Entain buys Angstrom Sports for up to $122m

Gambling firm Entain said it had bought Angstrom Sports for £81m plus contingent payments up to a maximum of £122m.

US-based Angstrom is a specialist provider of next generation sports modelling, forecasting and data analytics, Entain added on Monday.

"We are delighted that Angstrom will be joining Entain, enabling us to accelerate the development of the Entain Platform. Their next generation forecasting, pricing and risk management capabilities will unlock significant opportunities across BetMGM's US sports betting offering, particularly in the fast-growing markets of parlay and in-play wagering," said Entain chief executive Jette Nygaard-Andersen.

Reporting by Frank Prenesti for Sharecast.com