Entain plc, the giant of sports betting and gambling, Confirm that you want to complete the acquisition of Betcity.
The main reason for this acquisition, as we will see in this article by our sector experts, is that The group wants to complement the offer of its parties and Bwin brands.
But let's go see the Details of this acquisition in the next paragraphs.
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Entain and Betcity: what are they?
Entertainment Picture T Both famous companies in the world of gambling and online bets.
The first, or Entain does not require many presentations, is listed on the London stock exchange and was previously known as GVC Holdings.
BetCity, on the other hand, is owned by the Betten brand, It operates in the world of online sports betting and is one of the main brands in the Netherlands.
The details of the acquisition
Entain confirms the acquisition of Betcity who It should be completed in the second half of 2022.
The maximum amount established for this agreement is of 850 million $, but according to current forecasts, Entain should pay a figure of $ 450 million.
The giant of betting and online game said that He will pay this figure in part with the funds he is in possession of, and in part with credit funds using the Revolving method.
Entain will begin by paying Betcity $ 300 million in cash upon completion of the acquisition e The remaining figure will be a deferred contingent fee.
The statements about Entain and Betcity
On Entain and Betcity have released statements The leaders of both companies.
Jette Nygaard-Andersen, L 'CEO recently appointed to Entain, he said: “SWe are pleased that Betcity will become part of Entain And we are enthusiastic about the significant opportunities offered by the new Dutch regulated market ".
And then added: “This acquisition It will offer customers an even better experience, as we will combine the local experience and the Betcity brand with the Etain platform, market leaders and focused on the customer. This transaction It further supports our growth strategy, which consists in operating in interesting regulated markets. We can't wait to work with Melvin and the Betcity team. "
while Melvin Bostelaar, CEO of Betucity said: “We are happy to join forces with a world -class group like Entain. Together we will be able to maintain a strong position in the Dutch market in the next years".
“The leading market platform, technology, established brands and the global scale of Entain represent one Fantastic opportunity to expand and enrich our offer to customers”.
“Both Betcity and Entain put the customer in the center of everything they do. Entain's fundamental values and philosophy in the field of responsible game, compliance and corporate culture are perfectly aligned with those of Betcity. We hope a bright future together.”, He concluded by saying Bostelaar.
