Entain Plc (LSE:ENT) has hired advisers to oversee the possible sale of several of its overseas brands, as one of Britain?s largest gambling companies considers unwinding a multibillion-pound acquisition spree that hurt its share price. The Ladbrokes owner is reviewing the future of businesses, including a number snapped up by former chief executive Jette Nygaard-Andersen, and this month hired Wall Street boutique advisory Moelis, according to people familiar with the matter. Moelis is advising Entain?s board and the group?s recently formed capital allocation committee, and any disposals will be of brands that are not integrated into the company?s technology platform, which makes them easier to sell, the people said.

Among those that could be sold are Netherlands-based BetEnt B.V. (BetCity), which Entain bought for £398 million last year, the people added. A local offshoot of Ladbrokes Digital Australia Pty Ltd. in Australia, Sweden-based Enlabs AB (publ) and Georgia-based Mars LLC (CrystalBet), are other brands not integrated into Entain?s main tech platform and under review. The disposal of overseas brands would allow Entain?s management to focus on revitalising operations in its core markets, such as the UK and Germany, where it has been losing market share.

It would also allow the FTSE 100 group to invest more in BetMGM, its joint venture with casino group MGM Resorts International in the US, its fastest-growing market. Brands that did not use Entain?s in-house technology platform accounted for about a third of net gaming revenues in the first half of last year, according to company figures. Croatia-based SuperSport, acquired for £599 million in 2022, and Poland?s STS Holdings, which came with a price tag of £750 million last year, are also not on Entain?s main tech platform.

But last week Entain?s interim chief executive Stella David highlighted the strong performance of Entain CEE, through which the group owns SuperSport and STS.