Entain, one of the largest sports wagering and gambling companies in the world, has acquired Avid gambling and all of its subsidiaries from Middlebrook Investments for $300 million.
Avid Gaming has exclusive licensing rights over the Sports Interaction brand, one of Canada’s largest and most prominent online wagering providers, which is wholly owned by the Mohawk Council of Kahnawake. This acquisition is especially significant for Entain because Avid Gaming has exclusive licensing rights over the Sports Interaction brand.
Canada’s sports betting and gaming industry is very attractive and rapidly expanding, with a large number of participants, particularly as more and more provinces move to loosen gambling restrictions. This acquisition, coupled with Entain’s application for an Ontario license, represents an exceptional opportunity to drive additional expansion consistent with the Group’s growth and sustainability strategy.
Entain’s current Canadian company, which consists of the Party Casino and bwin brands, would significantly benefit from the addition of Sports Interaction’s sports-oriented offering. The combination of Entain’s global scope, knowledge, and market-leading platform with Sports Interaction’s local expertise, skills, and relationships will result in a stronger and more profitable organization.
As a result of the merger, Entain will be able to provide clients with a broader range of engaging wagering services tailored to the Canadian market. Will Golby, the chief executive officer of Avid Gaming, and the other members of the company’s executive staff will join Entain.
Regarding the merger, Entain CEO Jette Nygaard-Andersen stated, “Sports Interaction is the leading Canadian sports betting and gaming brand and is perfectly aligned with our own ambitions of great customer service, ambitious growth, and an unwavering commitment to sustainability.”
It is highly complementary to our existing online casinos in Canada, and the combination of its local knowledge and Entain’s robust platform will provide customers with an unmatched selection of thrilling and engaging products in this rapidly expanding market. We are looking forward to Will Golby and his team joining Entain.”
Kahsennenhawe Sky-Deer, Grand Chief of the Mohawk Council of Kahnawake, added, “Entain is a world-class operator with a genuine desire to contribute positively to the communities in which it operates.” In the gaming industry, Kahnawake is well-known not only for our internationally recognized jurisdiction through the Kahnawake Gaming Commission, but also for our socioeconomic initiative, Mohawk Online.
This new partnership between Entain and the Mohawks of Kahnawake is mutually beneficial and presents an excellent opportunity to increase our self-sufficiency through the ongoing success of Sports Interaction.”