Betsson Acquires Betsafe for Online Gambling Synergies

Published Friday, May 13, 2011 -

Primarily focused on the Nordic online gambling market Betsafe is a private gaming company which offers sports betting, casino and poker to a large number of players.
Online gambling business Betsson has acquired its rival Betsafe in a deal valued at €60 million (£52.2 million).

The Betsson Group is a Swedish gambling Group with over 40 years in the business. The Betsson Group is specialized in Internet gambling and is listed on the OMX Nordic Stock Exchange in Stockholm, Mid Cap. The firm employs approximately three hundred people in a number of locations. Betsson offers a wide range of first-class online gambling products and games in a safe and user-friendly gaming environment. Betsson’s product portfolio is varied and extensive including, a Sports Book, Casino, Live Casino, Poker, Games, Scratchcards, and Bingo.
Betsson Malta Limited is licenced  by the  Malta’s Lotteries and Gaming Authority under the Remote Gaming Regulations clause. Betsson Poker is powered by Ongame Network Ltd, which has a network license issued by the Gibraltar Government. Betsson Euro Tables is an online poker service belonging to a network, arranged and operated by Entraction Network Ltd. in compliance with the applicable laws of Malta. The Live Casino Games are operated by Evolution Gaming under a license issued to Evolution Gaming by the Alderney Gaming Control Commission.

According to a company press statement, the purchase details how Betsson is to pay an initial €32.5 million in cash and shares and a subsequent €27.5 million payable based on 'the development of the acquisition and the integration thereof during 2011'. The deal is beneficial for both firms which are licensed in Malta and are present on the Ongame poker network.
Pontus Lindwall, Chief Executive Officer of Betsson, commented that the acquisition will be creating synergies such as integration of platforms and supplier contracts.  Lindwall continued, “We strengthen our position in the Nordic region as well as our organisation when merging two profitable companies, each of which has proven its ability to gain market share in a highly competitive market.”




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