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Entain expands into Dutch Market with BetCity acquisition

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Read all about the BetCity acquisition by Entain as the company works to expand its reach into the exciting Dutch casino market.

The online casino and sports betting industry are continuously growing and expanding into new markets across the globe.

Entain PLC is a leading entertainment group that will be expanding in its own right thanks to a recent acquisition.

The acquisition of BetCity Casino will give Entain access to one of the leading online sports betting and casino gaming in the Netherlands.

BetCity acquisition

Entain PLC is planning to expand into the Dutch market by acquiring BetCity.nl. They are planning to acquire the latter from Sports Entertainment Media B.V. for about €300m.

BetCity is one of the leading sports betting sites and top casinos available in the Netherlands. It is located in Amsterdam, with licensing received from the Kansspelautoriteit, the Dutch Gaming and Gambling Authority in 2021.

A primary reason for the interest in BetCity is its offering complementary to that of Entain’s own Bwin and Party brands.

Currently, the company is awaiting regulatory approval for these brands to operate within the Netherlands.

The Netherlands’ online gaming market is still new and quickly growing. BetCity is a popular brand that delivers rapid growth with its position quickly established as a leader in the industry. The acquisition will create a strong market operator and allow for significant growth opportunities.

According to the teams, despite the many changes leading members of BetCity will remain at the company after the acquisition. This includes the BetCity CEO, Melvin Bostelaar, along with other key members in leadership.

According to the agreement, Entain will initially pay €300m (£257m/$313m) in cash upon completion of the deal. The deal also includes deferred contingent consideration of up to €550m. The balancing payment will be expected in early 2023 based on the performance of BetCity throughout the 2022 financial year.

And another contingent payment will be due in early 2024 based on 10x BetCity’s EBITDA for the financial year minus what has already been paid. There is a total consideration payable of about €450m, but it can be more depending on the performance of BetCity. The total payout expected is capped at €850 million.

What the CEOs have to say

The Entain CEO Jette Nygaard-Anderson shares their delight in having BetCity join Entain. The CEO states that excitement is high for the many opportunities it brings in the newly regulated Dutch Market.

Nygaard-Anderson is confident that users will have an even better experience as they combine the local experience of BetCity with the market-leading experience of Entain. Furthermore, the CEO reminds us how the transaction underpins the growth of strategy to operate n regulated markets.

The BetCity CEO, Melvin Bostelaar, is just as happy to be joining forces with an industry-leading company, Entain.

Bostelaar believes that together they will be able to maintain a strong market position in the Dutch market for the years to come.

Entain’s market-leading platform, technology-established brands, and global scale provide the opportunity to expand and enrich the local offering.

The partnership is ideal in more ways than one, as both companies put the customer first. Entain’s core values and philosophy of responsible gaming, compliance, and company culture align with BetCity. With values aligning and the opportunity to gain experience in the offering in a promising new market, there is plenty for Dutch players to look forward to.

Published: July 3, 2022

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Article by Stelly

CasinoWow Contributor

Hey there! I am Stelly, and happily, I'm part of CasinoWow's content team. It excites me to be able to write and share with all gambling enthusiasts unbiased reviews and news that contribute to the gambling community and industry. Thankfully, I also have the chance to help you make an informed choice for casino brands and games, as well as provide interesting guides and news.

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