British land-based and online sportsbook behemoth Entain looks set to increase its presence in the newly-liberalized iGaming market of Canada after inking an arrangement to purchase smaller operator Deis Limited for approximately $235.9 million.

The London-listed company used an official Monday press release to detail that the arrangement for the firm also known as Avid Gaming is due to give it control over the Sports Interaction sportsbetting brand that is already accessible to Canadian punters via the Mohawk Online Limited enterprise of the Mohawk Council of Kahnawake.

Encouraging endeavor:

Entain stated that this acquisition is destined to be ‘highly complementary’ to its Party and Bwin brands, which are already accessible to Canadian online sportsbetting aficionados, and allow it to supply punters from across the giant nation ‘with a broader offering of engaging products and services’. The operator also declared that Sports Interaction’s ‘local expertise, capabilities and partnerships’ are to now be combined with its own ‘global scale, expertise and market-leading platform’ in order ‘to drive further growth in line with the group’s growth and sustainability strategy.’

Future foundations:

For his part and Golby welcomed the fresh arrangement by painting Entain as ‘an exceptional company’ that features ‘world-class brands, strong leadership and a winning strategy’. The professional additionally asserted that his entity’s Sports Interaction brand has been experiencing ‘rapid growth’ and recently saw its gross revenues for 2021 rise by around 40% year-on-year to top $59.7 million and produce earnings before interest, tax, depreciation and amortization as well as profits of about $14.1 million and $13.6 million respectively.

Golby’s statement read…

“Entain has a unique approach to local markets and no other company of its scale consistently delivers so many well-executed and localized approaches to the same level of customization and detail. Entain’s commitment to sustainability, responsible gaming and community investment aligns exactly with our own business philosophy and we look forward to a bright future together.”