Entain Spends $482 Million to be the New Owners of BetCity
BetCity used to be a part of Sports Entertainment Media, but not anymore!
Entain is one of the top sports betting and gaming groups and is looking to expand. Entain wants to gain access to the Netherlands and its gaming market. BetClic is a high-profit online casino and popular sports betting online establishment. It rose to fame as an operator in 2021 and achieved a 20% market share. BetClic, which operates the platform, has one of the ten original licenses in the Netherlands.
BetCity used to be with Sports Entertainment Media, but that has now changed. Negations for ownership of BetCity started at more than $300 million, and with the corporate advisory
specialist Partis, could go up to nearly $1000 million. This all depended on how BetCity
continued to do and perform.
At one-point Entain’s lacked the mandatory licenses, and this kept them from tackling the
market. Entain’s brands were stuck without process due to a pause in distributing licenses for
two years, caused by a national cool-off period. The cool-off period for licenses was made by the Dutch Gaming Authority in 2019.
Players are told there will be lots of new content and brand-new games to come. They can expect all new experiences and opportunities with the new platform. The new platform will bring a combination of BetCity’s domestic power and unique expertise for players, combined with Entain’s identity worldwide and excited spirit.
Nygaar-Andersen said they are very excited about the opportunity to work with BetCity’s co-
founder Melvin. Melvin is the chief executive of the company, and his goal is to expand BetCity with the new access granted by this prosperous market opportunity. 1×2 Network announced last October that it would be rolling out games with BetCity.nl station.
References:
https://www.gamblingnews.com/news/entain-snatches-betcity-from-sports-entertainment-media-
for-482m/
