Entain acquires Betcity in €850m deal

$22.4bn bid for Entain underlines value of British online gambling  expertise | Business | The Guardian

UK-based gambling giant, Entain has reached an agreement to acquire Dutch sports betting brand BetCity, in a deal worth up to €850m.

Entain’s initial package being is worth €300m, with a deferred consideration of up to €550m based on contingents.

Based on current expectations, the total amount payable is worth €450m and the deal is expected to close during the second half of 2022.

BetCity chief executive Melvin Bostelaar will remain with the company following the takeover, as well as other key members of the betting firm’s management team.

Amsterdam-based BetCity claims to be one of the Netherlands’ largest betting operators, having received a license from the Dutch gambling body in October last year.

The deal will see BetCity tap into Entain’s global platform to offer an expanded range of products, as well as new content and experiences for users.

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