Entain Plc sees its business units return to ‘organic growth’; however, the FTSE100 group’s yearly profits have been wiped out by bottom-line impairments, write-downs, and restructuring costs totalling £860m. For a second consecutive year, Entain has declared a multi-million pound loss (after tax) for FY2024, totalling £460m. The figure further compounds the FY2023 loss of £900m, while group accounts further …
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Sports Media Entertainment BV has filed a further counterclaim against Entain Plc, stating that technical arrangements related to bonus costs and VAT exemptions had been infringed upon, negatively impacting the performance and valuation of BetCity.nl. The counterclaim is the latest development in the High Court of England & Wales dispute between Entain Plc and Sports Media BV and related associates …
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Further developments have surfaced in the ongoing legal dispute between Entain Plc and Sports Entertainment Media BV regarding the deal valuation of BetCity.nl. On 19 March, Sports Entertainment Media BV and related parties submitted a counterclaim to the High Court of Justice of England and Wales demanding €104m in compensation from Entain. The counterclaim, put forward by the Singels family …
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Entain Plc has disclosed additional information related to its legal challenge against Sports Entertainment Media BV and related parties involved in the valuation of its Netherlands subsidiary, BetCity.nl. Documents published by the High Court of England and Wales detail that the board of the FTSE100 gambling group deems the value of BetCity.nl as being €68m-to-€156m less than its agreed deal …
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Entain Plc has initiated legal proceedings against the former owners of BetCity.nl, the Dutch sportsbook and igaming property of the FTSE100 gambling group. A lawsuit has been filed in the Commercial Court of England by Clifford Chance, representing Entain Netherlands BV, against former owners of BetCity.nl, primarily consisting of the Singels Family and associates. Entain has filed a ‘Part-7 Claim …
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Kansspelautoriteit (KSA), the gambling authority of the Netherlands, has imposed a €3 million penalty on BetEnt NV, the operating company of BetCity.nl. The penalty relates to BetCity.nl’s failure to comply with the rules of the Netherlands Money Laundering and Terrorism Financing Prevention Act (Wwft). A subsidiary of Entain Plc, BetEnt was warned by KSA of shortcomings in AML compliance in …
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Bragg has extended its agreement with Entain to supply the latter’s Dutch igaming operator, BetCity.nl, with its Player Account Management (PAM) platform until 2025. The gaming technology and content provider will provide its proprietary aggregated casino content, as well as deliver sports betting products to customers of BetCity.nl. Bragg Chairman and CEO, Matevž Mazij, stated: “As reflected in BetCity.nl’s strong …
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BetCity.nl has initiated an upgrade of its responsible gambling practices and solutions by partnering with Mindway AI. The Dutch-facing Entain-owned sportsbook brand will utilise Mindway’s technology and knowledge of artificial intelligence (AI), neuroscientific insights and analysis to deliver a safer gambling experience to its customers. Mindway’s GameScanner tool will play a particularly important role in the partnership, due to be …
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BetCity.nl, the flagship Dutch sportsbook property of Entain Plc, has once again enhanced its sponsorship of Eredivisie football club SBV Vitesse Arnhem. Starting next season, BetCity.nl will become the principal sponsor of Vitesse, moving its brand logo from the back to the front of the club’s shirt. The partnership between BetCity.nl and Vitesse began in January 2022, with the sportsbook …
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The Dutch Gaming Authority, Kansspelautoriteit (KSA), has completed its latest enforcement action, issuing a €400,000 fine against BetEnt, operator of BetCity.nl. Betent has found itself to be the latest firm to fall under the KSA’s scopes for advertising infractions. The regulator has accused the firm of ‘targeting’ young adults between 18-23 years old with advertisements. Notably, the fine is the …
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