It is highly complementary to our existing operations in Canada, and the combination of its local expertise and Entain’s powerful platform will provide customers with an unrivalled range of exciting and engaging products in this fast-growing market.”
According to the release, Avid’s CEO, Will Golby, will join Entain with other senior Avid executives. Together they aim to deliver leading online gambling offerings to the market through the Bwin and Party brands.
Entain has built a reputation as one of the most attractive bookmakers in Australia and throughout Europe. The company also owns 50% of BetMGM in the US in a joint venture between Entain and MGM Resorts International.
Sports Interaction adds a feather to Entain’s cap
Headquartered in Jersey, Channel Islands, Sports Interaction has offices in the Mohawk Territory of Kahnawà:ke and Ireland.
Licensed exclusively to the Mohawk Council of Kahnawà:ke and Mohawk Online, the newly purchased operator has been active since 1997. Mohawk Online is a socio-economic initiative wholly owned by the MCK, which operates SI in Canada on Mohawk soil.
“Entain is a world-class operator with a genuine desire to positively contribute to the communities in which it operates,” said the grand chief of Mohawk Council of Kahnawà:ke Kahsennenhawe Sky-Deer.
“This new partnership between Entain and the Mohawks of Kahnawà:ke is mutually beneficial and brings with it a prime opportunity for bolstering our self-sufficiency through the continuing success of Sports Interaction,” she concluded.
Experiencing rapid growth in recent years, SI generated corporate revenues worth $76 million in fiscal 2021. It also generated EBITDA’s of $18 million. Profits before tax for the same year came in at $17.4 million.
