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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.
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Altenar is launching a series of free online webinars with helpful tips and advice for operators to gain a better understanding of how to maximise the potential of their sportsbook.
In the webinars titled ‘Behind The Bet’, experts from across Altenar’s departments will present their thoughts on a range of topics aimed at educating the audience and helping them optimise their sportsbook offering.
As a leading sportsbook provider in regulated markets around the world, Altenar’s products are tailored to the demands of various regions and are developed based on the localised expertise of the team.
Account managers already play an important role in the business development of existing clients but ‘Behind The Bet’ will allow both current and potential customers to improve their understanding of various markets, regulations and sportsbook products.
The webinars will be held in English, Spanish and Portuguese to cater to the needs of a global audience, with the presentations followed by a question-and-answer session.
The first edition of Behind The Bet will focus on one of the hottest topics in the iGaming industry as Altenar’s Head of Licensing and Regulatory Compliance Magno Neiva and Sales Manager Frederico Caputi discuss the legal landscape in Brazil.
Charlie Williams, Commercial Director at Altenar, said: “The newly regulated market has opened up exciting opportunities for iGaming companies, but there are also many regulatory challenges to overcome in order to maximize market potential. Altenar’s success in highly regulated markets across the globe, and in South America, positions us to deliver a flexible range of products and services to help our clients grow in Brazil.”
Magno Neiva, Head of Licensing and Regulatory Compliance, said: “The Brazilian iGaming market is evolving rapidly, presenting exciting opportunities for operators and providers alike. As one of the most dynamic and promising regions in the industry, Brazil is at the centre of innovation and the new regulatory advancements are shaping the future of online betting and gaming in South America.
“Altenar is proud to be part of this journey, bringing its expertise and cutting-edge solutions to a market that is poised for significant growth.”
This webinar, the first in a series, could not have chosen a more relevant market to explore. Through this discussion, Altenar aims to showcase how its advanced sportsbook and gaming solutions can help businesses thrive in this fast-moving environment.
The first edition of Behind The Bet will be held in Portuguese and takes place on March 12 at 11am (Brazilian Standard Time).
The post Altenar offers sportsbook advice with ‘Behind The Bet’ webinars appeared first on European Gaming Industry News.
After becoming one of the first B2B suppliers to get their sportsbook solution successfully GLI-certified for Brazil, Delasport has now achieved compliance with the requirements of SIGAP regarding its iGaming platform.
Obtaining the required GLI certifications and the integration with the Brazilian DataVault through SIGAP’s official API means that the solution is fully ready to dive headfirst into the market.
The certifications granted by Gaming Labs International to Delasport include the required set of approvals: the technical certificates for Betting System, Sports Betting Server (Sportsbook), a.k.a. Remote Game Server (RGS), and more.
Delasport also covers the geofencing requirements and the requirements for safer gambling monitoring and AML transaction monitoring.
Part of the implementations include an intricate system with multi-factor authentication and a modern KYC provider, meeting all requirements of the market.
Just days ago, Delasport announced its first Brazilian deal with Latam-based B2B platform provider Vibra Solutions. This is all part of the company’s global expansion strategy where Brazil and LatAm in general is a key region to get established in.
“Successfully completing this second phase of GLI certification for Brazil reinforces the trust that players and operators place in Delasport’s products”, says Filippo Ferri, Delasport’s Chief Compliance Officer. “This certification highlights our ability to uphold the highest industry standards of integrity and fairness”, he concludes.
The post Delasport’s Full Platform Now Certified in Brazil appeared first on Gaming and Gambling Industry in the Americas.
Boardwalk entertainment casino resort
Hard Rock Hotel & Casino Atlantic City Team Members Awarded $10 Million in Bonuses Based on 2024 Record-Breaking Results
In recognition of 2024 record-breaking results at Hard Rock Hotel & Casino Atlantic City and in appreciation for the team members who made it possible, the leading Boardwalk entertainment casino resort awarded $10 million in bonuses to both union and non-union team members.
Team members attending Hard Rock Atlantic City Town Hall gatherings heard news they are sharing in substantial bonuses, as they have for each of the past six years. In addition to the bonuses, many team members won a share of $100,000 in cash and prizes at Town Hall events.
Addressing thousands of Hard Rock Atlantic City team members in two Town Hall sessions, Hard Rock International Chairman Jim Allen said the bonuses demonstrate the company’s appreciation and gratitude to team members for their commitment to excellence in the Atlantic City marketplace.
“2024 was indeed a record-breaking year in many categories for Hard Rock Hotel & Casino Atlantic City, and we want to recognize the hard work of team members who made it all possible. We set records for overall profit, market share, hotel occupancy, slot win and table games drop. We also had a record breaking year for conventions, food and beverage, entertainment, spa and hotel room sales,” said Allen.
The leadership team also discussed Hard Rock Atlantic City’s commitment to the surrounding community with over one million dollars in donations and volunteer efforts over the last year. Executives also shared brand updates highlighting the company’s domestic and global hotel, casino, and restaurant portfolio.
“2024 was truly a banner year at Hard Rock Atlantic City, and our team members are the reason for our success. Today’s Town Hall is a celebration of the hard work and dedication of our Hard Rock family and we thank them for their incredible efforts,” George Goldhoff, President of Hard Rock Atlantic City, said.
The post Hard Rock Hotel & Casino Atlantic City Team Members Awarded $10 Million in Bonuses Based on 2024 Record-Breaking Results appeared first on Gaming and Gambling Industry in the Americas.
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