Betcity is being acquired by Entain for approximately €300 million. British gambling company Entain is acquiring the entire share capital of its parent company, BetEnt. Both parties have confirmed the news. This is the first time a Dutch online casino has been acquired.
Whether the acquisition price will actually remain at €300 million is not yet certain. It could increase. This depends entirely on Betcity’s success in 2023. The final amount Entain will have to pay for the Betcity acquisition is expected to be €450 million. The acquisition price could reach up to €850 million. The deal is expected to be completed in the second half of 2022.
Melvin Bostelaar, CEO of Betcity, said the following about the acquisition:
“We are delighted to join forces with Entain, a world-class group. Together, we are well-positioned to maintain a strong market position in the Dutch market for years to come. Entain’s market-leading platform, technology, renowned brands, and global scale offer a tremendous opportunity to expand and broaden our customer offering.”
Entain in the Netherlands
Last September, Entain announced it would be leaving the Dutch online gambling market because it did not yet have a license from the Netherlands Gambling Authority (Kansspelautoriteit). However, the company stated that the departure would be temporary. Entain is currently still applying for a license from the KSA. Whether the acquisition of Betcity will change this is not yet known. Entain’s brands include PartyPoker, Bwin, and PartyCasino.