Betsson Announce Official Acquisition of Holland Gaming Technology
LISTEN TO THIS ARTICLE:The Betsson Group (Betsson), the iGaming and sports betting entertainment giant, has announced the acquisition of Holland Gaming Technology Ltd and Holland Power Gaming B.V for the combined price of €27.5m.
Betsson bought the Netherlands licensed gaming operator, Holland Gaming Technology Ltd, and the studio that develops games for the operator, Holland Power Gaming B.V, in a strategic move for Betsson to achieve growth in the Dutch gambling market.
Under the terms of the deal, Betsson will make staged payments to fully acquire the two businesses. The operator has paid €16.0m upfront, with a further payment of €9m in six months and then a final payment of €2.5m to be paid in twelve months.
Growth through Geographic Expansion
Based in Stockholm, Sweden, the Betsson Group is one of the largest entertainment companies in the iGaming industry. The group consists of more than 20 gaming operator brands and has a presence in over 21 jurisdictions.
The operator has a defined strategy of increasing revenue and profit by increasing its footprint within new markets. Gambling industry acquisitions such as these fit in perfectly with that plan which senior management at the group believes will increase its revenue share in the Netherlands market, leading to more profitable growth through an increase in its footprint.
In the statement, Betsson acknowledged that both acquisitions are subject to approval from the Kansspelautoriteit, the Dutch gambling regulator.
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