Entain pulls partypoker from Russia and Moldova

Entain has pulled three of its brands from Russia and Moldova as the operator continues to drive towards its 100% regulated revenue target.

The FTSE 100 operator has reaffirmed its commitment to moving out of grey and unregulated markets by its self-imposed 2023 deadline, with partypoker being pulled from Russia and Moldova.

EGR also understands Entain’s PartyCasino brand has been pulled from Russia and Moldova, while its Moldova-only brand gamebookers.com has also been closed.

In a statement given to EGR, Entain said: “In line with our strategic commitment to operate exclusively in regulated markets by the end of 2023, we have taken the decision to withdraw from the Russian and Moldavian markets.”

In April 2021, the London-listed operator confirmed its intentions to distance itself from grey market operations and implement the commitment to only derive revenue from fully regulated markets.

At the time, the firm said 99% of its revenue came from fully regulated and regulating markets, which the group added would become 100% regulated by the end of 2023.

Last year, Entain pulled out of the Netherlands ahead of regulation of the online market in line with its in-house policy.

In the company’s Q3 2021 trading update, it confirmed the departure from the Netherlands would result in an estimated £5m monthly loss in EBITDA.

Entain is set to apply for a licence to operate in the Netherlands following its cooling-off period as it looks to re-enter the newly regulated space in Q2 2022.

Entain still operates in markets such as Brazil, which is currently regulating, with the operator established as one of the leading companies in the country via its Sportingbet and Betboo brands.