Esports Entertainment Group has signed an agreement to acquire the Swedish and Spanish-licensed sports betting operator Bethard
Esports Entertainment Group has signed an correspondence to gain the Swedish and Spanish-licensed sports betting operator Bethard.
As component part of the agreement, Esports Entertainment testament pay off $19.5m in cash and 12% of its meshwork gaming revenue share for the next two years.
The company has said that it expects the trade to be finalised and closed in(p) by July 1, 2021.
In 2020, Bethard generated revenue of $31m; due to this, Esports Entertainment has at present raised its fiscal 2022 revenue direction from $100m to $105m.
Since Bethard has licences inwards Espana and Sweden, the acquirement will permit Esports Entertainment to take in licensed gaming businesses inward both jurisdictions.
Esports Entertainment Group CEO, Ulysses S. Grant Johnson, said. "This is another outstanding addition for Esports Entertainment Group that substantially increases our revenues and uncommitted markets.
"With this transaction, we await to advance two new gaming licences, including unity inward the strategically important Swedish market. At the pass completion of the licence handover, we will feature half dozen tier-one licences."
As of now it is unclear as to how this trade will impact footballer Zlatan Ibrahimovic’s investigation; the AC Milan star came under scrutiny after it was reported lastly month he was section possessor of Bethard.
The Swedish footballer reportedly owns 10% of Bethard through his possess company, Unknown AB. This violates the codification of ethics readiness come out past FIFA and UEFA.
UEFA is currently investigating the showcase and is yet to commentary on the deal; with Esports Entertainment taking over it would open up the possibleness of IbrahimoviÄ discarding his 10% ownership.