Esports Entertainment Group (EEG) has agreed terms to sell its Bethard online casino and sportsbook business for €9.5m [$10.1m].
When announcing the deal, EEG provided no information on the acquirer of Bethard, but did declare that it had reached definitive terms for the brand to be sold for €9.5m, comprising €1.65m of cash proceeds payable at closing.
The transaction’s remaining €6.5m will be “attributed to the Company’s release from payment of its contingent consideration liability from the Bethard acquisition.”
Bethard’s new owner will assume liabilities of approximately €1.2m, as EEG seeks to close the deal within a two-week period following the signing of the purchase agreement.
