Swedish Gaming Operator Betsson has solidified a strong position in the Nordic markets with its second major acquisition in the past year. Betsson has agreed to €65 million purchase price for the Malta-based Nordic Gaming Group, which primarily serves Scandinavian and Baltic customers with its gaming sites, NordicBet, TrioBet, and ToBet. The two gaming companies also agreed to a potential increase in the purchase price to €85 million that is contingent upon the development of Nordic Gaming Group over the next month.
Betsson believes that the acquisition of the rapidly growing casino and sports book operator will be beneficial in expanding the business as well as integrating the technology platforms. The Nordic Gaming Group reported a 37 percent increase in revenue over the past year and serves over 90,000 active depositing customers.
“Through this transaction, Betsson continues to strengthen its Nordic operations and its leading position amongst the private gaming company alternatives in the Nordic region,” stated CEO Magnus Silfverberg to Gaming Intelligence. “In addition, Betsson’s brand portfolio is strengthened significantly within the betting segment, as NGG receives approximately fifty percent of its revenues from sports book.”
Over the past year, Betsson has made great strides towards expanding its business and positioning itself to face the pending legislation in countries such as Denmark. In June 2011, Betsson purchased Betsafe for a price of €32.5 million, rising to €60 million. Furthermore, the gaming operator announced that it would set up Angler Gaming, which would focus on its non core markets in Africa, South America, and Eastern Europe.
With the news of the new acquisition, Betsson shares gained 4.87% in value since the announcement of the deal. In addition to the gain in value and growth, Betsson also will add a potential 185 employees from the Nordic Gaming Group.