{"id":260,"date":"2024-06-27T07:43:33","date_gmt":"2024-06-27T04:43:33","guid":{"rendered":"https:\/\/7bitcasinobonuscode.icu\/2024\/06\/27\/entain-takes-over-betcity-a-look-at-the-agreement\/"},"modified":"2024-06-27T07:43:33","modified_gmt":"2024-06-27T04:43:33","slug":"entain-takes-over-betcity-a-look-at-the-agreement","status":"publish","type":"post","link":"https:\/\/7bitcasinobonuscode.icu\/2024\/06\/27\/entain-takes-over-betcity-a-look-at-the-agreement\/","title":{"rendered":"Entain Takes Over BetCity: A Look at the Agreement"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/-yeEcj_pKfk\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>## Entain Takes Over BetCity: A Look at the Agreement &#8211; Mergers &#038; Acquisitions &#8211; iGB<\/p>\n<p>Paul Richardson joined the ranks of corporate advisory specialists Partis early in June. Just a short time later, he finalized his first significant agreement, Entain&#8217;s purchase of BetCity, to speed up its return to the Dutch marketplace.<\/p>\n<p>**Home > Strategy > Mergers &#038; Acquisitions > Entain Takes Over BetCity: A Look at the Agreement**<\/p>\n<p>The worth of the Dutch gambling market is perhaps best shown by those operators who were not qualified for a permit. The financial effect outlined by some well-known names who cut off access to Dutch consumers demonstrates how much business they were already conducting, even without actively promoting to local consumers or providing local language services.<\/p>\n<p>For instance, Kindred stated its earnings before interest, taxes, depreciation, and amortization (EBITDA) would be reduced by \u00a312 million per month while it left the market. When it finally received a permit in June 2022, its share price increased by about 10%.<\/p>\n<p>Betsson encountered losses of around SEK 25 million (\u00a32 million) per month, and Entain stated its monthly EBITDA would be lowered by approximately \u00a35 million.<\/p>\n<p>This, in turn, has created room for local brands to thrive. The local lottery Nederlandse Loterij and its Toto brand were early successes, as was the casino monopoly Holland Casino. Operating alongside these businesses was BetCity, a brand that only debuted in October of last year, but seemingly out of nowhere, has become a leading name. <\/p>\n<p>Entain has purchased BetCity for \u20ac300 million, a transaction facilitated by Partis, the mergers and acquisitions advisory branch of Conexus Group. This agreement arrives shortly after Paul Richardson officially joined the partnership.<\/p>\n<p>Richardson brings a vast amount of experience, having previously been in charge of corporate strategy and growth at Rank Group and before that, investment banking across European, Asian and American markets. He has been involved in transactions such as the combination of Gala and Coral, William Hill&#8217;s entry into the American market and Galaxy Entertainment&#8217;s expansion in Macau and beyond.<\/p>\n<p>The BetCity deal is especially noteworthy, with a total consideration of up to \u20ac850 million based on performance-related bonuses, although Entain states it anticipates the price to be around \u20ac450 million. Paul Leyland of Regulus Partners observed that this price &#8220;represents one of the quickest returns in the industry,&#8221; occurring just nine months after BetCity&#8217;s launch.<\/p>\n<p>For Richardson, the price reflects &#8220;the potential of the Dutch market and the quality of the business.&#8221;<\/p>\n<p>&#8220;The quality of the BetEnt business is top-notch,&#8221; he explained. &#8220;The family behind it has been operating amusement centers in Amsterdam for 30 years; they understand the market, they understand the regulators.&#8221;<\/p>\n<p>He stated they had hired two individuals with strong digital backgrounds in Melvin Bosstraal (Chief Executive Officer) and Robert Koijman (Marketing Director). <\/p>\n<p>They positioned themselves on the Kambi sports wagering platform and the Oryx platform, and formed an agreement with Evolution, thus launching a top-notch product and gaining market dominance by outperforming other firms still struggling to find their footing.<\/p>\n<p>During the final quarter of 2021, they projected a 20% market share, translating to approximately \u20ac30 million in earnings. When you combine the market share of Holland Casino and Toto, it reveals that only three permit holders account for roughly three-quarters of the revenue.<\/p>\n<p>Richardson believes this factor also influenced the acquisition price, particularly considering upcoming marketing control measures that will make it more challenging for new entrants to close the gap with early pioneers.<\/p>\n<p>&#8220;Clearly, there&#8217;s space for major European experts to enter the market, but Bet365 is already established, and it&#8217;s a significant distance from BetCity,&#8221; he highlighted. &#8220;Tombola secured a license, so Flutter can take action, but I believe the marketing restrictions will make it more difficult to catch up.<\/p>\n<p>&#8220;They can&#8217;t revert to the old database and they can&#8217;t attract customers in the same manner as BetCity did when it commenced operations,&#8221; he added. &#8220;The cost per acquisition (CPA) will be higher, and the tools for acquiring customers will be more difficult to use, [as influencer prohibitions will take effect on July 1].&#8221; <\/p>\n<p>The expert indicated that another operator stated that the marketing limitations pledged by Justice Minister Franc Weverling would effectively prohibit online marketing, signifying that newcomers would encounter difficulties in attracting customers.<\/p>\n<p>&#8220;I believe this clarifies why Entain made this agreement,&#8221; he stated. &#8220;With a new product being introduced in nine months, this stance will be challenging to alter.&#8221;<\/p>\n<p>He mentioned that this doesn&#8217;t imply that a fresh, distinctive product cannot establish a presence in the Dutch market &#8211; although this holds true for every competitive, regulated market. &#8220;Participants are constantly seeking something novel,&#8221; he remarked.<\/p>\n<p>However, Richardson added that an increasing number of operators are adopting a strategy in mergers and acquisitions that focuses on local market expertise provided by companies like BetCity. Well-capitalized companies can opt to purchase market share instead of investing the funds required to build it.<\/p>\n<p>&#8220;That&#8217;s the primary reason why mergers and acquisitions are occurring,&#8221; he explained. &#8220;You cannot enter numerous markets simultaneously, but you can acquire a business with an exceptional management team that has demonstrated its ability to successfully launch products.&#8221;<\/p>\n<p>This also enables synergies, when there is a central technology platform that new acquisitions can be integrated into, as Entain intends to do with BetCity, just as it did with Bet.pt in Portugal and Enlabs in the Baltic nations. <\/p>\n<p>By leveraging teamwork, numerous entities can be consolidated into a smaller group, Richardson states that publicly traded firms &#8220;engage in this practice routinely.&#8221;<\/p>\n<p>&#8220;Boards of directors typically only approve continued spending if they are convinced that thorough research has been conducted and the anticipated outcomes from the agreement are being realized. Entain&#8217;s strategic planning and mergers and acquisitions team has a strong history of successful acquisitions and integrations.&#8221;<\/p>\n<p>The agreement was finalized shortly after Richardson officially joined Partis, indicating his intentions. &#8220;It&#8217;s a positive development to have finalized one of the most advantageous agreements I&#8217;ve ever negotiated just two weeks after announcing my affiliation with a company,&#8221; he remarked.<\/p>\n<p>Sign up for the iGaming News newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>## Entain Takes Over BetCity: A Look at the Agreement &#8211; Mergers &#038; Acquisitions &#8211;&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Entain Acquires BetCity: Dutch Market Expansion<\/title>\n<meta name=\"description\" content=\"Entain\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/7bitcasinobonuscode.icu\/2024\/06\/27\/entain-takes-over-betcity-a-look-at-the-agreement\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Entain Takes Over BetCity: A Look at the Agreement\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Entain\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/7bitcasinobonuscode.icu\/2024\/06\/27\/entain-takes-over-betcity-a-look-at-the-agreement\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Unlock Your Winning Potential | Licensed Online Casino Games\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T04:43:33+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/7bitcasinobonuscode.icu\/2024\/06\/27\/entain-takes-over-betcity-a-look-at-the-agreement\/\",\"url\":\"https:\/\/7bitcasinobonuscode.icu\/2024\/06\/27\/entain-takes-over-betcity-a-look-at-the-agreement\/\",\"name\":\"Entain Acquires BetCity: Dutch Market Expansion\",\"isPartOf\":{\"@id\":\"https:\/\/7bitcasinobonuscode.icu\/#website\"},\"datePublished\":\"2024-06-27T04:43:33+00:00\",\"dateModified\":\"2024-06-27T04:43:33+00:00\",\"author\":{\"@id\":\"https:\/\/7bitcasinobonuscode.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Entain\",\"breadcrumb\":{\"@id\":\"https:\/\/7bitcasinobonuscode.icu\/2024\/06\/27\/entain-takes-over-betcity-a-look-at-the-agreement\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/7bitcasinobonuscode.icu\/2024\/06\/27\/entain-takes-over-betcity-a-look-at-the-agreement\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/7bitcasinobonuscode.icu\/2024\/06\/27\/entain-takes-over-betcity-a-look-at-the-agreement\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/7bitcasinobonuscode.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Entain Takes Over BetCity: A Look at the Agreement\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/7bitcasinobonuscode.icu\/#website\",\"url\":\"https:\/\/7bitcasinobonuscode.icu\/\",\"name\":\"Unlock Your Winning Potential | Licensed Online Casino Games\",\"description\":\"Indulge in the excitement of licensed online gambling with the help of our regularly updated news, comprehensive reviews, and expert articles. 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