July 17, 2023
We’re delighted to have been part of the advisory team assisting Entain on its acquisition of Angstrom Sports for a total consideration of £81 million plus contingent payments totalling a maximum of £122 million, payable over three years.
Angstrom Sports is a specialist provider of next generation sports modelling, forecasting and data analytics. Its simulation-based predictive modelling creates highly sophisticated pricing and forecasting capabilities. Angstrom’s proprietary offering is differentiated by its accuracy, richness, speed and breadth across US sports betting products and markets.
Corporate and Betting & Gaming partner David McLeish led a cross-departmental Wiggin team that performed a legal diligence and regulatory advisory role alongside the corporate team at Freshfields led by Nick Jones.
David said “We are pleased to have assisted Entain on this transaction. Angstrom’s next generation forecasting, pricing and risk management capabilities will allow Entain to unlock significant opportunities across BetMGM’s US sports betting. Our involvement demonstrated our unrivalled ability to marry commercial, IP and regulatory knowledge to help in the acquisition of this innovative business. We envisage further consolidation in this specialist industry segment.”
You can find out more about the deal here.
Wiggin’s corporate practice has been involved in many of the most significant deals in the online gambling sector in recent years. Its award-winning betting & gaming team also advises leading sector stakeholders on commercial and regulatory mandates on both UK and international matters.