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 [$74m to $170m] less than its agreed deal with Sports Entertainment BV.
Entain, which has accused Sports Entertainment BV and the company founders, the Singels family, of concealing information related to regulatory infringements at BetCity.nl, is pursuing a legal challenge.
In 2022, Entain agreed terms to acquire BetEnt BV, the Dutch KOA licensed operator of BetCity.nl, for a valuation of €850m.
