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Entain agree deal to acquire esports company Unikrn for £50m

Entain agree deal to acquire esports company Unikrn for £50m

16/08/2021; 5:11 AM Steven D. Thompson By : Steven D. Thompson

In what could be described as big news, popular esports betting company, Unikrn, has been acquired by Entain, a globally acclaimed gaming, entertainment and sports betting company.

In a bid to strengthen their workforce, Entain are also making plans to acquire Unikrn's products and team technology platform.

More recently, Entain made a bigger move by appointing Justin Darello (former VP of Content and Esports for Twitch) as the new Head of Sports. Given his influential positions held in the past in the Esports and gaming industry, there is no better fit for that role and much is equally expected from him in that department.

Just during the company's Investors Day, Entain made a projection that by 2025, the exports wagering and casino-related markets could experience an incline of $20 billion in addressable markets. Staking their claim ahead of the future, Entain are ready to move big into the esports market and their latest acquisition is indeed a big statement to show their intent.

An official statement released by Jette Nygard-Andersen (Entain's CEO), talked about how the company's technological alliances and strong workforce have contributed to the glaring growth they've recorded in the existing markets, U.S included. Also, he stressed how that enables them to explore emerging markets that are related to the company's core goals.

In his statement, he also addressed how the company is tapping into the skill-based and wagering markets by building the first scalable platform. With the influence and experience of Justin Derallo in that industry, their growth in this area is assured.

In a bid to capitalize on the sports betting and gaming sector in the U.S, Entain entered into a joint venture with MGM Resorts, through BetMGM. The alliance between both companies is set in stone. Entain provides the technical know-how to empower BetMGM and its products. It would suffice to more than in 2017, Unikrn partnered with MGM as a move to bring live esports competitions to the MGM Grand Hotel & Casino in Las Vegas.

The company believes in its technological armory, experience to usher in the industry's first platform to key into the growing market.

According to Esports Insider, esports betting is worth around $14 billion and esports is a $1billion industry. This explains why industry giants in the betting and casino industry are clashing to key into this market.

Over recent years, the esports industry has witnessed tremendous growth and it is no surprise to see leading betting platforms take a foray into this sector. Entain are well-known for their reputation to always put in a strong foot and we can expect to see some more action from them in due time.

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