Entain begins phased exit from central and Eastern Europe
A 20 per cent interest in Entain Holdings (CEE) will be sold to its to its joint venture partner EMMA Capital
Entain has entered into an agreement to sell a 20 per cent interest in Entain Holdings (CEE) to its joint venture partner EMMA Capital (EMMA) for €425m.
Entain CEE consists of the two operating businesses, STS in Poland and SuperSport in Croatia, which delivered FY25 revenues of £522m, up seven per cent year-on-year) and EBITDA of £184m.
The company said the move was aligned with the group’s priority to maximise shareholder value, with the board opting to pursue an ‘exit from Entain CEE to unlock the value created within Entain’s attractive portfolio.’
Stella David, CEO of Entain, commented: “Our initial divestment is a decisive first step towards Entain fully exiting Entain CEE and reflects our ongoing focus on maximising value for shareholders. This enables us to unlock the value created by our Croatian and Polish businesses’ and demonstrates our robust capital allocation discipline.
“Driven by structural growth across our globally scaled portfolio and our improving operational execution, I am confident in our ability to deliver strong future cash-generation. Entain remains well positioned to be a long-term industry winner.”
Upon completion of the Transaction, Entain’s shareholding in Entain CEE will decrease from 67.5 per cent to 47.5 per cent, with EMMA increasing its shareholding from 22.5 per cent to 42.5 per cent whilst the Juroszek family foundations maintain their existing 10 per cent shareholding.
Concurrently, EMMA, MJ Foundation Fundacja Rodzinna and Fundacja Zbigniewa Juroszka Fundacja Rodzinna will enter into a separate voting agreement, under which it will grant the Juroszek family a put option over their 10 per cent holding, exercisable in three tranches during the three years following completion. Under this voting agreement, the Juroszek family will assign to EMMA the full voting rights attached to their shares, subject to customary exceptions and effective upon completion of the Transaction. As such, from completion, EMMA will have majority control of Entain CEE joint venture.
