Entain, which owns the Ladbrokes and Coral betting firms, said it would acquire BetCity from Sports Entertainment Media B.V. for an initial consideration of 300 million euros plus a deferred contingent consideration of up to 550 million euros.

($1 = 0.9582 euros)

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Subhranshu Sahu)