Entain is exploring strategic options for its Central and Eastern European business, including a potential sale of its stake in the Entain CEE joint venture, according to reports.
Reports emerged this week that the operator was assessing the future of the business. Following the reports, Global Gaming Insider contacted Entain for comment. The operator did not provide a comment, while joint venture partner EMMA Capital said it would neither confirm nor deny any discussions.
The review comes at a time when Entain is facing growing pressure from changes to the UK's gambling tax regime. Since April, remote gaming duty on online casino products has increased to 40% from 21%, while the tax rate on online sports betting has risen to 25% from 15%.
Entain has previously estimated the changes will add approximately £200m ($264m) in annual costs, prompting a wider programme of cost reductions and efficiency measures. The operator's share price has fallen by around 30% since the tax increases were announced last November.
One option under consideration is a sale of Entain's holding in Entain CEE to Czech investment group EMMA Capital, its joint venture partner.
Entain CEE was established in 2022 after Entain partnered with EMMA Capital to acquire Croatian operator SuperSport, a transaction designed to create a regional expansion platform across regulated Central and Eastern European markets. The venture expanded significantly in 2023 through the approximately £750m acquisition of Polish bookmaker STS, one of the largest sports betting operators in Poland.
As Global Gaming Insider reported at the time, Entain's acquisition of STS in Poland drew criticism from some investors concerned about the price paid for the business and the complexity of the transaction.
However, Entain CEE has since become one of the group's stronger-performing regional divisions, with EBITDA rising from £170m in 2024 to £183.7m in 2025. Any move to dispose of the asset would therefore come at a time when the business is continuing to deliver earnings growth.
The original SuperSport transaction included call-and-put options that become exercisable from the third anniversary of completion, creating a potential pathway for ownership changes between the two partners.
Despite speculation around its future, the business remains a significant contributor to group earnings. Entain CEE generated £183.7m in EBITDA during 2025, up from £170m a year earlier. At group level, Entain reported NGR of £5.16bn, adjusted EBITDA of £1.16bn and adjusted net debt of £3.64bn at the end of 2025.
The operator also recorded a £488m impairment charge against its UK business following the tax changes, contributing to a loss after tax of £680.5m for the year.
Earlier this month, Entain called on the UK Intellectual Property Office to tighten trademark registration rules for gambling brands, arguing that unlicensed operators were able to obtain UK trademark protection despite lacking Gambling Commission authorisation.
The STS acquisition brought the Juroszek family into Entain CEE's ownership structure through a minority stake in the regional business
