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Entain publishes update on Tab NZ and 365scores deals

| By Marese O'Hagan
Entain has provided more details on its strategic decisions regarding its recent partnership with Tab NZ and its acquisition of 365scores.
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Entain and Tab NZ entered into a partnership last month. The deal will see see Entain help to facilitate Tab NZ’s betting and broadcasting activities in New Zealand. The partnership commenced on 1 June 2023 and will last for 25 years.

One month prior to this, Entain acquired sports media business 365scores for $150.0m (£120.1m/€137.0m).

In its update, Entain said that these two M&A deals are expected to generate earnings before interest, tax, depreciation and amortisation (EBITDA) of between £15m and £20m in the 2024 financial year, and EBITDA of £50m in 2025.

Tab NZ deal

Dean Shannon, CEO of Entain Australia and New Zealand detailed how well-positioned Tab NZ and Entain are to take on this partnership.

“Tab NZ is uniquely positioned in New Zealand, with the only wagering licence and is the only operator of retail wagering,” he said. “This partnership provides unrestricted access into the regulated New Zealand market which has revenue of approximately NZ$600m and significant growth potential.

“The compelling partnership combines expertise and capabilities from both Tab NZ and Entain.”

He went on to focus on the New Zealand betting market. Shannon said that it could see underlying growth of close to 35% in the next five years. This would amount to a market valuation of NZ$800m.

He also said that Entain had committed to a “minimum annual return of NZ$150m back to Tab NZ”. This return is set to take place within the first five years of the deal.

Shannon said that Entain’s suite of Australian safer gambling tools, Punter Assist, will be integrated into Tab NZ’s platform.

“The strategic partnership between Entain Australia and Tab NZ represents a compelling opportunity for growth and value creation,” said Shannon. “Together, we will deliver a superior betting and gaming experience to customers in New Zealand, while also benefiting from the strengths and opportunities this partnership presents.”


Sameer Deen, chief strategy officer and president of new ventures at Entain, said that the 365scores acquisition would bring about positive engagement.

“They are keen sports fans, so their frequency of visit is extremely high, with returning app
users on average using the 365scores app around 100 times per month,” said Deen. “This is
well above industry standards and compares to traditional betting app averages of around five times a month.”

Deen added that 365scores’ audience is present in several regulated markets, including Mexico and Colombia and in to-be regulated markets such as Brazil. He said that this will be beneficial to Entain’s current Brazilian operations.

“365scores’ leading position in LatAm will be highly complementary to our current operation in Brazil, supporting our growth ambitions in a priority market for us with a clear path to regulation, as well as in other already regulated markets in the LatAm region,” Deen continued.

He added that he expects 365scores to deliver EBITDA of between £15 and £20m in 2024.

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