Ladbrokes owner Entain buys sports media business 365scores

(Reuters) -British gambling group Entain Plc said on Wednesday it acquired sports media business 365scores for up to $160 million to improve its interactive content and experience for users.

The acquisition includes contingent payments of up to $10 million, Entain said in a statement.

365scores, founded in 2012, offers coverage of 10 different sports and more than 2,000 competitions across the world.

Over the years, Entain added several betting groups to its portfolio, including five in 2022, when it expanded into Canada, the Netherlands and other parts of Europe.

Entain ventured into Central and Eastern Europe last year with its acquisition of Croatia's SuperSport Group.

In March, the gambling company's Chief Financial Officer Rob Wood said that mergers and acquisitions remained key to the company's growth strategy.

Entain's most popular brands, Ladbrokes, Coral and bwin, were bought through acquisitions.

"The combination of 365scores' deep expertise in data-driven sports media content alongside Entain's global scale and market leading platform capabilities will provide customers with a broader offering of interactive content and experiences," the gambling company said.

(Reporting by Radhika Anilkumar in Bengaluru; Editing by Sherry Jacob-Phillips and Dhanya Ann Thoppil)