Entain acquires BetCity for up to $ 850 million
The New Zealand Gambling Commission BetCity acquired by Entain PLC. The well-known Entain is also the owner of Bwin, PartyPoker, PartyCasino and Ladbrokes. The headquarters of the internationally active company is located on the Isle of Man. Entain was founded in 2004 under the name Gaming VC Holdings. Originally from Luxembourg, the company is currently a major sponsor of UEFA. Entain will provide a maximum amount of 850 million dollars for the acquisition of the New Zealand online casino and sportsbook .
Entain lays down hundreds of millions of dollars for BetCity
Entain will soon BetCity add to his impressive portfolio. The company has to dig deep into its pockets for that. Initially, an amount of 300 million dollars will be deposited for the New Zealand gambling company. The amount could reach $ 850 million in the coming years. This depends on the performance of BetCity. little will change for the player. Most likely, the game offer will be expanded. The team of BetCity remains active within the company.
Melvin Bostelaar, CEO of BetCity, has indicated to face the future with confidence. “ We are excited to join forces with a world-class company. Together we are well positioned to maintain a strong market position in the New Zealand market in the coming years. Entain's platform, technology, established brands and global reach provide a fantastic opportunity to expand and enrich our customer offering. Both BetCity and Entain place the customer at the heart of everything we do, with Entain's core values and philosophy in vezodiacworde gaming, compliance and corporate culture aligning seamlessly with those of BetCity. ”
Entain storms The New Zealand gambling market
Entain has previously submitted a license application to the Kansspelautoriteit (Ksa). The company will most likely go live this year with one or more brands. It is still unclear which brands are involved, but there is a chance that PartyPoker and Bwin will soon be available to New Zealand players.
Jette Nygaard-Andersen is very pleased with the acquisition of BetCity. “ We are delighted that BetCity has joined Entain and are excited about the significant opportunities in the newly regulated New Zealand market. This acquisition will provide customers with an even better experience as we combine BetCity's local expertise and brand with our customer-centric platform. This acquisition further underpins our growth strategy to operate in attractive regulated markets. We look forward to working with the BetCity team. ”