The deal is expected to close in H1 of 2025 subject to approvals from relevant gaming and regulatory authorities. Glitnor has not disclosed the financial details of the OneCasino acquisition.
According to Glitnor, the acquisition will create commercial, operational and technological synergies, enabling accelerated growth and profitability across both businesses.
This includes OneCasino’s Malta-based game studio offered via a proprietary igaming platform. The studio allows for localised and bespoke content, with Glitnor saying this complements its own games studio.
The deal will also extend Glitnor’s reach into more regulated jurisdictions, with OneCasino active in markets such as the Netherlands, Spain and Denmark. OneCasino also has plans to enter the regulated German market pending final licence approval.
On a proforma basis, revenue for the consolidated business would surpass €150 million (£124.9 million/$162.6 million) in 2024.
Glitnor looks to rapid expansion with OneCasino
Speaking about the deal, Glitnor CEO Richard Brown said the combination will drive “rapid” growth for both businesses.
“The transaction accelerates our long-term vision to become a leader across high value, regulated markets in the igaming industry,” Brown said. “The hugely complementary geographical profile and high-quality product OneCasino have rapidly expands both companies’ short- and long-term addressable market.
“The team at OneCasino have built a fantastic company over the last years, creating a great product and working in a range of competitive regulated markets and have a proven track record of success. We are very excited to combine the two companies’ offerings and accelerate our growth potential.”
OneCasino CEO Mark Schram also welcomed the announcement. He said working together will allow OneCasino and Glitnor to become a leading force in the regulated igaming space.
“We’re incredibly proud of what the OneCasino team has accomplished over the years,” he said. “Joining forces with the Glitnor Group marks an exciting new chapter for us as we continue to grow and expand into new markets.
“The shared vision and synergies between both companies make this merger a perfect fit. It allows us to further enhance our proprietary technology and product offerings while continuing to focus on providing exceptional gaming experiences to our customers.”
Partis Solutions acted as OneCasino’s financial advisor for the deal.
Original article: https://igamingbusiness.com/strategy/ma/glitnor-group-acquire-onecasino/
