Entain has agreed to sell a 20% stake in its Central and Eastern European operations to joint venture partner EMMA Capital. The transaction marks the initial phase of a broader strategy to fully exit the Polish and Croatian markets.
The agreement involves an upfront payment of €395 million, with an additional sum scheduled for early 2027 based on FY26 performance. This structure results in a total cash consideration of approximately €425 million, valuing the enterprise at €2.1 billion. Entain intends to use the net proceeds to lower its outstanding debt.
The sale is expected to close in Q4 2026, pending regulatory approvals.
Upon completion, Entain’s ownership will decrease from 67.5% to 47.5%, while EMMA Capital’s share will rise to 47.5%. The Juroszek family will retain the remaining 10% stake. CEO Stella David stated that the divestment aligns with the group’s focus on maximizing shareholder value and simplifying its corporate structure.
Performance and Strategic Rationale
Entain CEE reported a 7% year-on-year rise in net gaming revenue to £522 million for FY2025, alongside a £184 million EBITDA. However, Q1 2026 figures showed a 6% decline in revenue compared to the previous year. The company stated that the decision to exit supports balance sheet flexibility, aiming to reduce leverage below 3x and return excess capital to shareholders.
The CEE division was established following the €690 million acquisition of a 75% stake in SuperSport. The following year, Entain purchased STS for £750 million. Both businesses maintain leading positions in their respective national markets.