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Entain: Completion of the acquisition of BetCity in the Netherlands
Entain plc, the leading global sports betting, gaming and interactive entertainment group, is pleased to announce the completion of the acquisition of BetEnt B.V., which trades under the BetCity.nl name.
BetCity is one of the Netherlands’ leading licensed operators in the newly regulated online sports betting and gaming market. Since its licencing in October 2021, BetCity continues to deliver strong growth, maintaining its established leading share of approximately 20%1 of this attractive fast-growing market.
Jette Nygaard-Andersen, CEO of Entain, comments:
“We are pleased to have completed the acquisition of BetCity. The combination of BetCity’s local expertise and strong brand, alongside Entain’s global scale and market-leading platform provides customers with an enriched and broader offering of engaging products, fresh content and new experiences.
This transaction further underpins our growth strategy of operating in, and expanding further into, attractive regulated markets. We look forward to working with Melvin and the BetCity team as we execute on the significant opportunities in the Dutch market.”
As announced on 14 June 2022, the consideration structure is as follows:
- Initial consideration of €300m (approximately £266m2) paid on completion. A balancing payment will be paid once BetCity’s financial performance for 2022 is confirmed;
- 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 £44m2) will be paid on delivery of synergies and successful migration to the Entain Platform;
The total consideration payable, on current expectations, is €450m (approximately £399m2). However, dependent on the performance of BetCity, the maximum consideration is capped at €850m (approximately £753m2). The combination is expected to deliver approximately €28m (approximately £25m2) of cost synergies, predominantly from technology, content and royalty benefits, by the end of 2026.
The initial consideration has been funded from the proceeds of the Group’s re-financing announced on 19 October 2022 and existing cash resources.
Central Europe
IGT Modernizes Central Lottery System for LOTTO Thüringen in Germany via Seven-Year Contract Extension
International Game Technology PLC announced that its subsidiary, IGT Global Services Limited, has signed a seven-year contract with the Thuringian State Lottery (“LOTTO Thüringen”) in Germany to deploy its retail central system technology, Aurora™, and related software upgrades. The contract term will begin upon go-live of the new platform, planned for March 2026.
An integral part of OMNIA™, IGT’s player-centric, omnichannel solution for lotteries, Aurora helps drive lottery innovation and profitability. The platform will provide intuitive, user-friendly applications, tools and reporting capabilities which will handle all of LOTTO Thüringen’s transaction processing, game management and back-office operations.
“LOTTO Thüringen has relied on IGT’s versatile and strong-performing central system technology throughout the course of our decades-long relationship,” said Jochen Staschewski, LOTTO Thüringen Chief Executive Officer. “Upgrading our central retail system to IGT’s advanced platform and back-end software will enable us to streamline our business processes and continue operating with the highest levels of efficiency.”
“IGT’s retail central system incorporates a suite of flexible solutions designed to help manage, transform and further grow LOTTO Thüringen’s business,” said Jay Gendron, IGT Chief Operating Officer, Global Lottery. “With this long-term contract extension, LOTTO Thüringen is well-positioned to continue benefiting from IGT’s secure, responsible and modernized technology and software. Leveraging these best-in-class solutions will aid in the Lottery’s goals of supporting good causes throughout the state.”
The post IGT Modernizes Central Lottery System for LOTTO Thüringen in Germany via Seven-Year Contract Extension appeared first on European Gaming Industry News.
Incentive Games, a leading B2B games provider, today announced the launch of its new crash game, Velocity, with bet365 in Brazil.
This marks a significant milestone for Incentive Games as it represents their first Pay-to-Play Crash game developed in partnership with bet365. The bespoke game has been meticulously designed by Incentive Games’ expert developers to ensure maximum player engagement.
Seamlessly integrated with bet365’s platform, the game leverages the expertise of Incentive Labs – a powerhouse of data and AI specialists. The Incentive Labs team will continuously analyse player interactions to refine the game and deliver an ever-evolving experience, turning millions of user touchpoints into unique solutions that enhance player satisfaction.
John Gordon, CEO of Incentive Games, said, “While the market is saturated with crash games, Velocity stands out from the crowd. It is the first in a series of exciting crash game offerings and we’re so proud to be launching this groundbreaking game with bet365. With their global reach, there’s no better partner to introduce ‘Velocity’ to the Brazilian market.”
A bet365 spokesperson said of the launch, “We’re delighted to yet again partner with Incentive Games in what promises to be an amazing gaming experience for our players.”
The post INCENTIVE GAMES LAUNCHES CRASH GAME WITH BET365 IN BRAZIL appeared first on Gaming and Gambling Industry in the Americas.
The new title from leading Spanish e-Gaming provider MGA Games is an innovative game with a truly original theme: a journey through carnival festivities filled with legendary creatures. Its design combines the excitement of street parties with the richness of mythological creatures from around the world, providing a totally unique experience.
This new casino slot features 25 paylines, with winning combinations paid from left to right. By landing 3 or more Scatter symbols, players gain access to the Free Spins screen, which includes an innovative prize system. Players can enjoy an accumulator feature and a final Super Respin spin that awards the accumulated winnings. It also includes Money and Collect symbols, which when combined offer an additional bonus prize.
Global Audience
By showcasing mythologies from all over the world, the game is set to appeal to a global audience, enhancing its market potential and attracting players from various countries. Its visual and auditory elements, featuring vibrant graphics and immersive music, will captivate players and deliver a fully immersive experience in a fantastic world.
In this new release, every spin of the reels will surprise players with its themed symbols. As if that weren’t enough, the game features an optional Buy Free Spins button, speeding up the path to big rewards. Mythical Legends Carnival will be available in all of Spain’s best online casinos starting February 3rd and across .com markets from January 27th.
The post Prepare to be Amazed in Mythical Legends Carnival, a Mythic Video Slot! appeared first on European Gaming Industry News.
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