Entain Acquires Dutch Online Sports Betting Operator BetCity.
MANews-(C)2009-2022
UK-based sports betting, gaming and interactive entertainment group Entain plc (LSE: ENT) has agreed to acquire the entire share capital of BetEnt B.V., which trades under the BetCity.nl name, from Sports Entertainment Media B.V. for an initial consideration of EUR 300m (USD 310m) and deferred contingent consideration of up to EUR 550m, the group said.
BetCity is one of the Netherlands' largest online sports betting and gaming operators. Headquartered in Amsterdam, BetCity received an online sports betting and gaming licence from the KSA (Kansspelautoriteit), the Dutch Gaming and Gambling Authority, in October 2021.
Entain said the newly regulated Netherlands online market is highly attractive and fast-growing across both sports betting and gaming.
Since its licensing in October 2021, BetCity has delivered rapid growth, establishing a position with...
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