Gambling Giant Entain to Acquire Esports Betting Startup

Gambling Giant Entain to Acquire Esports Betting Startup

Last updated on August 15th, 2021 at 12:12 am

Gambling giant Entain announced that it is acquiring Unikrn. The latter is a startup based in Seattle. Also, it serves as an esports wagering platform. The two parties didn’t disclose the acquisition’s terms.

According to pay per head reports, Unikrn was established in 2014. It has various famous investors, including Ashton Kutcher and Mark Cuban. Also, it allowed people to wager on esports games, including Counter-Strike and League of Legends.

Entain owns several online sports betting brands, including Ladbrokes and Bwin. In addition, it has brands in various gambling areas, including casinos, bingo games, poker, and sports betting. In 2020, it handled over $16 billion in sports betting. Also, it has over 24,000 employees across the globe.

Gambling Giant Entain Acquires Unikrn

Gambling Giant Entain to Acquire Esports Betting StartupUnikrn is briefly stopping its administrations as the arrangement is finished.

Rahul Sood, formerly led Microsoft Ventures, and Karl Flores established the organization. Flores replaced Sood as the chief executive officer last year. As a result, he will join Entain alongside Unikrn’s different workers. The organization has 40 workers, as indicated by LinkedIn.

Sood disclosed to sports betting platform experts that he would stay in Seattle and search for another chance. He said that it was an enjoyable journey with challenges and celebrations along the way. Also, the former Unikrn CEO is thrilled about the future of Entain and Unikrn. At present, he is looking for something to do.

Entain hired Twitch founder Justin Dellario to supervise its esports operations. Entain gauges that esports betting and casino sectors could add $20 billion in addressable market share by 2025.

Unikrn additionally raised $31 million for an initial coin offering in 2017. After that, however, it ran into legitimate difficulty. Recently the organization paid a $6.1 million fine. Also, the company had to incapacitate its UnikoinGold cryptocurrency to settle with the SEC.

You can also become a bookie with a pay per head. You can accept wagers on esports and be the next Unikrn.

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