LONDON — Gambling group Entain is exploring strategic options for its Central and Eastern Europe business, including a potential sale of its stake in the unit, according to people familiar with the matter, as the company seeks ways to address financial pressures stemming from higher gambling taxes in Britain.
Reuters reported on June 18 that Entain, owner of the Ladbrokes and Coral brands, has begun evaluating alternatives for its Central and Eastern Europe (CEE) joint venture. The discussions are at an early stage, and there is no certainty that a transaction will be completed, according to the sources. Entain declined to comment on the report, while its partner, Czech investment firm EMMA Capital, said it would neither confirm nor deny any talks.
One option under consideration is the sale of Entain’s holding in the venture to EMMA Capital, two of the sources told Reuters. Proceeds from any deal could be used to reduce debt, one source said. The people spoke on condition of anonymity because the discussions are private.
The review comes as Entain faces increased costs following changes to Britain’s online gambling tax regime. The company has said it expects the tax increases to add about £200 million in annual costs and has outlined measures aimed at offsetting part of the impact over the coming years. Entain’s shares have fallen by about 30% since the tax changes were announced in November, according to LSEG data cited by Reuters.
The CEE venture was established in 2022 through the acquisition of Croatian sportsbook operator SuperSport by Entain and EMMA Capital. The partnership expanded in 2023 with the acquisition of Polish betting operator STS, a deal valued at about £750 million, according to company disclosures and Reuters reporting.
Entain CEE reported earnings before interest, tax, depreciation and amortization of approximately £184 million in 2025, up from about £170 million a year earlier, according to the company’s annual results. Entain reported annual profit of about £1.16 billion for the same period and ended 2025 with adjusted net debt of roughly £3.64 billion, company figures showed.
The venture remains majority owned by Entain. Reuters reported that the original SuperSport transaction included options that could eventually allow either partner to alter ownership arrangements after a specified period.
As of Friday, neither Entain nor EMMA Capital had announced a formal transaction. Discussions remain ongoing, and details of any potential deal remain unclear.
