The prestigious sports betting and gambling company Entain has announced an investment of $133 million into the Metaverse.
Entain plc was formerly known as GVC Holdings. This firm currently operates as an international sports betting and gaming firm. You can trade its stocks on the London Stock Exchange and is a component of the FTSE 100 Index. Currently, the focus of Entain is to bring captivating gaming and sports experiences to the Metaverse. Henceforth, it plans to invest a vast amount of money, equivalent to $133 million. In regard, this fund intends to support Start-Ups that focus on developing NFTs and virtual reality technologies.
On Monday, the company went public with the announcement that they will join the Metaverse. In addition, the CEO, Jette Nygaard-Andersen, emphasized their goal of becoming a leader in the Metaverse gaming world. He also stated that they aim to develop innovative new goods and experiences. The leverage point they want to take on their hands is the forefront of technology. They want to create new sports, games, and interactive entertainment for the virtual space through this innovative technology. From the early days of blockchain, people constantly looked out for ways to implement it in gaming. Bitcoin provided a fast, secure, and anonymous way of payment that suits most people.
In light of this project, customers may try out new items in two retail experience zones or virtual reality arcades. For your information, Entain is the parent company of Bwin, Coral, Ladbrokes, PartyPoker, and Sportingbet.
In 2021, MGM Resorts, Entain’s joint venture partner, wanted to acquire the company for $11 billion. Nonetheless, the directors of the board rejected the offer. The main reason for this rejection was that it seriously undervalues the company’s future potential.