Unibet has reached an agreement to purchase Bet24 from the Modern Times Group for the sum of €13.5 million, as the company aims to challenge Danske Spil, the market leader in Denmark.
“We have had quite a strong position in Denmark, and over the last year we’ve been building up this position, so we were one of the top three operators by the time the market opened in January, and can become a major challenge to the Danish monopoly,” said Unibet CEO Henrik Tjarnström.
Finalization of the deal is expected by the end of the second quarter. Unibet has been quite busy as a buyer in recent months. The purchase of Bet24 follows the strategic acquisition in November of EurosportBET owner Solfive in France, as well as the purchase of Betchoice in Australia two months ago, eGaming Review reported.
Unibet is planning to rebrand Bet24 and migrate the existing customers to its own unique platform. That platform includes the company’s foray into high-speed poker, as Unibet just days ago launched Fast Poker on its site, which is similar to Zoom Poker at PokerStars and the prototypical Rush Poker of the shuttered Full Tilt Poker site.
“Having one brand as opposed to two is more beneficial overall to us, and our bottom line rather than running two brands in parallel,” Tjarnström said.