Entain’s Newly Acquired STS Group Post Improved H1 Figures

Entain who purchased leading Polish sports betting company STS Group saw the companies H1 results as a huge positive in their acquisition of the business in July this year for £600 million.

Although integration into Entain has not been completed STS Group posted improved results for the first half of the year with net gaming revenues rising by 17% to €75 million compared to the last year which stood at €64.5 million.

Full group wide revenues rose slightly to €65 million, but net profit rose a huge 57% to €21 million compared to €13.5 million in the previous year, and adjusted EBITDA by 35% to €34 million.

New customer base rose to with 72,000 first time depositors on new customers for the half year at 109,000. STS Group already have announced its focus on just the Polish market having pulled out of their business in the UK and Estonia.

Mateusz Juroszek, President of STS Holdings, said on the latest results: “In the second quarter of this year, we continued to optimise processes within the STS Group. Therefore, in H1 of the year we significantly improved both the financial result and the adjusted EBITDA, which increased by 57% and 35% year on year, respectively.

“We assume that in the second half of the year the activity of our players will be higher, which should have a positive impact on our operational and financial indicators.”