EEG enters Swedish betting market with Bethard acquisition

Esports Entertainment Group (EEG) announced the acquisition of B2C sports betting and online casino operator Bethard from its parent company Gameday Group.

The transaction includes a €16 million (~£13.6 million) cash payment and a 12 percent net gaming revenue share for two years. Per a release, Berthard generated $31 million (~£22.4 million) in revenue in 2020.

The acquisition of Bethard (operated by Bethard Group Limited) has opened the door to betting markets in both Spain and Sweden. As a result of the transaction, Esports Entertainment Group raised its fiscal 2022 revenue guidance from $100 million (~£72.3 million) to $105 million (~£75.9 million).

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