Bet99 Ownership Structure
BET99 Sportsbook, founded in 2020, is an online sports betting platform and casino steered by a multi-layered ownership group. BQC Consulting GmbH, which is based in Zug, Switzerland, manages its operations. BQC Consulting GmbH is a privately held Swiss subsidiary of Sports Venture Holdings Inc. (SVH).
Sports Venture Holdings: The Parent Behind Bet99
According to a 2022 press release, Sports Venture Holdings is a self-described "holding company of subsidiaries that operate the BET99 brand."
It also describes itself as the "parent company of the market-leading BET99 brand."
Bet99 Parent Company and Acquisition
Part of the BET99 brand expansion initially involved acquisitions and mergers. Its most notable merger was supposed to be with Kings Entertainment Group. If this went through, BET99 would've been brought into the public capital markets via the Canadian Securities Exchange.
Kings Entertainment Group and the Canadian Securities Exchange: A Proposed Merger That Fell Through
Kings Entertainment Group, a publicly traded company on the Canadian Securities Exchange, would've brought a whole new dynamic to the company with additional financial resources and increased visibility.
Shareholders of Kings Entertainment Group approved the merger, and the Canadian Securities Exchange gave conditional approval.
However, before the deal was finalized and after three extension agreements, Sports Venture Holdings resisted the merger and eventually settled with Kings Entertainment Group.
As a result of the settlement, Sports Venture Holdings paid Kings Entertainment Group back its $2.5 million advance and an additional $1.75 million for costs it incurred that involved the merger.
The merger was officially canceled in April 2023, nearly a year after the two parties agreed.
