Entain has agreed to acquire the entire share capital of BetEnt, which trades under the BetCity.nl name, from Sports Entertainment Media in a deal worth up to €850m.
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, 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 per cent 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.
