19th Nov 2021 22:07
(Alliance News) - FTSE 100-listed Ladbrokes owner Entain PLC is looking to buy Baltic gambling company Olympic Entertainment Group, Bloomberg News reported Friday.
The gambling firm, according to Bloomberg, has made a USD1 billion offer in recent weeks for the Estonian company, which runs casinos and online gambling sites in the region.
Olympic Group is one of the few remaining assets of London-based Novalpina Capital, which owns NSO Group, developer of the controversial Pegasus spyware tool.
Olympic has operations in countries including Estonia, Latvia, Lithuania, Slovakia and Italy.
https://www.bloomberg.com/news/articles/2021-11-19/entain-said-to-bid-1-billion-for-baltic-gambling-firm-olympic?cmpid=BBBXT111921_DEALS&utm_medium=email&utm_source=newsletter&utm_term=211119&utm_campaign=deals
As far as M&A goes, Entain has had a busy past few months. US gambling firm DraftKings Inc decided against making a firm offer to acquire the FTSE 100 betting company in late October. This followed casino operator MGM Resorts International in January opted not to make a firm offer for Entain, following a takeover tilt.
After fighting off takeover interest from its US partner, Entain has eyed making acquisitions of its own.
It made an offer to buy Swedish bookmaker Enlabs AB and has also eyed acquiring the wagering business of Australian firm Tabcorp Holdings Ltd.
By Paul McGowan; [email protected]
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