EEG enters Swedish betting market with Bethard acquisition

3 years ago cnews

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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