A multi-million-dollar deal was announced in the online betting world this week, after Entain agreed to purchase the Dutch-based online sports betting group, BetEnt BV.
A total purchase price of $885 million was agreed. If all goes according to plan, the deal is expected to be finalized by the second half of this year.
Entain will pay $312 million up front for BetEnt, which trades under its BetCity brand.
The rest of the money is due before the end of next year.
A final contingent payment will be paid to current owner, Sports Media Entertainment, in 2024.
Foot into Dutch Sports aBetting Market
Entain’s reach spreads across the world, with a business worth over $12 billion. Nevertheless, the company has been eying an entry into the fast-growing sports betting market in the Netherlands and the latest deal to acquire BetCity is exactly what it needs to do so.
BetCity has a license to operate in the newly legalized sports betting industry in the Netherlands, and this license will now be owned by Entain.
Eantain Brands
Some of the most popular gambling brands in the world fall under the Entain umbrella.
These include:
- Bwin
- Ladbrokes
- Coral
- SportingBet
- BetBoo
- GameBookers
- CrystalBet
- EuroBet
- BetMGM
- Borgata
- PartyPoker
- PartyCasino
- Gala Bingo
- FoxyBingo
- OptiBet