ESPORTS ENTERTAINMENT GROUP TO ACQUIRE BETHARD IN €16M+ DEAL

Esports Entertainment Group (EEG) is set to acquire online gambling brand Bethard. 

EEG has entered an agreement to acquire Gameday Group’s B2C business, operating under the Bethard brand by Bethard Group Limited. The deal will see EEG pay an initial €16M ($19.5M USD) in cash, followed by 12% of net gaming revenue for two years. 

Grant Johnson, CEO of Esports Entertainment Group, commented: “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 licenses, including one in the strategically important Swedish market. At the completion of the license handover we will have 6 tier one licenses.”

The acquisition is expected to close on 1 July 2021, and as a result of the transaction, EEG is raising its fiscal 2022 revenue guidance to $100M – $105M USD.

Malta-based Bethard was founded in 2012 and offers sports betting and casino games online. In 2020 the operator generated revenue of $31M USD.