Esports Entertainment Group has announced that it is going to acquire sports betting operator Bethard. The deal is expected to be finalized and closed by July 1, 2021.
Bethhard has licences both in Spain and Sweden. This will allow Esports to gain the gaming licenses in both the countries.
The deal has been finalized in a transaction that will involve $19.5m in cash and 12% of Esports’ net gaming revenue share to Bethard for the next two years.
As per Gambling Insider, Esports Entertainment Group CEO, Grant Johnson, said: “This is another great addition for Esports Entertainment Group that substantially increases our revenues and available markets. With this transaction, we expect to gain two new gaming licences, including one in the strategically important Swedish market. At the completion of the licence handover, we will have six tier-one licences.”