Entain expands its range in Canada with the acquisition of Avid Gaming
The gambling industry is taking shape very exciting not only because of the wide range ofInternet games of chance. It never gets boring because gambling companies buy each other or merge with each other. Thanks to these takeovers, a provider's product range is not limited to just one country - rather, it is possible through mergers that certain games can be offered in other countries. This is how it will soon happen in Canada: Entain takes over Avid Gaming and can thus expand its range in Canada.
Entain pays two million euros
To take over Avid Gaming To be able to, Entain offered a purchase price of two million euros. This appears to be a small amount compared to other acquisitions. On the other hand, it must be noted that online gambling has only recently been enjoyed in Canada. That's why Entain is particularly proud of the purchase and hopes to be one of the first gambling providers in Canada. Of course,Avid Gaming is an online gambling operator that offersSports Betting. At the same time, Avid Gaming is currently the leading sports betting provider in Canada.
That will soon change and Entain will replace Avid Gaming. It can be assumed that the previous offer from Sports Interaction will continue to be offered. However, Entain is a very well-known and popular provider of various gambling games. The online sports betting offerBwin belongs to Entain and is already offered in Canada. In addition, Entain is represented in Canada with its Party offering. This means that Entain is by no means breaking new ground with its acquisition of the Canadian sports betting company.
Canadian players are nonetheless excited about the expanded offering that Entain will bring. At least it doesn't hurt if several portals are combined and the players get different games from one source.
Entain wants to expand further
The purchase of the Canadian sports betting provider is far from over for Entain. This gambling company has already announced that it wants toexpand further and has therefore applied for a license in Ontario. This is because in two months sports betting will be legalized in this province as well. It can be assumed that Entain will continue to apply for a license for the provinces in the future, in which sports betting will also be legalized. At the moment, online gambling is not yet legal across Canada.
The purchase of Avid Gaming can help Entain with the planned expansion. This range is already well known and the acquired gaming group has been able to generate high sales in recent years. In the year2021 it achieved a turnover of 76 million CAD. According to official reports, this is a growth of 40 percent compared to the previous year. If Entain succeeds in further increasing sales, the purchase price of CAD 300 million will soon have been amortized.
Avid Gaming represented in several countries
Why Avid Gaming was for sale at all was not disclosed. This company was founded in 2015 and has specialized in offering online gambling since the beginning. In order to present an exciting offer, this group works together with well-known and large gambling groups from the very beginning. The company's headquarters are in Jersey, with two further branches in Canada and Ireland. This information clarifies why Enttain was interested in Avid Gaming in the first place. The company'sprofessional software could also help Entain in other countries.
After all, the developed software is not only suitable for sports betting, but for all games of chance in general. This is how it came about that Sports Interaction's online casino not only offers sports betting, butvarious games of chance: roulette, blackjack andmany slots. Among the slots there are numerous well-known and popular slots presented in several countries. A very good example is the popular slot Buffalo in different versions. When it comes to sports betting, it is noticeable that not only the usual sports such as football or tennis are offered here. There are also motor racing and darts sports.
Entain has been a success for decades
Entain has been around longer than Sports Interaction. This company was founded in2004 as GVC Holding in Luxembourg and has had a steep career since then. The online casino CasinoClub was presented in 2004, while the license from Malta was issued in 2007. At the same time, the Sportsbook portal was launched this year. Just five years after its founding, Entain was able to expand to South America. Australia followed shortly thereafter. All these expansions also lead to the company being renamed Entain at the end of 2020.
Over the years, Entainseveral secure online casinos and online bookmakers have been developed. The best known are:bwin, Ladbrokes, Sportingbet, Gamebookers, Crystalbet, CasinoClub, Partypoker and PartyCasino. New brands were also created through the merger with other gaming groups. The best example of this is BetMGM, which was created as a result of the merger with the American group MGM Resorts International. However, this brand can only be used in the USA.
Canadian Gambling Law
In Canada,Online casinos are prohibited by law, this also applies to online sports betting. However, the provinces may publish their own casinos or work together with private gambling providers. Then online casinos are legalized and the penal code no longer applies. Because of this, the situation in Canada is confusing as all provinces are allowed to make their own regulations.
Only the Mohawk Council of Kahnawake has permission to license online casinos. The province has also used this special position and issued a license to about250 operators. Not only players from their own province are allowed to participate in these casinos. Rather, all Canadian citizens may access the offer. Still, Entain hopes to get licensed from Ontario. However, this will only succeed if the current gambling law is changed as planned. Experts expect Ontario to become a major gambling hub.