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Jun 14 2022, 08:20 IST/BST
Entain
Announces acquisition of BetCity
DAVY VIEW
The acquisition of BetCity alters Entain’s position in the Dutch market. While its own brands are unlikely to re-enter the Netherlands until later this year, it will now also own a leading local operator with an established customer base. On first glance, it looks like an attractive strategic step, complementary to Entain’s own Dutch brand and broader online platform position. The expected consideration of €450m equates to a multiple of 11.2x 2023 EV/EBITDA pre synergies.
