Connect with us

News

Italo Ferreira Net Worth

Italo Ferreira net worth is $5 million. He is a professional surfer from Brazil. He has competed in the world surf league since 2015. He will be representing brazil in the Tokyo 2020 Olympics

Italo Ferreira Net Worth
Advertisement

Italo Ferreira net worth: He is a Brazilian professional surfer. He was the gold medalist at the world title in the 2019 World Surf League. He won the “Rookie of The Year” award after his 7th place finish on the 2015 WSL World Championship Tour, surpassing fellow 2015 rookies Wiggolly Dantas (15th), Keanu Asing (20th), Ricardo Christie (31st), and Matt Banting (33rd).

Read Kylian Mbappe net worth

He trains his body to carry him out to meet and beat each wave that the ocean throws his way. 

Advertisement

Italo Ferreira Net Worth

Italo Ferreira net worth is $5 million. He is a professional surfer from Brazil. He has competed in the world surf league since 2015. He will be representing brazil in the Tokyo 2020 Olympics

During the Tokyo 2020 Olympics, Brazil’s Italo Ferreira claimed the sport’s first-ever Olympic gold medal, and Carissa Moore of the US duly followed suit in the women’s competition.

Meet the youngest Olympians

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement

Glusea.com is an online website designated to publishing information that will help inspire and motivate high achievers. We believe that every individual live his/her life based on the amount of information about life available to them. To this end, we strive to publish success stories of Accomplished individuals around the world as way of motivating others. we also give tips on how to succeed in any field. If you are someone who aspire higher in ;life, visit Glusea.com daily and you will be abreast with all the latest trends about success here. welcome to the Glusea family.. we love you dearly contact us via email : gluseagh@gmail.com

News

MultiChoice stakes $281.5 million in BetKing, widening Nigeria’s betting market.

MultiChoice
Advertisement

MultiChoice purchased a 20% stake in Blue Lake Ventures Limited, a pan-African sports betting and Entertainment Company known as BetKing, in October 2020. Now, through its wholly-owned subsidiary, Mwendo Holdings B.V, MultiChoice aims to buy a further 29%.

This means Multichoice will have a non-controlling 49% share in BetKing Nigeria, valued at $281.5 million, in line with its aim to extend its entertainment ecosystem and build important future value drivers.

However, the completion of this deal is dependent on some substantive conditions. 

Advertisement

First, Multichoice has to secure debt funding. To complete the transaction, they need to raise about $294.45 million in rand-denominated debt.

Secondly, the completion of the employee share incentive scheme is fundamental. The arrangement includes creating an employee share option plan by apportioning 10% of the company’s equity. More so, shareholders will own shares in the diluted business. 

Thirdly, they have to obtain regulatory approvals from antitrust or competition authorities in various jurisdictions. 

Advertisement

Other requirements include agreeing on a reasonable exit clause for minorities who will sell down to recoup some of their initial investment.

MultiChoice
MultiChoice stakes $281.5 million in BetKing, widening Nigeria's betting market. 36

Multichoice Group CEO Calvo Mawela believes that sports betting is an exciting and buoyant market that is well-aligned with the company’s Pay-TV business.  He further adds that the majority of betting enthusiasts watch a lot of games, which Multichoice is known to show on its platform.  

About Betking Nigeria

Widely acknowledged as one of the popular sports betting platforms in the continent, Betking Nigeria was founded by Bryon Petzer and Adekunle Adeniji, who previously worked as Bet9ja’s virtual product manager. 

As of Dec 2020, Betking increased its annual revenue by 42% to $54.7M in 2019 to $77.9M. Meanwhile, its net asset value stood at $100.2M. 

Advertisement

According to Technavio, the sports betting industry is expected to grow by more than $134 billion between 2020 and 2024, with a remarkable compound annual growth rate (CAGR) of 10%.

Nigeria’s betting space

Popular betting companies like Betking, Sporting Bet, Nairabet, Naijabet, Bet9ja, and Surebet24 dominate the betting space in Nigeria. 

In 2018, about 60M Nigerians ages 18-40 were involved in sports betting. Approximately, ₦2 billion was spent on active sports betting daily. Yet, Africa holds only 2% of global sports betting revenue. This, without a doubt, rationalizes BetKing Nigeria investment, as the continent is poised for great momentum as it starts to play catch-up.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Continue Reading

Content on this website is protected by DMCA.  Dont waste your time copying because you would eventually remove it.

Latest Post

Advertisement Enter ad code he re
Advertisement
Advertisement Enter ad cod e here

Davido net worth