Entain has confirmed the first stage of its planned withdrawal from Central and Eastern Europe after agreeing to sell part of its stake in the Entain CEE joint venture to partner EMMA Capital in a deal worth approximately €425 million (£366 million). The transaction values the regional business at around £1.9 billion and marks the start of a phased exit from the market.
Under the agreement, Entain will sell its 20% holding in the joint venture for cash, with the proceeds primarily earmarked to reduce the group’s net debt, which stood at approximately £3.64 billion at the end of 2025. The company also said any excess capital generated through the wider disposal process could be returned to shareholders.
Chief Executive Stella David described the transaction as a significant milestone in Entain’s strategy, saying the initial divestment represents the first decisive step towards a full exit from the CEE business while supporting the company’s focus on creating long-term shareholder value.
Entain CEE was established in 2022 through a partnership with EMMA Capital, beginning with the acquisition of Croatian betting operator SuperSport. The business expanded the following year with the purchase of Poland’s leading bookmaker STS Holdings, strengthening Entain’s presence across the region.
Despite those investments, the division has recently faced weaker performance. In its first-quarter 2026 trading update, Entain reported a 6% decline in CEE net gaming revenue, driven by a 30% fall in retail revenue, while online revenue slipped by 1%.
The market reacted positively to the announcement, with Entain’s shares rising shortly after the news was released. Company executives maintained that the investments in Croatia and Poland had created substantial value, and that the planned disposal reflects disciplined capital allocation while allowing the group to focus on improving cash generation across its global operations.
Once the transaction is completed, Entain’s ownership in Entain CEE will decrease from 67.5% to 47.5%, while EMMA Capital’s stake will increase from 22.5% to 42.5%. The move follows reports last week that the FTSE 100 betting group was exploring strategic options for its Central and Eastern European business as it seeks to strengthen its balance sheet amid rising financial pressures.