STS Posts Strong Q2 Results Ahead of Entain Takeover

Ahead of the finalization of the acquisition by Entain, STS Group, the leading Polish sportsbook operator, released a new trading update, outlining the strong growth of the company for the second quarter of 2023. For Q2 of this year, the recorded amount of stakes hit PLN 1.103 billion ($278 million). This result, when compared to the PLN 1.066 billion ($268.6 million) result from the second quarter of last year, marked an increase of 3%.

When it comes to net gaming revenue (NGR), STS reported significant growth. For Q2 in 2022, NGR reported by the company was PLN 135 million ($34 million). In contrast, NGR for the second quarter of this year hit PLN 170 million ($42.8 million), a result that marks a solid growth of 26% year-over-year.

GGR for Q2 this year was PLN 298 million ($75.1 million), judging by the latest trading update released by the company. A comparison to the corresponding period shows that GGR in Q2 2023 increased by 14%, considering that the result from the same period in 2022 was PLN 263 million ($66.3 million). It’s important to mention that the latest results exclude the company’s Estonia and UK operations.

Mateusz Juroszek, STS Holding’s CEO, explained that the latest figures are a testament to the company’s strong growth and performance within the market in Poland. He spoke about the potential of the iGaming sector and acknowledged that STS is able to grow within the market in the country. “We hope to record the highest player activity in the last quarter of this year,” explained Juroszek in conclusion.

“The operating results for Q2 2023 confirm that STS is performing well in the Polish market. The potential of the domestic iGaming industry is high and STS is able to effectively exploit its market position.“

Mateusz Juroszek, CEO of STS Holding

Entain Secures Antitrust Approval for the Acquisition of STS

Entain’s takeover of STS was announced last month. At the time, the company confirmed it plans to acquire the leading Polish bookmaker in a deal with a £750 million ($945 million) price tag. The proposal saw the approval of two of the company’s largest shareholders, Mateusz Juroszek and Zbigniew Juroszek, that collectively own some 70% of STS.

Earlier this week, Entain confirmed that Entain Holdings secured antitrust approval for the acquisition of STS from the president of the Office of Competition and Consumer Protection. The aforementioned approval marked an important milestone in Entain’s plan to acquire the leading sports betting operator.