Multichoice strengthens its position in sports-betting with 20% stake acquisition in BetKing

Last updated: November 23, 2020 12:19 pm

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Multichoice will invest $81.0m to acquire a stake in BetKing, a sports-betting business. BetKing operates in Nigeria, Kenya, and Ethiopia.

As part of the agreement, BetKing has been accounted for as an associate of Multichoice since October 1.

BetKing recently became the title sponsor of the Kenyan Premier League through a five-year deal worth KES1.2bn. Each Premier League team will receive KES8m per year.

BetKing took over as the title sponsor from SportPesa, which withdrew from the Kenyan market in August 2019.

SportPesa’s attempts to resume operations in Kenya have been blocked by the Betting Control and Licensing Board.

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