Entain acquires BetCity
June 15, 2022
Entain has agreed to acquire the entire share capital of BetEnt B.V., which trades under BetCity name, from Sports Entertainment Media B.V. The Company, which received an online sports betting and gaming license from the Kansspelautoriteit (KSA) in October 2021, is one of the Netherlands’ leading online sports betting and gaming operators. The acquisition is expected to complete during the second half of 2022.
Since its licensing in the Netherlands in October 2021, BetCity has delivered rapid growth, establishing a leading position with approximately 20% 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 as BetCity’s offering is highly complementary to Entain’s bwin and Party brands which are awaiting approval for a license to operate in the Netherlands “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, said Jette Nygaard-Andersen, CEO of Entain.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, BetCity’s CEO, who will remain with the Company added: “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.”