EMMA Capital sells three quarters of SuperSport


EMMA Capital Group announces that it has successfully concluded negotiations with Entain plc, a leading global sports betting and gaming group, for the sale of a 75% stake in the Croatian gaming company SuperSport. The two parties will also contribute their shares to a newly established joint venture, Entain CEE, in which they will each hold shares in a corresponding ratio, i.e. 75:25.


“We have been able to develop SuperSport into a dominant part of our portfolio. This led to us receiving very interesting offers for it. In order to diversify our assets further, we ultimately decided to accept Entain’s offer. It was the most comprehensive one and, moreover, it allows us to stay in a sector that we have learned to understand very well and have always been successful in,” Pavel Horák, Investment Director of EMMA Capital, comments on the transaction.

According to Horák, Entain’s investment will provide SuperSport with completely new prospects for further development and growth, both organically and through new acquisitions. EMMA Capital will actively participate in their fulfilment.

“With the entry of Entain, SuperSport has - figuratively speaking - qualified for the top European league. The presence of such a significant global player opens up entirely new development opportunities for SuperSport and we are happy to be part of this,” elaborates Horák.

Jette Nygaard-Anderson, Entain's CEO, commented: “We are excited to create Entain CEE to underpin our strategy across the CEE region, as well as our acquisition of Supersport in the highly attractive, fully regulated Croatian market. By bringing together Entain’s global expertise and EMMA’s regionalinvestment track record, we are creating a growth platform with considerable opportunity.”

With regard to the running of SuperSport itself, the partners do not plan any changes, and the company will continue under the same operational setup to which it has been accustomed. Radim Haluza remains the CEO.

The transaction also includes Croatian company minus5, which developed and continuously expands SuperSport’s IT platform, as well as SuperSport’s subsidiary, Puni Broj.

The acquisition price is dependent on SuperSport’s performance in 2022 and is estimated at EUR 690 million. This equates to a total valuation of SuperSport of EUR 920 million. At the same time, if certain performance criteria are met in 2023-24, EMMA Capital may receive higher dividends than would otherwise correspond to its 25% stake. The entire transaction is expected to be completed by the end of the year at the latest.

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

Entain plc is a leading global sports-betting, gaming and interactive entertainment group, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands, including bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds Foxy Bingo, Gala, GiocoDigitale, and Partypoker. The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. For further information, please visit www.entaingroup.com

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.


Pavel Zuna
Tel.: +420 602 475 698
Email: [email protected]


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