Entain Completes Unikrn Acquisition
Leading betting and gaming operator Entain has completed its acquisition of esports platform Unikrn. The takeover will support Entain’s launch into the esports market, which is planned for 2022.
Last year, esports events were watch by 450 million people around the world. ©RODNAE Productions/Pexels
Justin Dellario Joins Entain
Entain’s purchase of Unikrn includes the brand’s products, platform and technology. It also gains Unikrn’s international team of 50. With these new assets under its belt, Entain will be able to make considerable headway into the esports market next year. Unikrn is one of the top operators in esports betting and skill-based wagering.
Unikrn was launched in Seattle, Washington in 2014. In just seven years, the company has grown to become a market leader. It offers real money and token-based wagering on competitive video game competitions. Organized gaming tournaments have been popular since the 1970s, but innovations in live streaming have allowed esports to expand rapidly over the last decade.
Now Entain is keen to make its mark on esports, with the help of Unikrn. It plans to maximize on the esports platform’s years of experience and inside knowledge to boost its own entry into the global market. Esports is a competitive industry, so Entain’s new acquisition will give it the boost it needs to make an impression.
Justin Dellario recently joined Entain from streaming platform Twitch as Managing Director of Esports. He will be leading Entain’s esports strategy as it pushes to establish itself in this new market. The plan is all part of Entain’s strategy to diversify its offerings and stay ahead of the curve on interactive entertainment.
Dellario’s experience at Twitch will be invaluable for Entain. Twitch is the world’s leading live streaming platform for gamers, and is an integral part of esports. During his time at the company, Dellario accrued a wealth of knowledge in esports content and operational delivery. Entain CEO Jette Nygaard-Andersen welcomed Dellario to the company in August:
“One exciting opportunity is the growing esports skill-based wagering market. We are building the first scalable platform to address this market and I am delighted that Justin Dellario is joining us to lead our growth in this new area.”
New Esports Assets
Entain is now delighted to have completed the takeover after agreeing to the purchase earlier this year. Exactly how much Entain paid for Unikrn has not been disclosed, but it did outline plans to invest more than £50 million in its esports platform, which included the cost of the acquisition. Dellario explained why it so important for Entain to cater to different entertainment markets, stating:
“Entain is all about creating exciting and innovative products for our customers. With Unikrn, we’ll now be able to offer competitive gamers and esports fans alike rewarding experiences surrounding the games and events they love.”
Entain will benefit from Unikrn’s impressive portfolio of products and services, including U-Mode and Streamer Bet. U-Mode allows gamers to bet on their own ranked matches in some of the most competitive gaming titles in the world, while Streamer Bet uses AI to update betting odds on Twitch streams in real time.
The FTSE 100 firm first announced plans to purchase Unikrn in August. Speaking to investors, Entain explained that it believes esports wagering and social casino related markets could boost its addressable markets by $20 billion by 2025.
It also spoke about how media, entertainment and gaming markets are merging and overlapping. Current gaming trends show that consumers want more content as well as richer and more interactive experiences. The operator is always looking to lead on innovation and give customers what they want.
Esports is now recognized as a mainstream sport and is watched by 450 million viewers. A rapidly growing market, it is particularly popular amongst young people aged from 18 to 35. Entain aims to offer skill-based wagering to this target market, building on its existing sports betting experience. It is confident of its migration into esports as other operators lack the scale to corner the niche.
Unikrn Returns in 2022
On top of this, the operator has found that video gamers are more than four times more likely to take part in sports betting and gaming than others in the same demographic. It is clear that the operator has identified an exciting new market to expand into, and with Unikrn’s assets it will soon be able to offer esports fans an array of wagering services.
While Entain works on incorporating Unikrn’s brand into its own, the esports site is temporarily closed for business. Unikrn’s website says that it will return in 2022 with a freshly renovated platform and even more to offer its customers. As Entain is also responsible for such brands as Ladbrokes, Coral and bwin, Unikrn’s new site will benefit from even more shared content.
Announcing the completion of its latest acquisition, Entain also commented on how it plans to implement customer protections in its new market. It will extend its safer gaming initiatives and player protections to its new customers across its sports wagering and interactive entertainment products. The operator has also created partnerships with specialist organizations via its non-profit Entain Foundation.
These partnerships offer those at risk of gambling harms with education and support. Included in the roster of partnerships is the Counter-Strike Professional Players Association, Kindbridge and Rise Above the Disorder. These are groups that represent professional players across esports, advocate for mental health care and offer advice and support.
Entain is currently in talks with fantasy sports operator DraftKings, which has offered to take over the operator for $22 billion. DraftKings made the offer in September and an agreement has still not been reached. However, Entain has just granted DraftKings another four weeks until it hits a “put up or shut up” deadline.
