Entain to invest $133 million in metaverse development

As part of this endeavor, the customers will be experimenting with new products

31.01.2022 - 10:25

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1 min

What’s new? Entain, a sports betting and gambling company, has decided to invest in the metaverse. It will invest $133 million to launch a global innovation lab to develop immersive gaming and sports experiences in the metaverse. This is reported by CNBC News. The fund will help startups develop the NFT and virtual and augmented reality applications.

Information on the CNBC News website

What does the CEO say? As part of the endeavor, the customers will be experimenting with new products. CEO Jette Nygaard-Andersen said:

“We want to lead the way with new, exciting products and experiences for customers and use our cutting-edge technology to pioneer innovations in sport, gaming and interactive entertainment for the metaverse.”

What is known about the company? Entain plc is an international sports betting and gambling company. It is listed on the London Stock Exchange and is part of the FTSE 100 index.

MGM Resorts offered to buy Entain in 2021, valuing the company’s business at $11 billion. However, the board of directors rejected the offer, stating that MGM Resorts significantly undervalues the company and its prospects.

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