Entain has made a $1 billion offer for NBA betting partner OEG

Entain is interested in acquiring Olympic Entertainment Group for over $1 billion dollars. Entain is no stranger to takeovers; in fact, they’ve grown to be one of the world’s largest online betting organizations through mergers and acquisitions. For example, Bwin and Ladbrokes have been bought by the company in the past.

Entain itself has been identified as a target in the past as well. While Draftkings did make a proposal, it was never officially confirmed by the company. Furthermore, Draftkings has formally abandoned the $22.6 billion Entain acquisition bid.

Olympic Entertainment group is based in Estonia and from there they operate several online casinos and other online activities. They are currently one of the largest gaming companies in eastern Europe.

Deal type

In G3 Newswire’s view, the agreement would include a cash payment and an additional profit dependent on the company’s performance.

According to the World Casino Directory, there are more than 100 land-based casinos under the Olympic brand. From Malta to Lithuania and Estonia, these locations may be found all over the world. Olybet and Maxbet, two well-known gaming websites, are also owned and operated by Olympic Entertainment Group.

Since 2020, OEG has also been a partner with the NBA. For Estonia, Latvia, Lithuania, and Slovakia, they agreed to a multi-year deal at the time. They are allowed to give NBA statistics in their online casinos and Olybet thanks to this partnership.

OEG, as you may be aware, is a leftover of Novalpina Capital, a London-based investment firm. NSO Group, a notorious surveillance technology company, was the cause of this private equity party’s demise earlier this year, due to differences among its founders and the ownership of Pegasus.