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Esports Entertainment Group acquires Bethard and gains a foothold in the Swedish betting market

Esports Entertainment Group has announced the acquisition of B2C sports betting and online casino operator Bethard and subsequent entry into the Swedish and Spanish betting markets. This is another in a long list of significant acquisitions and partnerships by Esports Entertainment Group.

The Acquisition

The acquisition of the operator includes a cash payment of 16 million euros and a 12% stake in net gaming revenues for two years. According to their official press release, Bethard generated revenue of $31 million in 2020.

This acquisition means that the Esports Entertainment group now has operators in the Spanish and Swedish markets. The Spanish betting market generated €850.7 million in gross gambling revenue last year, but that number pales in comparison to the Swedish betting market, which they now have access to.

According to the Swedish Gambling Commission, the country’s betting market is estimated at around £2 billion. Both traditional sports betting markets and esports betting markets are taken into account. However, the popularity of esports and esports betting in the region like DOTA 2 betting means they have an amazing region to expand their core offering and expand into more traditional sports betting offerings.

The Esports Entertainment Group takes over Bethard

Esports Entertainment Group CEO Grant Johnson spoke about their entry into the Swedish and Spanish esports betting market with the acquisition of Bethard:

“This is another great addition to the Esports Entertainment Group, significantly increasing our revenue and available markets. We will gain two new gaming licenses from this transaction, including one for the strategically important Swedish market. With these additions, we will have a total of 6 Tier 1 licenses globally.”

The growth of the EEG

The Esports Entertainment Group has also entered the US betting market. Just last month they partnered with the Indian Gaming Esports Association. This is the premier tribal eSports organization driving the acceptance of eSports among tribal nations and casinos.

This is a period of rapid expansion for Esports Entertainment Group. Recently they signed two marketing deals to expand their esports betting brand VIE.bet to Latin America. They have sponsorship deals with Infamous Gaming, Peru’s largest esports organization, and the Movistar Liga Pro Gaming League, produced by Live Media Esports Entertainment.

They also acquired online casino operator Lucky Dino, the approximately $30 million deal to acquire the Malta-licensed online casino operator’s assets has brought the Esports Entertainment group a wide range of new assets to its growing business . Not only are they expanding their reach geographically, but they are also committed to growing their esports ecosystem.

They recently announced that their New Jersey subsidiary GMBL has been approved for a license in New Jersey, allowing them to enter the North American esports betting industry. With their esports betting site VIE.gg, they will now be able to operate and serve bettors with great esports odds in New Jersey. They are rapidly expanding their presence around the world, but it looks like their focus is centered on Europe and America.

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