Entain Enters Dutch Market With €850m BetCity Deal

Whole share capital acquisition

iGaming and sports activities betting large Entain has introduced its complete share capital acquisition of BetEnt and its flagship model BetCity from Dutch agency Sports activities Leisure Media.

an preliminary consideration of €300m ($313m)

The cash-plus-earnings-related deal, introduced Tuesday, will see Entain pay an preliminary consideration of €300m ($313m) and a deferred contingent consideration capped at €550m ($573m) for the net betting and iGaming agency. Value a complete of €850m ($887m), the deal is anticipated to shut in the course of the second half of 2022.

In accordance with an organization information launch, Entain expects the acquisition of BetCity to herald roughly €28m ($29.2m) of value synergies by the top of 2026, principally derived from expertise, content material, and royalty advantages.

Enticing development indicators

The FTSE 100 operator described BetCity’s providing as “extremely complementary” to its iGaming and sports activities betting manufacturers bwin and Celebration, which Entain has confirmed are nonetheless awaiting approval to function within the Netherlands.

Entain CEO Jette Nygaard-Andersen mentioned the deal is a part of the agency’s “development technique of working in enticing regulated markets.” She added that her agency was “delighted” by the BetCity addition and “excited by the numerous alternatives within the newly regulated Dutch market.”

The Netherlands’ authorized iGaming and sports activities betting market launched in October 2021. Beneath its BetEnt mum or dad, BetCity was one of many first ten operators to obtain a web based sports activities betting and gaming license from the KSA (Kansspelautoriteit) in time for the market launch.

In accordance with Entain, BetCity has thrived since gaining its Dutch license, experiencing quick development. A lot so, it has develop into a market chief, with round 20% market share throughout This autumn 2021.

Entain on 2022 shopping for spree

Entain, previously generally known as GVC Holdings, is doubling down on enlargement plans this 12 months. In April, with an eye fixed on the profitable Ontario sports activities betting and iGaming market, Entain acquired the holding firm of Canadian betting operator Sports activities Interplay in a deal value CAD$300m (US$236m).

Nygaard-Andersen affirmed that the Sports activities Interplay acquisition would full Entain’s present Canadian presence and permit it to leverage the newly acquired agency’s native experience.

The publish Entain Enters Dutch Market With €850m BetCity Deal appeared first on VegasSlotsOnline Information.

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