Entain said it was acquiring the Jersey-based Avid Gaming, which owns Sports Interaction, a Canadian online sportsbook and casino. Avid has offices in Ireland and Kahnawà:ke and was previously owned by private-equity firm Middlebrook Investments. (The Logic)
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Entain said it was acquiring the Jersey-based Avid Gaming, which owns Sports Interaction, a Canadian online sportsbook and casino. Avid has offices in Ireland and Kahnawà:ke and was previously owned by private-equity firm Middlebrook Investments. (The Logic)
Talking point: Entain’s purchase of Avid comes as gaming firms place their wagers on how best to capitalize from the growing online-betting market in Canada; theScore and DraftKings are among the firms that have signalled their intention to invest more on marketing and promotions in Canada. With provinces now free to loosen restrictions on single-sports betting following a change to federal law last year, Deloitte estimated the market could be worth $28 billion within five years. In its press release, Entertain noted Sports Interaction’s rapid growth, with a roughly 40 per cent year-over-year increase in gross revenue in 2021. The business generated roughly $18 million in EBITDA last year.
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