BetCity's former owners have claimed Entain was not only aware of the KSA's investigations, but also severely impacted their earn-out.
The counterclaim against Entain has been submitted by BetCity’s former owners, which consists of various members of the Singels family. Also included are former CEO Melvin Bostelaar and former marketing director Robert Kooiman.
It comes in response to Entain’s original accusation that undeclared regulatory investigations at the time of the acquisition meant the Dutch-facing business was worth as much as €156m (£133m/$169m) less than assumed.
Entain acquired BetCity for €450m in January 2023, with the deal ultimately giving it access to the Dutch market. BetCity was one of the initial 10 licensees in the Netherlands.
However in January this year, Entain launched a compensation claim after details of two regulatory cases came to light. Entain said in the claim it was unaware of the investigations into BetCity when it acquired the business…