Entain Scaling Back Where Regulated Markets in Doubt
Posted on: January 18, 2023, 11:10h.
Last updated on: January 18, 2023, 12:15h.
A couple of years ago, Entain indicated that it wanted to focus its gaming operations primarily on markets that had established regulations. It began working on reaching that goal and will kick its plans into overdrive this year.
Gaming operators have been waiting patiently for different markets around the world to enter the regulated space. One of the most notable is Brazil, which continues to have an uncertain path toward full legalization.
The lack of forward progress leaves the operators in a tenuous position, unable to determine what the future holds. Entain is among them and wants 100% of its revenue to come from regulated markets by the end of this year.
No Room for Lack of Regulation
The global gaming giant published a press release Wednesday explaining its new drive. It announced that it will accelerate its vision of being the leading corporate citizen in the gaming industry. Entain added that it will be dropping out of “a number of unregulated markets where it no longer sees a path to domestic regulation.”
It didn’t specify Brazil as one of the markets it would leave, but doing so could be counterproductive. There’s a strong possibility that Brazilian lawmakers will figure out a way to advance legislation at some point this year.
Entain has met with political figures, including São Paulo Mayor Ricardo Nunes, about the importance of the market. Last September, they discussed the city’s capability of becoming a major gaming hub in Latin America.
If Brazil doesn’t advance gaming legislation, the company could change its mind. It only wants to be part of regulated markets or markets that demonstrate that they’re working toward that goal. As such, it doesn’t want to be part of any market that isn’t “able to regulate at sufficient pace or to the right standards.”
Entain didn’t allude to which markets it might exit. With over 23 brands in its portfolio, it occupies a place in gaming across the globe and a premature announcement could cause it to experience unnecessary revenue declines.
In a report on its corporate governance last year, Entain stated that it had already almost reached its goal. At the end of 2021, 99% of its operations were in established, regulated markets.
Entain Embraces STEM
Entain has a leading role in corporate citizenship. It claims it’s one of the leading pillars of its operations. As a further example of its efforts, it recently teamed up with the McLaren F1 Team. Together, they’ve created a program to develop career opportunities for women.
The company’s Returnship program is accepting applications to find roles for women in the STEM (Science, Technology, Engineering, and Mathematics) field. It has 10 spots to fill, which will be available either with Entain or McLaren.
The program will choose candidates from among the applicants to fill six-month positions. The finalists will have access to a personal coach to help them reenter the workforce. They will also learn how to network with executives and navigate a flexible work regime.
After the six-month period, if the candidate continues to meet the qualifications, she could receive an offer to become a permanent part of the company. There are positions available in software engineering and development, as well as data science and more.
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