Entain Plc (LSE : ENT) entered into an agreement to acquire BetEnt B.V. from Sports Entertainment Media B.V. for €850 million on June 14, 2022. The consideration for an initial of €300 million is payable in cash at completion and deferred contingent consideration of up to €550 million to be paid in early 2023 based on the actual performance of BetCity in the financial year 2022. The initial consideration will be funded from existing cash resources and drawings on the Group's revolving credit facility. As of December 31, 2021, BetCity had gross assets of approximately €20.7 million. The acquisition is expected to complete during H2 2022. Proskauer Rose LLP and Bureau Brandeis B.V acted as legal advisor to BetEnt. Hvk Stevens Rotterdam B.V. and KPMG International Cooperative acted as accountant to BetEnt. Partis capital acted as advisor to BetEnt. Fogarty, Melissa; Hirst, Elliot; Horowitz, Stephanie; Traas, Robin; Heuvel, Sabine Van Den; Blankestijn, Sanne; Tempelman, Jaap; Wijdeveld, Sophie; Stegeman, Laura; Anemaet, Lauresse; Borsjé, Pascal; Mamczarz, Iga; Hattum, Bart Van of Clifford Chance LLP acted as legal advisors to Entain Plc in the transaction.

Entain Plc (LSE:ENT) completed the acquisition of BetEnt B.V. from Sports Entertainment Media B.V. on January 12, 2023.