Entain, the well-known gambling organization, supposedly intends to offload its PartyPoker subsidiary.
Entain Plans to Sell PartyPoker, but No Publicly Known Buyer Yet
Entain, one of the largest global sports betting and gaming groups, has announced its intention to sell its online poker platform, PartyPoker. The move comes as part of the company's broader transformation and financial adjustment efforts.
Stella David, the Interim CEO of Entain, will oversee this process. PartyPoker, which was bought by Entain in 2016 for £1.1 billion, has been a part of Entain's gaming segment ever since.
Launched in 2001, PartyPoker quickly became the largest online poker site in the world. However, in recent years, it has seen a significant decline in customers, and the loss was attributed to extraordinary expenses and numerous legacy issues.
PartyPoker is available in 14 languages and includes localized platforms in Italy and France. It has gained recognition through partnerships with famous poker professionals and various events. Its main competitor is PokerStars, which held a market share of 37.66% in Italy in December 2023.
Despite the sale plans, no publicly known information about a potential buyer for PartyPoker has been reported in the available 2025 sources. Entain's financial struggles, including a billion-dollar loss in 2023 and a £585 million fine by the UK's financial authority in November 2023, may have made it difficult to find a buyer.
The sale is being facilitated by consulting firm Oakvale Capital. If a buyer is found, the sale of PartyPoker is expected to generate £150 million, partially filling the financial hole at Entain.
It is worth noting that PartyPoker was previously part of PartyGaming, which went public in 2005 with a valuation of over £5 billion. However, PartyPoker is not a core part of Entain's business.
As the sale process continues, it will be interesting to see if a buyer for PartyPoker emerges. If there are any updates or insider news on specific buyers, they will undoubtedly be announced in due course. Until then, the future of PartyPoker remains uncertain.
What could be the potential reasons for a buyer to show interest in purchasing PartyPoker, given the financial struggles and losses Entain has experienced?Despite PartyPoker's past success in business and casino-and-gambling sector, what obstacles might potential buyers encounter when financing the acquisition considering Entain's recent setbacks?
