Entain acquires Sportsflare for US$9.9M

Tidal Gaming Group has transferred its wholly-owned subsidiary, Tiidal Gaming NZ, the parent company of Sportsflare. The acquisition was first disclosed in March this year, and the occurrence is yet another acquisition that the company has carried out in terms of esports-related betting products. This comes with a bet builder, a unique solution for esports and small-sized markets, and provides the options for bettors to be able to lay bets in terms of their own gameplay. Entertain has carried out the acquisition by paying the amount of US$9.9 million. 

Tiidal will be holding on to the price for six months. In the interim period, Tiidal will be in the position of carrying out the required shifts to the capital as and when required and will be in control of 20% of the funds to be utilized by them in terms of any further costs involved in the deal. With the ultimate finalization of the deal, Tiidal offered the company’s CEO 2,500,000 restricted shares, in tune with the agreement that had been worked out. A further amount of 1,910,700 shares were distributed amongst the employees of Sportsflare. Tiidal had released a total of 87,603,908 shares. According to online sports betting news, Thomas Hearn, the CEO of Tiidal, always believed that the merger of Sportsflare and Entain would strengthen the company’s position.  

It was in December 2022 that Entain was instrumental in redelivering Unikrn, an esports betting brand that it had duly taken over in October 2021. In doing so, Entain came in for Unikrn’s technology as well as the esports betting platform. Unikrn entered into a multi-year agreement with Blast, another esports entertainment company, in March, following the announcement of the acquisition of Tiidal.

Entain makes investments in disruptive technologies via Innovate. The hub is responsible for making investments to the tune of 100 million euros in the field of virtual reality as well as blockchain solutions. The company has built BetCity in the Netherlands and Enlabs in the Baltics. Eastern Europe witnessed the takeover of SuperSport. In the offing are two fresh deals involving TabNZ and 365 scores.