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Entain plc Acquisition of BetCity, one of the Netherlands’ leading online sports betting and gaming operators
Entain plc, the leading global sports betting, gaming and interactive entertainment group , announces that it has agreed to acquire the entire share capital of BetEnt B.V., which trades under the BetCity.nl name (“BetCity” or the “Company”), from Sports Entertainment Media B.V. for an initial consideration of €300m (approximately £257m1) and deferred contingent consideration of up to €550m (approximately £472m1).
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 (Kansspelautoriteit), 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%2 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.
Consideration structure:
- Initial consideration of €300m (approximately £257m1) is payable in cash at completion, with a balancing payment to be paid in early 2023 based on the actual performance of BetCity in the financial year 2022;
- A further contingent payment will be paid in early 2024, based on 10x BetCity’s EBITDA for the financial year 2023, less amounts already paid out;
- In addition, a final contingent payment of €50m (approximately £43m1) will be paid on delivery of synergies and successful migration to the Entain Platform;
The total consideration payable on current expectations is €450m (approximately £386m1). However, dependent on the performance of BetCity, the maximum consideration is capped at €850m (approximately £729m1). The combination is expected to deliver approximately €28m (approximately £24m1) of cost synergies, predominantly from technology, content and royalty benefits, by the end of 2026.
The initial consideration will be funded from existing cash resources and drawings on the Group’s revolving credit facility.
The acquisition is expected to complete during H2 2022.
Jette Nygaard-Andersen, CEO of Entain, comments:
“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. 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, CEO of BetCity, comments:
“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.”
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How to survive a crisis? Slotegrator’s tips on business continuity and disaster recovery
In pursuit of online casino success, operators do their best to provide players with the most interesting products and services, promote their business, analyze the revenue, grow traffic, and implement many other business development methods. Operators create marketing and plans to follow. However there is another important plan we often ignore — business continuity plan.
The iGaming business is vulnerable: it’s usually a large-scale venture, the risks are huge, and the number of potential threats is high. Starting from legal risks if the regulation changes or the market closes, to the cyber attack risks due to lack of security measures. Almost anything can go wrong and ruin a business that was built for years and took a lot of investment.
Slotegrator released a downloadable material describing what can potentially go wrong and how to make your business ready for it. Having a plan is crucial in this matter because improvising when an emergency occurs is a bad idea. What will you do if your regulator bans all forms of gambling advertising? Who will be responsible if the platform fails and the online casino stops functioning properly? How will you analyze the huge amount of data from your platform to detect a mistake? There must be a specific and very detailed plan of actions. Every minute of not accepting payments or not registering new players is an enormous loss for a casino operator, that’s why it’s so important to have your business continuously working without interruptions.
Some problems that may look less serious can cause big difficulties for businesses as well. For instance, Slotegrator talked to William Sarto, PR & Marketing Specialist at CasinoRIX, and got a few tips to help safeguard business during Google’s regular updates. Sarto points out several key advice: “Don’t rely on just one GEO; make sure you’re running projects across multiple countries. Don’t stick to just one vertical. For example, run projects in both the casino and betting sectors. This way, if one gets hit, you’ll have others to offset the impact.
Use a variety of strategies to promote your projects. If one takes a hit, others can grow or stay steady, giving you time to bounce back. Don’t rely solely on SEO for traffic—explore other channels to diversify your sources.”
Having said that, business continuity solution includes two main strategies. The first is to try to prevent the crisis and make your business less vulnerable to external events, and the second is a plan of actions to deal with a crisis and return to normal operation after it passes.
“We all know that being aware of potential risks is already a first step in preventing them. Problems that business face are various, especially in the iGaming industry, but knowing what can happen, learning from experiences gained before, and having a recovery plan can save many starting companies,” says Svetlana Kirichenko, Head of Marketing at Slotegrator.
Learn more about business continuity and disaster recovery from a new material from Slotegrator and contact their team in case of additional questions.
The post How to survive a crisis? Slotegrator’s tips on business continuity and disaster recovery appeared first on European Gaming Industry News.
Xsolla, a global video game commerce company, is excited to announce its collaboration with AbleGamers for an impactful charity campaign at TwitchCon 2024. This partnership aims to further AbleGamers’ mission of improving accessibility in gaming for individuals with disabilities through an interactive and meaningful activation.
Attendees who visit the Xsolla booth (Booth 1515-SW) at TwitchCon will have the exclusive opportunity to claim one of two specially designed charity pins. By sharing a photo of their pin on their social channels on Instagram, Facebook, or Twitter using the hashtags #LightstreamAble and #XsollaAble, participants will help raise funds for AbleGamers. For every qualifying social post, Xsolla and its partners will donate $5 to AbleGamers, up to $10,000. To amplify awareness, include hashtags: #TwitchCon #BongoCat #Lightstream #Xsolla #SoEveryoneCanGame.
“We’re thrilled to partner with AbleGamers at TwitchCon 2024 to support their mission of making gaming more accessible for everyone. By engaging with our booth and sharing their experiences online, attendees collect a unique piece of Xsolla and Lightstream memorabilia and contribute directly to the gaming community. It’s an incredible opportunity to connect the gaming community with a cause that promotes inclusivity and empowerment,” said Berkley Egenes, Chief Marketing & Growth Officer at Xsolla.
2,000 pins will be distributed—1,000 featuring the iconic Xsolla Cat design and 1,000 co-designed with Lightstream. These limited-edition pins will be available only at the Xsolla booth on a first-come, first-served basis.
How Your Participation Makes a Difference:
- Peer Counseling: AbleGamers offers personalized guidance to assess player needs and provide optimal solutions for inclusive gaming
- Engineering Research: The organization supports the development of assistive technologies that remove barriers for gamers with disabilities
- Community & Inclusion: AbleGamers combats social isolation by fostering opportunities for camaraderie and lifelong friendships within the gaming community
By participating in this campaign, you’ll collect a unique pin and help fund critical resources and support for gamers with disabilities.
Industry-leading social media marketing agency SGG Media is thrilled to announce an exciting new collaboration with the prominent Canadian online casino PlayOJO.
Under the new agreement, SGG Media is set to become PlayOJO’s exclusive provider of live-action casino shows. Leveraging SGG Media’s extensive network of over 2,500 sports and casino influencers, these shows will stream thrilling casino experiences directly to PlayOJO players. Viewers will have the opportunity to interact with the streamers and place bets while witnessing all the exciting live casino action offered by PlayOJO.
Following the live shows, SGG Media will create and share short video highlights of the most captivating moments from the games across various social media platforms, engaging with SGG’s combined following of over 75 million fans. This is the third largest database of sports social media followers, a huge portion of whom have crossover potential and interest In the online casino industry.
The marketing agency has achieved significant success with its casino streams in 2024. They launched their groundbreaking ‘Casino Stream’ show in February. This innovative show offers nightly live-action casino games, providing viewers with an immersive experience in the fast-paced world of roulette, blackjack, slots, and other online games.
PlayOJO is one of the most popular legal online casinos in Ontario. The casino collaborates with major developers and content providers in the industry, offering a distinctive and enjoyable online casino experience to Ontarian’s, all of which will be highlighted as a result of this deal. “We’re thrilled to partner with the SGG team as we introduce our live casino shows in Canada. This unique live show experience will highlight PlayOJO’s best-in-class online casino, featuring slots, live casino, and table games, truly demonstrating why PlayOJO is the home of feel-good fun!”, says the PlayOJO Team.
SGG Media and PlayOJO are dedicated to ensuring a fun and safe online casino environment for players. Both parties will display clear responsible gambling messages throughout the streams, helping to inform players to gamble legally and responsibly.
Speaking about this commitment to responsible gambling, Troy Paul, CEO of SGG Media, said, “We want to create a fun and exciting show, but also make sure viewers know this is a legal casino and players need to wager only money they can afford to lose as entertainment.”
On the deal, Paul said: “We are extremely excited to begin working alongside PlayOJO. It is a brand that wants to drive innovation in the industry, sharing our vision for a more community-driven online casino experience.”
Through our streams, our micro-influencers and content creators will help shine a spotlight on PlayOJO’s fantastic gaming experiences while also growing a community that will want to return for more.
This extends beyond the streams, with our huge network of micro-influencers sharing video content across their platforms, ensuring engagement continues after the stream goes off the air.”
How to survive a crisis? Slotegrator’s tips on business continuity and disaster recovery
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