In a return to the French market, Unibet has announced the acquisition of the Solfive Group, which operates the EuroSportBet and EuroSportPoker brands, for €5.6 million.
The agreement, which includes a €1.5 million cash adjustment and a debt settlement of €2.4 million, is subject to approval by French regulatory body ARJEL.
Unibet left the French market earlier this year due to its prohibitive tax rates, limited product range and cumbersome registration process. However, the Swedish gaming operator is expecting favourable reforms to France’s regulatory framework in the future.
“Even though we recognize that it will be difficult to generate profits in the short term under the current terms and conditions, we consider that over the medium term France will develop a more sustainable model that will better achieve the goals of player protection, fair competition and reasonable taxation,” said Unibet chief executive Henrik Tjärnström.
“With this acquisition Unibet can re-enter the French market at a limited cost to take advantage of the longer-term opportunities.”