Bethard, a B2C sports betting and online casino operator, has been acquired by Esports Entertainment Group (EEG) from its parent firm Gameday Group.
The deal comprises a cash payment of €16 million (£13.6 million) and a two-year net gaming revenue share of 12%. Bethard made $31 million (£22.4 million) in revenue in 2020, according to a press statement.
The purchase of Bethard (which is run by Bethard Group Limited) has opened up betting markets in both Spain and Sweden. Esports Entertainment Group increased its revenue projection for fiscal 2022 from $100 million (£72.3 million) to $105 million (£75.