|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's range||16.81 - 17.24|
|52-week range||12.52 - 35.00|
|Beta (5Y monthly)||1.17|
|PE ratio (TTM)||30.59|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
(Reuters) -British betting group Entain said it would buy Croatia's SuperSport Group for 600 million pounds ($731 million) in cash on Thursday after the owner of Ladbrokes, Coral and bwin reported a 20% increase in half-year profit. Although Entain's online net gaming revenue fell 7% in the six months to June 30, shares in the FTSE 100 firm were nearly 3% higher at 0751 GMT as it resumed dividends, saying it would pay out 100 million pounds in total for the year. "In Q2, we also saw our increasingly recreational customer base responding to the changing macro environment and inflationary fears by moderating spend per head across the UK and parts of Europe," Entain, which also owns the partypoker online brand, said in a statement.
Entain, which forecast in March annual online net gaming revenue growth in the mid- to high-single digit range, said a weaker macro-economic environment was reducing customers' rate of spend, moderating overall online growth. The firm reported a 12% rise in its online net gaming revenue last year. Shares of Entain fell 6.5% in morning trade.
Entain said BetCity's offering was highly complementary to its bwin and Party brands, which are awaiting approval to operate in the Netherlands. Entain, which owns the Ladbrokes and Coral betting firms, said it would acquire BetCity from Sports Entertainment Media B.V. for an initial consideration of 300 million euros plus a deferred contingent consideration of up to 550 million euros.