Entain Dutch dispute points to bonus and VAT exemptions denying BetCity.nl performance

Entain Dutch dispute points to bonus and VAT exemptions denying BetCity.nl performance

Article brief provided by SBC News
  • Ted Menmuir, SBC News
June 17, 2024 8:43 PM
  • Ted Menmuir, SBC News
  • Netherlands
  • United Kingdom

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.

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The counterclaim is the latest development in the High Court of England & Wales dispute between Entain Plc and Sports Media BV and related associates – the former owners of Dutch operator BetCity.nl.

In January, Entain initiated a High Court challenge against Sports Media BV related to ‘contractual disputes’ on the terms of its acquisition of BetCity.nl.

Deal terms struck in 2022 saw Entain pay an up-front cash payment of €300m to the former owners of BetCity.nl.