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Entain plc Acquisition of BetCity, one of the Netherlands’ leading online sports betting and gaming operators

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Entain plc Acquisition of BetCity, one of the Netherlands’ leading online sports betting and gaming operators
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Entain plc, the leading global sports betting, gaming and interactive entertainment group , announces that it has agreed to acquire the entire share capital of BetEnt B.V., which trades under the BetCity.nl name (“BetCity” or the “Company”), from Sports Entertainment Media B.V. for an initial consideration of €300m (approximately £257m1) and deferred contingent consideration of up to €550m (approximately £472m1).

BetCity is one of the Netherlands’ leading online sports betting and gaming operators. Headquartered in Amsterdam, BetCity received an online sports betting and gaming licence from the KSA (Kansspelautoriteit), the Dutch Gaming and Gambling Authority, in October 2021.

The newly regulated Netherlands online market is highly attractive and fast-growing across both sports betting and gaming.  Since its licensing in October 2021, BetCity has delivered rapid growth, establishing a leading position with approximately 20%2 market share during the fourth quarter of 2021.  This acquisition will create a strong market operator with significant growth opportunities, in line with the Group’s strategy.

BetCity’s offering is highly complementary to Entain’s bwin and Party brands which are awaiting approval for a licence to operate in the Netherlands – now expected during the latter part of this year as the KSA has recently requested additional documentation as part of the ongoing application process.  The combination of BetCity’s local expertise, strong brand and large diverse user-base, with Entain’s global scale and market-leading platform will provide customers with a broader offering of engaging products, fresh content and new experiences.

Melvin Bostelaar, BetCity’s CEO, along with other key members of the leadership team, will remain with the Company.

Consideration structure:

  • Initial consideration of €300m (approximately £257m1) is payable in cash at completion, with a balancing payment to be paid in early 2023 based on the actual performance of BetCity in the financial year 2022;
  • A further contingent payment will be paid in early 2024, based on 10x BetCity’s EBITDA for the financial year 2023, less amounts already paid out;
  • In addition, a final contingent payment of €50m (approximately £43m1) will be paid on delivery of synergies and successful migration to the Entain Platform;

The total consideration payable on current expectations is €450m (approximately £386m1).  However, dependent on the performance of BetCity, the maximum consideration is capped at €850m (approximately £729m1).  The combination is expected to deliver approximately €28m (approximately £24m1) of cost synergies, predominantly from technology, content and royalty benefits, by the end of 2026.

The initial consideration will be funded from existing cash resources and drawings on the Group’s revolving credit facility.

The acquisition is expected to complete during H2 2022.

Jette Nygaard-Andersen, CEO of Entain, comments:

“We are delighted that BetCity is joining Entain and are excited by the significant opportunities in the newly regulated Dutch market.  This acquisition will provide customers with an even better experience as we combine BetCity’s local expertise and brand alongside Entain’s market leading, customer focused platform.  This transaction further underpins our growth strategy of operating in attractive regulated markets. We look forward to working with Melvin and the BetCity team.”

Melvin Bostelaar, CEO of BetCity, comments:

“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.”

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BGaming Presents Its New Eastern-Themed Slot with 4 Jackpot Levels

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BGaming Presents Its New Eastern-Themed Slot with 4 Jackpot Levels
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BGaming, a fast-growing content provider to the iGaming industry, goes live with its new slot Maneki 88 Gold, packed with Asian-inspired symbols, all-the-rage features, and 4 Jackpot levels.

Maneki 88 Gold is the Asian-themed online slot with medium volatility and 96.9% RTP playing out on a 5-reel, a 3-row field with 243 ways to win.

Magnificent lotus flowers, charming music, and the magic allure of Asian symbolics coincide with the magnificent features of the slot. At the player’s option, the high-paying animal symbols turn into Golden ones, increasing the bet and opening an opportunity for the Jackpot round to be triggered. When at least one golden symbol is activated, and a player collects 12 coins during the main game, every next coin can trigger a jackpot round. The level of available Jackpot depends on the number of golden symbols activated in the main game: a player should activate 2 golden symbols to be able to hit the mini Jackpot; 3, 4, and 5 activated golden symbols can reward a player with minor, major and grand Jackpot accordingly, which increases the bet level and makes the game more risky and exciting.

The slot offers a Buy Bonus feature, meaning a player can buy a round of Free Spins any time during the main game.

Yulia Aliakseyeva, Game Producer at BGaming, commented: “Same as the Japanese Maneki-Neko cat brings luck, our Maneki 88 Gold meets players with exciting features making their way to riches easier. HD graphics, quality features, and multilevel Jackpot with potential to deliver explosive outcomes will undoubtedly attract the players’ attention, making the experience even more engaging.” 

The Maneki 88 Gold follows the launch of the recent ‘hold and win’ slot Miss Cherry Fruits Jackpot Party, which enlarged the collection of over 90 titles in BGaming’s high-quality games portfolio. The slot is already available to players of Mbit Сasino and online casino 7bitcasino.com

 

BGaming is a fast-growing game provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 700+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 90+ products with HD graphics and a clear user interface for every device.

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BETVICTOR GROUP ANNOUNCES BRAND PARTNERSHIP WITH TALKSPORT

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BETVICTOR GROUP ANNOUNCES BRAND PARTNERSHIP WITH TALKSPORT
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talkSPORT BET to combine BetVictor’s technology with talkSPORT’s trusted editorial brand

BetVictor is partnering with talkSPORT, the world’s biggest sports radio station and global audio rights holders of the Premier League, for a new UK sports betting brand, talkSPORT BET.

talkSPORT BET will bring together talkSPORT’s trusted editorial brand with BetVictor’s market-leading, proprietary sports betting software and proven operational capabilities.   The service will offer sports fans a range of exciting features, innovative promotions and exclusive offers.

In addition to the long-established BetVictor B2C brand, the new partnership with talkSPORT is the latest white-label deal for the group and aligns with its overall business growth strategy, following on from the successful launches of Parimatch, BildBet and Heart Bingo.

The talkSPORT BET brand will be featured alongside talkSPORT’s existing bookmaker commercial relationships such as show sponsorships, advertising and affiliate partnerships.

CCO of the BetVictor Group Brent Almeida commented: “We’re delighted to be partnering with such a well-respected sports brand. talkSPORT BET will take the great things about talkSPORT radio and add a betting experience to offer players more ways to enjoy sport and engage with their favourite sporting events. We are fully committed to creating a safe and entertaining gambling experience with everything a sports fan could want in a betting brand.”

Gareth Williams, Betting and Gaming Director, talkSPORT, said: “talkSPORT is the world’s biggest sports radio station with a loyal community of listeners. This partnership showcases the power and reach of the talkSPORT brand across its audio and digital properties.   As well as the potential for on-air commercial partnerships, talkSPORT BET will be able to access our digital audiences through creative online activations such as odds integrations and betting widgets.”

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BWF AND OFFICIAL BETTING PARTNER, M88 MANSION, IN JAPAN FOR THE FIRST TIME

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BWF AND OFFICIAL BETTING PARTNER, M88 MANSION, IN JAPAN FOR THE FIRST TIME
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BWF, together with major sponsor M88 Mansion, will be holding the TotalEnergies BWF World Championships 2022 in Japan on August 22-28.

This is the first time the east Asian country will host the competition, and the fifth Asian nation to do so. Matches will be played at the Tokyo Metropolitan Gymnasium.

Over 300 competitors from more than 40 countries will slug it out to emerge as the best in five events, with the host and last year’s overall winner taking the lead.

Reigning champions for each category are: Loh Kean Yew of Singapore (men’s singles), Yamaguchi Akane of Japan (women’s singles), Hoki Takurō and Kobayashi Yūgo of Japan (men’s doubles), Chen Qingchen and Jia Yifan of China (women’s doubles), as well as Dechapol Puavaranukroh and Sapsiree Taerattanachai of Thailand (mixed doubles).

The draw was held on August 10 in Kuala Lumpur, Malaysia, producing interesting brackets.

Men’s singles world number one Viktor Axelsen is set on a collision course with fellow Dane Rasmus Gemke in the quarter-finals, while Indonesians Jonatan Christie and Anthony Ginting are also both on the top half of the bracket and could possibly meet in the semis.

Over in women’s singles, top seed Yamaguchi and 14th-ranked Takahashi Sayaka can tentatively clash on the third round, with An Se-young of South Korea and PV Sindhu of India as probable semi-final round opponents.

Hoki and Kobayashi journey back to the top have them starting in the bottom half of the bracket, with the more thrilling matchups found in the upper half of the draw. Chen and Jia also averted some early tough challenges in their section.

Finally, Puavaranukroh and Taerattanachai could feasibly contend against two Japanese pairs en route to the final.

The BWF World Championships follow the single elimination knockout format.

As part of the partnership between M88 Mansion and BWF, updates and highlights will be provided on the M88 Mansion-BWF website and social media accounts before, during, and after the event. A top BWF player will also be featured and interviewed.

First organized in 1977, the tourney has been held annually, except for Summer Olympic years, since 2005. It was last staged in 2021 in Huelva, Spain.

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