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Entain, one of the world’s leading sports betting and gaming companies, has purchased Avid Gaming and all of its subsidiaries for C$300 million from Middlebrook Investments.
This acquisition is particularly important for Entain as Avid Gaming has exclusive licensing rights over the Sports Interaction brand, one of Canada’s largest and most popular online gambling providers that is wholly owned by the Mohawk Council of Kahnawake.
Canada is a very appealing and rapidly expanding sports betting and gaming industry with a large number of players, especially as more and more provinces are moving to relax gambling restrictions. This purchase, together with Entain's application for an Ontario license, represents an outstanding potential to drive additional expansion in accordance with the Group's growth and sustainability plan.
Entain's current Canadian company, which includes the Party Casino and bwin brands, would benefit greatly from the addition of Sports Interaction's sports-focused offering. The combination of Entain's worldwide scale, knowledge, and market-leading platform with Sports Interaction's local expertise, skills, and relationships will result in a more powerful and profitable company.
As a consequence of the merger, Entain will be able to offer clients a more comprehensive selection of engaging gambling services tailored to the Canadian market. Will Golby, the CEO of Avid Gaming, as well as the other members of the company's executive team, will join the Entain team.
With regards to the merger, Entain CEO Jette Nygaard-Andersen says: “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.
It is highly complementary to our existing online casinos 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. We look forward to welcoming Will Golby and his team to Entain.”
The Grand Chief of the Mohawk Council of Kahnawake, Kahsennenhawe Sky-Deer, added: “Entain is a world-class operator with a genuine desire to positively contribute to the communities in which it operates. Kahnawake is well known in the gaming industry, not only for our internationally recognized jurisdiction through the Kahnawake Gaming Commission but also for our socio-economic initiative, Mohawk Online.
This new partnership between Entain and the Mohawks of Kahnawake is mutually beneficial, and brings with it prime opportunity for bolstering our self-sufficiency through the continuing success of Sports Interaction.”
