Global law firm Dentons advised Emma Capital, a private investment holding focusing on markets in Europe and Asia, on their agreement with Entain plc, a leading global sports betting and gaming group, to sell a 75% stake in SuperSport, the leading gaming and sportsbook operator in Croatia. Emma Capital will contribute its residual stake in Supersport in exchange for a 25% stake in a new joint venture (“Entain CEE”) to drive the company’s expansion in Central and Eastern Europe. The transaction is expected to value SuperSport at €920 million.

The transaction is expected to complete in Q4 2022 and is conditional upon regulatory approvals.

Dentons’ cross-border team included partners Petr Zákoucký (Prague) and Rob Irving (Prague / Budapest), senior associate Kamran Pirani (Budapest), partners Alex Tostevin and Nik Colbridge (London), Josef Hainz (Berlin) and Sona Taghiyeva (Prague) and associates Sebastian Ishiguro (Budapest), Ivan Jelocnik (London) and Petr Müller, Tomáš Pavelka and Marco Meyer Vidal (Prague). Dentons advised alongside Emma Capital’s Croatian counsel, Lovrić, Novokmet & Partners, and Maltese counsel, GVZH Advocates.

Rob Irving commented: “The platform formed through the partnership between Emma Capital and Entain marks a momentous move in the CEE gaming market.”

Petr Zákoucký added: “We are very pleased to have the opportunity to support Emma Capital in this transformational transaction that simultaneously permits it to monetize on a great investment, while retaining access to further growth opportunities in the CEE gaming sector through Entain CEE.”

EMMA Capital is a private investment holding founded in 2012 by Jiří Šmejc. In recent years, it has focused chiefly on markets in the European Union but is also present in other markets in Europe and Asia. It usually plays an active role in companies where it acquires an equity stake, participating in their management, development and in any eventual restructuring. EMMA’s investment priority is retail and customer-oriented companies.

SuperSport was founded in 2000 and has gradually developed into the largest gaming company in Croatia, with a market share of over 54%. It focuses on sports betting, but also operates in other segments such as online casinos. EMMA Capital entered SuperSport in 2018 and took full control of it in early 2022.