STS, a Polish sports betting operator, has announced a management reshuffle in the wake of its acquisition by Entain CEE. The reshuffle sees Radim Haluza taking on the role of the new chief executive of STS while also retaining his position as CEO of Entain CEE. Additionally, Mateusz Juroszek, the long-serving STS chief executive, has transitioned to the role of chairman of the supervisory board. These changes come four months after Entain CEE acquired STS in a £750m deal.
Juroszek expressed that the changes to STS management are aimed at improving the structure and operations within STS and Entain CEE. As chairman, Juroszek will be responsible for overseeing the group’s strategic development. Haluza, who is set to assume his new role in January, is also the CEO of SuperSport, Croatia’s largest gaming and sportsbook operator, acquired by Entain CEE for £690m in November 2022.
Juroszek stated, “I will continue to be actively involved in the development of Poland’s largest sports betting companies,” he went on to explain, “My primary activities at the moment are to focus on strategic goals and oversee their implementation both at STS and Entain CEE. Operational management will instead be the task of Radim Haluza. Our priority is to continue to grow in Poland and to exploit opportunities for growth across the region with Entain CEE.”
Entain CEE, targeted the region’s potential remains unchanged, with the remaining composition of STS’s management board, managerial structure, and plans for growth in the Polish market. It was confirmed that the management structure and plans for growth in the Polish market remain unchanged. The company is focused on making acquisitions across the Central and Eastern Europe region. Entain has a 75% stake in Entain CEE, while Emma Capital holds the remaining 25% stake.
STS has made a strong start to 2023, with net profit growing by 56.4% to PLN97m (£18.1m/€21.1m/$22.6m) in the first half of 2023. Additionally, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the half-year rose by 34.1% to PLN157m. Revenue also experienced significant growth, increasing by 13.7% to PLN299m during the period. This growth was aided by a 26.0% year-on-year increase in revenue reported in the second quarter of the year. In the first quarter, revenue ticked up by 7.4%.