STS – FairOdds Network

December 19, 2023

STS appoints new CEO and chair following Entain CEE buy-out

STS has announced a management reshuffle with a new CEO and chairman appointed in the wake of its acquisition by Entain CEE.

Radim Haluza will become the Polish sports betting operator’s new chief executive, while also remaining as CEO of Entain CEE. Long-serving STS chief executive Mateusz Juroszek switches from that role to become chairman of the supervisory board.

The changes come four months after Entain CEE acquired STS in a £750m deal. Entain CEE is a joint venture between Entain, investment management company Emma Capital and the Juroszek Family.

ENTAIN ACQUIRED STS FOR £750M IN AUGUST 2023

Juroszek said the changes to STS management will improve structure and operations within STS and Entain CEE. Juroszek, as chairman, is charged with taking further care of the group’s strategic development.

Haluza, who takes over his new role on 1 January, is also the CEO of SuperSport, Croatia’s largest gaming and sportsbook operator. This business was bought by Entain CEE for £690m in N..

September 7, 2023

Net profit up 56.4% at STS in H1

Net profit at Polish sports betting operator STS Holding grew 56.4% to PLN97m (£18.1m/€21.1m/$22.6m) in the first half of 2023, a period in which it agreed to be acquired by Entain CEE for £750.0m.

Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the half-year rose by 34.1% to PLN157m.

The news that Entain CEE – Entain’s Central and Eastern Europe (CEE) venture – would acquire Poland’s leading sportsbook operator came in June, after Mateusz Juroszek, chief executive of STS, and his father Zbigniew, entered into an agreement to accept Entain CEE’s acquisition offer.

Entain CEE paid PLN24.80 per STS share. This put the business at an equity value of £750m and an enterprise value of an estimated £690m. The deal closed on 24 August, after STS shareholders – holding 155,591,656 in STS shares – backed the deal.

On the half-year, Mateusz Juroszek said STS focused on optimising its operations during the six months, adding that he projects increased player ..

August 25, 2023

Entain CEE adds another piece to the puzzle with STS

Entain CEE’s £750m acquisition of STS Holdings gives Entain access to Central and Eastern Europe's (CEE) largest economy, Poland. For Mikolaj Cymerman, head of corporate development at Entain CEE, this is just the first step.

The deal for the Polish sportsbook market leader marks the second acquisition made by Entain CEE, a joint venture between Entain and investment management company Emma Capital.

It’s also a major milestone for the two parties. Getting a foot in the door will allow Entain to make serious inroads in the CEE market, one already somewhat carved out by its first acquisition – of Croatia’s SuperSport – last year.

Mikolaj cymerman, head of corporate development, Entain CEE

“Once SuperSport happened, people were thinking ‘OK, so they’ve bought SuperSport and that’s it’,” Cymerman explains. “But now with STS, this kind of structure starts to unravel and people are seeing that this wasn’t a one-trick pony.”

It was this first acquisition that set the wheels in motio..

July 20, 2022

STS revenue declines despite higher stakes in Q2

STS – Poland’s largest bookmaker – reported a drop in net gaming revenue despite an increase in wagers in Q2.

In Q2, wagers were up 1.0% year-on-year to PLN1.11bn, despite Q2 of 2021 including the rescheduled Euro 2020. However, net gaming revenue – which includes gambling taxes as well as winnings – declined by 16.6% to PLN138m.

The business had 375,000 active users during the quarter, down from 417,000 in the same period of 2021. In addition, it reported 92,000 new registrations, down 22.7%, and 66,000 first-time depostors, down 19.2%.

Looking at the first half of 2022, net gaming revenue came to PLN296m, very slightly up from the same period of 2022.

The increase came as total wagers with the operator dipped sightly to PLN2.19bn.

“In the first half of this year, we achieved very good operating results,” STS chief executive Mateusz Juroszek said. “We have slightly improved NGR – the value of amounts staked by the customers, less the winnings paid and gambling and lottery tax – c..

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Tag: STS