SPORTS BETTING
US – Esports Entertainment Group acquires Bethard
By Lewis - 26 May 2021
Esports Entertainment has signed an agreement to acquire Gameday Group’s B2C business. Operating under the ‘Bethard’ brand, the sports betting operator generated $31m in revenue in 2020.
Under the terms of the agreement, EEG will pay €16m in cash and a 12 per cent net gaming revenue share for two years.
The acquisition is expected to close on July 1, 2021. As a result of transaction, Esports Entertainment Group is raising its fiscal 2022 revenue guidance to $100m to $105m.
“This is another great addition for Esports Entertainment Group that substantially increases our revenues, and available markets,” commented Grant Johnson, CEO of Esports Entertainment Group.
“With this transaction, we expect to gain two new gaming licenses, including one in the strategically important Swedish market. At the completion of the license hand over we will have six tier one licenses.”
