Entain said on Thursday that it will spend spare cash on acquisitions this year rather than paying out dividends to shareholders, as it reported greater annual earnings bolstered by the popularity of internet betting during lockdowns.
Entain, which owns betting shops Ladbrokes and Coral as well as online businesses bwin and partypoker, did not declare a dividend for the second year in a row after withholding a payout last year due to pandemic fears.
“The board decided that right now, we want to keep our balance sheet strong and keep our flexibility to continue acquiring,” Chief Financial Officer Rob Wood said in an interview.
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