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Sports Betting Firm Entain Jumps On The Metaverse Bandwagon

Entain, a sports betting, and gambling firm, recently announced that it plans to establish a new global innovation hub named ‘Ennovate.’ The new venture will explore new technologies, including the most trending, metaverse.

Entain, is a partner of Las Vegas-based MGM casino. The brand released a press release that stated that the firm will reportedly invest £100 million ($130 million) in the new hub. This investment will aid in innovation projects, start-up investments, and collaborations with global partners including the United Kingdom (UK) and Europe. £40 million will be specifically assigned for an innovation hub in the space of entertainment tech in the UK.

Talking about the new hub Jette Nygaard-Andersen, Chief Executive of Entain 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.”

ALSO READ: UK Gambling Group Entain Plc Rejects MGM Resorts $11 Billion Takeover Bid

“We also want to use our position as a global technology leader to help drive innovation more widely. Working with partners around the globe, Ennovate will demonstrate how Entain’s industry-leading technology can both revolutionize experiences for consumers and deliver real benefits to society,” she further added.

The first innovation hub will be located at Charterhouse Square, Farringdon, which lies at the heart of London’s entrepreneurial tech community. The location is close to the UK headquarters of social media giants like TikTok and Snapchat. Technology giants like Verizon, BT, Theta Labs among others have partnered with Ennovate.

Sandeep Tiku, Chief Operating Officer at Entain, who is leading Entain’s work on disruptive innovations says, “Our goal is to bring the most exciting experiences in immersive sport, gaming and interactive entertainment to life as the metaverse takes shape.”

Apart from this, Entain’s announcement also included news of PartyPoker launching Non-fungible Token (NFT). As per news reports, the NFT’s by PartyPoker will feature some iconic video moments alongside tournament hands played from Partypoker and Partypoker LIVE’s history.

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