Ladbrokes owner gambles on media expansion, buying 365scores for £128m
Entain has bought 365scores in a deal worth up to $160m (£128m) as the betting giant hopes to expand its global reach.
The Ladbrokes owner will pay $150m plus contingent payments of up to $10m for the Israeli sports media company.
365scores has 15m active users and a “fast growing” audience. It provides sports information, editorial content, and sports-focused free-to-play games.
It is ranked amongst the top five scores apps worldwide.
The takeover will give customers “a broader offering of interactive content and experiences”, Entain said.
“The acquisition unlocks further growth opportunities and supports our global strategic ambitions,” it continued.
Earlier this year shares in Entain plummeted after potential suitor MGM Resorts ruled out making a second bid for the company.
It was hoped MGM would swoop when the UK published its long-awaited gambling review.
Entain and casino operator MGM currently run a US joint venture BetMGM, which has seen bumper growth and is expected to start delivering profits later this year.