In an effort to further boost its already impressive portfolio, UK-based sports betting firm Entain has moved to acquire BetCity. According to the detailed press release, this deal could be worth a maximum of €850 million, based on ongoing payments calculated according to BetCity’s post-acquisition performance. There’s an initial payment of €300 million to be considered, and once the deal is completed, Entain will own BetCity, one of the leading betting platforms in the Netherlands, in full.
This deal will enable Entain to push deeper into the ‘newly regulated’ Dutch betting market, broadening what is essentially an already global reach for the firm. Recently, Entain has been expanding rapidly, taking advantage of an ever-growing betting industry and tactically pushing into new territories, technologies, and partnerships.
Read on to catch the full breakdown of this massive deal between Entain and BetCity.
A Bright Future, Together
Once this deal has been completed, BetCity, a relatively young betting platform, will be bought out from Sports Entertainment Media, the current owner. It was only in 2021 that BetCity acquired its licensure in the Netherlands, but it has already risen rapidly to become a market leader in the region. It’s estimated that during the fourth quarter of 2021, BetCity secured a 20% market share in the fast-growing Dutch region.
While this deal will permit Entain immediate access to the Dutch betting markets, there are already pending licenses in play for bwin, another betting platform owned by Entain. In the last few years, Entain has gone from strength to strength, growing across all markets, including virtual sports and esports betting. This remarkable growth has been praised by many, including the CEO of BetCity, Melvin Bostelaar:
We are happy to be joining forces with a world-class group in Entain. Together we will be well-placed to maintain a strong market position in the Dutch market for the coming years. Entain’s market leading platform, technology, established brands and global scale provides a fantastic opportunity to expand and enrich our customer offering. Both BetCity and Entain position the customer at the heart of everything we do, with Entain’s core values and philosophy in responsible gaming, compliance and company-culture seamlessly aligning with those of BetCity. We look forward to a bright future together.
Last year, in 2021, Entain’s growth caught the eye of DraftKings, and for a while, an eye-watering acquisition deal was on the table worth $22.4 billion. While the DraftKings deal collapsed, it by no means impacted Entain’s constant expansion efforts. In a bid to become an industry leader in more ways than just one, Entain also moved to publish an insightful report in February of 2022. In this comprehensive Entain study, key data was revealed regarding links between gamers and betting firms.
With an ever-growing list of acquisitions and partnerships sitting at the heart of Entain’s growth, it seems unlikely that the train will slow at any point in the near future.