Betsson AB has acquired land based and online gaming operator Europe-Bet, based located in the eastern European nation of Georgia, for an $85 million (USD) consideration.
"Europe-Bet has established a strong brand with a competitive multi-product offering in the locally regulated market of Georgia. Together with Betsson's technology, a foundation for profitable and sustainable growth within and outside Georgia is created", Magnus Silfverberg, CEO and president of Betsson said in a statement.
Betsson has taken over the company, which was started by a group of entrepreneurs and there will be founders that remain onboard in strategic management roles.
The deal will be final in July.
Shumar4life
8 years ago
Big fish eats small fish, and like that we can think about this operation. Betsson is searching for new partners and for new companies, and Europe Bet was not big enough to be recognized as global brend. Betsson in other hand will get their experience and maybe some new products
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sharpe
8 years ago
Although I'm not familiar with the Europe-Bet's products it seems like this deal will be a successful one for Betsson AB. $85 million is a really huge investment for a gambling operator from Georgia but I guess Europe-Bet is the biggest operator out there, moreover land based casinos are also included so it's have to be...
Although I'm not familiar with the Europe-Bet's products it seems like this deal will be a successful one for Betsson AB. $85 million is a really huge investment for a gambling operator from Georgia but I guess Europe-Bet is the biggest operator out there, moreover land based casinos are also included so it's have to be great deal for the future of Betssons.
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