Entain completes BetCity buyout in the Netherlands

Entain has announced the completion of the acquisition of the BetCity.nl brand and IP through the purchase of BetEnt BV, a deal estimated at €450m and negotiated in 2022. The finalization of the agreement gives the entertainment giant a significant presence in the regulated iGaming and sports betting markets in the Netherlands.

BetCity has been one of the best-performing brands in the jurisdiction, making it an attractive target for companies looking to make up for the loss of momentum in the market. The askance price Entain agreed to demonstrates BetCity’s potential and market strength.

BetCity has also been able to continuously increase its financial performance and presence in the market, attracting customers and navigating with surety in a tightly regulated and demanding jurisdiction.

Entain CEO Jette Nygaard-Andersen welcomed the deal’s completion and said that the asset was an important addition to the company’s global gaming and betting portfolio. She further hailed BetCity’s local expertise and market significance, expressing confidence that the combined expertise between BetCity and Entain will lead to even more meaningful results.

"We look forward to working with Melvin and the BetCity team as we execute on the significant opportunities in the Dutch market," Nygaard-Andersen noted. While the deal is sealed at €450m there are further considerations that can move the price tag.

For one, Entain could pay a maximum consideration of up to €850m depending on how well the BetCity brand performs in the Dutch gaming market through 2026. The deal was announced in June, and fleshed out over the coming months with not much changing.

Regulatory approval was swift and Entain’s confidence in the market and the brand remained unshaken over the period. The companies are confident that their combined expertise and knowledge will bring even better experiences for local players.

In the meantime, Entain has definitely been busy on its own. The company announced that it is launching with Greentube in Ontario, and namely through the PartyCasino, Bwin, and BetMGM brands. Entain also relaunched Unikrn recently, marking the company’s commitment to the esports segment in a largely-anticipated and praised move.

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