Maintain change priorities, scale down Unikrn
Date: 2023-10-09 Author: Kirill Zagoruyko Categories: GAMING
Entain has unveiled its plans to trim Unikrn's B2C operations amid notable restructuring plans. Unikrn, acquired by Entain two years ago, marked the gaming company's foray into the world of esports. However, Unikrn no longer seems to fit Entain's overall strategy.
After acquiring Unikrn in October 2021, Entain relaunched the esports brand in December 2022. However, in less than a year, Entain plans to scale back Unikrn's B2C operations rather than expand the brand's global presence.
Entain said the decision comes amid restructuring efforts aimed at improving the company's business performance to enable it to deliver on its strategy and grow. The company praised Unikrn as a leading esports betting product and hinted that there will be many more opportunities to capitalize on its capabilities.
Entain did not provide further comment on its plans for Unikrn. However, Entain's statement seems to suggest that the parent company has no plans to shut down the brand just yet and could still pursue opportunities in the esports betting space.
Unikrn's downsizing comes weeks after Entain's Australian unit announced significant job cuts across several departments.
Earlier this year, Unikrn entered into a major partnership with BLAST, a leading esports company best known for its BLAST Premier Counter-Strike tournament series.
Entain continues to strive for growth
Meanwhile, Entain continues to pursue growth opportunities, as evidenced by many of its recent deals. For example, the company just completed its $100 million acquisition of Angstrom Sports, which helped it unlock significant opportunities in the lucrative US market.
Entain recently published a report providing an update on its current trading and updating its forecast for the 2023 financial year. In the report, the company outlined a number of measures it plans to take to increase shareholder value. However, the company also commented on the recent regulatory hurdles it has faced in the UK.
As a result of these setbacks, Entain forecasts a slowdown in online retail growth. Despite this, the company remains ambitious in its growth, with Jette Nygaard-Andersen citing increased profits, sustainable growth and the search for opportunities in the US as key strategic points.
Elsewhere, Polish brand STS has secured UEFA advertising rights through its recent acquisition by Entain.
After acquiring Unikrn in October 2021, Entain relaunched the esports brand in December 2022. However, in less than a year, Entain plans to scale back Unikrn's B2C operations rather than expand the brand's global presence.
Entain said the decision comes amid restructuring efforts aimed at improving the company's business performance to enable it to deliver on its strategy and grow. The company praised Unikrn as a leading esports betting product and hinted that there will be many more opportunities to capitalize on its capabilities.
Entain did not provide further comment on its plans for Unikrn. However, Entain's statement seems to suggest that the parent company has no plans to shut down the brand just yet and could still pursue opportunities in the esports betting space.
Unikrn's downsizing comes weeks after Entain's Australian unit announced significant job cuts across several departments.
Earlier this year, Unikrn entered into a major partnership with BLAST, a leading esports company best known for its BLAST Premier Counter-Strike tournament series.
Entain continues to strive for growth
Meanwhile, Entain continues to pursue growth opportunities, as evidenced by many of its recent deals. For example, the company just completed its $100 million acquisition of Angstrom Sports, which helped it unlock significant opportunities in the lucrative US market.
Entain recently published a report providing an update on its current trading and updating its forecast for the 2023 financial year. In the report, the company outlined a number of measures it plans to take to increase shareholder value. However, the company also commented on the recent regulatory hurdles it has faced in the UK.
As a result of these setbacks, Entain forecasts a slowdown in online retail growth. Despite this, the company remains ambitious in its growth, with Jette Nygaard-Andersen citing increased profits, sustainable growth and the search for opportunities in the US as key strategic points.
Elsewhere, Polish brand STS has secured UEFA advertising rights through its recent acquisition by Entain.
