Entain Sells CEE Stake to EMMA Capital for £366m

Key Takeaways:

Entain will sell its 20% stake in Entain CEE for £366m.
The transaction values the Central and Eastern Europe business at £1.9bn.
Proceeds will be used to reduce Entain’s £3.64bn debt figure.

Entain has confirmed the sale of its 20% stake in its Central and Eastern Europe (CEE) business to joint venture partner EMMA Capital. The transaction, valued at approximately €425m (£366m), marks the first step in Entain's planned phased withdrawal from the region. The exit gives the CEE division an enterprise value of £1.9bn. Entain intends to use the net proceeds to reduce its current debt of £3.64bn, while returning any excess capital to shareholders.

Reversing the CEE Expansion

Entain CEE was established in 2022 through a joint venture with EMMA Capital. The operation initially expanded by acquiring EMMA’s 75% stake in Croatian sports betting market leader SuperSport, drawing attention to regional markets like Croatian Football League betting. In 2023, the business grew further by acquiring STS Holdings, the dominant player in the Polish betting market, funded by a £600m bookbuild.

Following the completion of this new transaction, Entain’s share in the venture encompassing SuperSport and STS will decrease from 67.5% to 47.5%, affecting how bettors approach the best betting sites and claim the latest betting sign-up bonuses. Conversely, EMMA’s stake will increase from 22.5% to 42.5%.

Financial Strategy and Market Reaction

The decision to exit the region follows diminishing returns reported in recent financial statements, drawing attention to sports betting strategy across Central and Eastern European markets like Czech First League betting. Entain's Q1 2026 trading update revealed a 6% decline in CEE net gaming revenue, driven by a 30% drop in retail revenue and a 1% fall in online operations. Group Chief Executive Officer Stella David stated, “Our initial divestment is a decisive first step towards Entain fully exiting Entain CEE and reflects our ongoing focus on maximising value for shareholders.”

Following the announcement on June 25, 2026, Entain shares rose by 13p to £5.70 on the London Stock Exchange within 15 minutes, signalling early shareholder approval. David added that the move enables the company to unlock the value created by its Croatian and Polish businesses, demonstrating robust capital allocation discipline.