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Ultimately, Ahlberg sees the acquisition as opening two possible paths for GiG, with the balance between B2B and B2C likely to depend on how each business performs. “I definitely think this business will become a larger part of GiG,” he concludes.

“And then I guess we will see. I mean if this business really grows fast, then it might become more B2C, but as I see it now, it feels like a kind of a 50-50 story where you have both opportunities there.

“If the B2B starts to grow faster, they might end up doing a bit more of that. If the B2C
does really well, they might end up doing more B2C. So I guess it’s still a bit early to see where it ends up longer term.”

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“The legislation mandated the regulation of the sector, which did not happen in the previous administration,” he explained. “We came into government with the sector operating for almost five years.

“We saw that they had entered football and advertising, and they have political and economic weight. Understanding that Congress would not prohibit the activity, we decided to put the brakes on and establish the rules.

“It’s not that I want to collect taxes because I need the money. I want to collect taxes for the sake of fairness: if a company sells cars, it pays taxes; if it sells drinks, it pays taxes. If it’s authorised to operate, it has to pay.”

About Power Of Atlantis Trio

UK&I continues to be a “standout performance” said the note, as Entain sits comfortably ahead of its peers and appears to be seizing market share, amid fallout from the UK’s remote gaming duty tax hike in April.

In a 14 August note from UBS, the investment bank reiterated its buy rating for Entain. “Overall, we believe Entain shares offer the highest theoretical upside potential within the European gaming sector, albeit with a risk profile that remains elevated relative to peers,” the note went on to say.

Entain’s share price tumble follows a broader trend for gaming stocks in recent years. Added to that is a declining interest in the LSEG, as listed companies continue to exit at pace, including Flutter, which removed its secondary listing from LSEG in August.