Entain Divests Croatian Subsidiary SuperSport Casino Vertical to Focus on Core Sports Betting
Entain has agreed to sell the online casino operations of its Croatian subsidiary SuperSport to a consortium led by Emma Capital for €340 million, retaining only the sportsbook business. The move signals a strategic pivot toward Entain's stated sports-first growth thesis in Southeast Europe.
Entain plc announced Tuesday it has reached a definitive agreement to divest the online casino vertical of its Croatian subsidiary SuperSport to a consortium led by Czech investment firm Emma Capital, in a transaction valued at €340 million. Under the terms, Entain retains full ownership of SuperSport's market-leading sportsbook and retail betting network, while the acquirer takes control of the casino platform, slots portfolio licensing agreements, and roughly 180,000 active casino accounts. The deal is expected to close in Q4 2026, subject to approval from Croatia's Ministry of Finance gaming regulator.
The divestment reflects a broader recalibration within Entain following the strategic review initiated by CEO Stella David earlier this year. Executives have repeatedly signaled that the group intends to concentrate capital on sports betting verticals where it holds top-two market positions, while shedding non-core casino assets in fragmented jurisdictions. SuperSport, acquired by Entain in 2022 for approximately €920 million, has seen its casino segment face intensifying competition from unlicensed offshore operators, prompting the reassessment.
Emma Capital, which has been steadily building a Central and Eastern European gambling portfolio through its Fortuna Entertainment Group holdings, said the acquisition will be operated as a standalone brand under a transitional services agreement with SuperSport lasting up to 18 months. Analysts at Regulus Partners noted the transaction values the casino vertical at roughly 8.2x forward EBITDA, a modest discount to recent regional comparables that reflects Croatia's uncertain tax trajectory as the government weighs a proposed increase in GGR levies.
Proceeds from the sale will be directed toward debt reduction and Entain's ongoing US joint venture BetMGM, according to a note issued alongside the announcement. Shares in Entain rose 3.7% on the London Stock Exchange in early trading, with investors welcoming the clarity around the group's portfolio strategy. Attention now turns to whether similar disposals could follow in Georgia and the Baltic states, where Entain holds smaller casino-heavy footprints.