Entain Sells 20% of Central & Eastern Europe Arm for €425m

Entain has taken the first step in a phased exit from its Central and Eastern Europe business, agreeing to sell a 20% stake in Entain CEE to joint venture partner EMMA Capital. 

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The deal, announced on June 25, 2026, is valued at around €425 million, with €395 million payable at completion and an additional payment scheduled for early 2027 based on performance. 

The transaction places Entain CEE’s enterprise value at €2.1 billion and is expected to close in the fourth quarter of 2026, subject to regulatory approval. 

Chief Executive Stella David described the move as a clear step toward a full exit, saying: “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.”

Juroszek family to retain 10% holding

Entain CEE includes STS in Poland and SuperSport in Croatia, both leaders in their markets. In 2025, the businesses delivered £522 million in net gaming revenue and £184 million in EBITDA, each growing 7% year‑on‑year. 

Since Entain formed the unit in 2022, online revenue and earnings have risen at double‑digit rates, supported by the migration of STS sportsbook to SuperSport’s enhanced platform. The company highlighted that EMMA, as a regional specialist, is well placed to continue driving growth. 

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Following completion, Entain’s shareholding in Entain CEE will fall from 67.5% to 47.5%, while EMMA’s stake will rise to 42.5%. 

The Juroszek family will retain its 10% holding but transfer voting rights to EMMA, giving EMMA majority control of the joint venture. Entain will remain a minority shareholder until a full exit is achieved, continuing to recognize its share of profits and dividends. 

The company has updated its guidance to reflect the de‑consolidation of Entain CEE. It now expects online net gaming revenue growth of 5–7% in 2026 and an EBITDA margin of 21–22%, slightly lower than earlier forecasts.

Entain reiterated its confidence in generating around £500 million of annual adjusted cashflow by 2028, highlighting its long‑term focus on disciplined capital allocation and shareholder returns.

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