Business
TAM expected to grow 3x and extension into esports
TAM expected to grow 3x and extension into esports.
About this update from Entain Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4891I\n Entain PLC\n 12 August 2021\n \n \n \n \n \n \n \n Entain plc\n \n \n (\"Entain\" or the \"Group\")\n \n \n \n \n \n Total addressable market expected to grow more than three-fold to c.$160bn\n \n \n Extension into interactive entertainment with move into esports\n \n \n \n \n \n Entain plc (LSE: ENT), the global sports-betting, gaming and interactive entertainment group, is hosting an investor event today to outline the exciting growth opportunities ahead for the business. \n \n \n Entain's two strategic pillars of growth and sustainability are the core drivers of our success. Sustainability is a strategic imperative and we are making significant progress with our sustainability charter that we will provide an update on in more detail later in the year. Today's event will focus on the four key growth opportunities available to the Group:\n \n \n · \n \n Leadership in the US ($32bn market, from $6bn today)\n \n \n \n We are making significant progress in the growing US sports betting and iGaming market. BetMGM is firmly established as the number two operator in the market and is targeting a long-term market share of 20% to 25% of the North American online market, that we expect will grow from around $6bn today to around $32bn over the long term.\n \n \n · \n \n Grow our presence in core markets ($70bn market, from $40bn today)\n \n \n \n We are licenced in 27 countries today as well as operating in a number that are in the process of regulating. We have leadership positions in a significant number of these with an average market share currently of around 13% to 15%. We have a strong track record of driving organic growth and our markets have in-built growth as online betting and gaming extends its appeal and scale. We estimate these markets to be worth around $40bn today and expect them to grow to around $70bn over the long term.\n \n \n · \n \n Expand into new regulated markets ($40bn market)\n \n \n \n We will only operate in regulated markets by the end of 2023, providing the highest quality of earnings for our stakeholders. We have a strong track record of M&A and our global brands, regulatory expertise and scale also enable us to enter markets organically. Increasing numbers of markets are regulating for betting and gaming...