South African pay-TV company Multichoice has paid R1.3 billion ($81million) -and may still pay another R500 million more for a 20 percent stake in Nigerian sports bet company Betking. It was disclosed on Thursday. The company bought the shareholding to expand the group’s entertainment ecosystem.
Further, it said in a brief note in its interim results statements. The first payment was an upfront investment, and Multichoice said valuing Betking at a minimum of R6.5billion ($31 million). The additional amount is dependent on earn-out targets, which it did not disclose, up to the end of 2023. Although Multichoice described BetKing as pan-African, it has significant betting operations only in Nigeria, Ethiopia. As of June this year starts operations in Kenya, which it also entered into a considerable soccer sponsorship. In its home country, it has built an agent network.

It says numbers more than 8,000 in part through a commission structure that offers shop-owners up to 30 percent for the transaction via equipment it provides, with the promise of payment within 24 hours. To hit the high commission payments, agents must push –players towards high-risk bets. Those who do not will earn 1% instead.
Multichoice said the notion of the deal its groups intend to further expand its entertainment ecosystem and revenue prospects by offering new products and services and pushing new growth opportunities.

In contrast, Multichoice does not just w..... READ MORE HERE.https://beadysworld.tv/multichoice-acquires-20-percent-of-betking-nigeria/

hmm the rich are getting richer

is nex level ripe off by two culpritz