Betsson Group has announced the acquisition of Dutch-licensed operator Holland Gaming Technology and game studio Holland Power Gaming, which develops casino games for Holland Gaming Technology. The deal, valued at EUR 27.5 million ($29.6 million), is set to expand Betsson’s foothold in the Dutch market.
Holland Gaming Technology holds a license for casino games in the Netherlands and operates through platforms www.goldruncasino.nl and www.goldruncasino.com. Complementing the deal is Holland Power Gaming, a game development company exclusively supplying casino games for Holland Gaming Technology.
The transaction, finalized on February 19, 2024, involves a total consideration of EUR 27.5 million, funded entirely through Betsson’s own liquid assets. At the time of closing, an upfront payment of EUR 16 million was made, with deferred payments of EUR 9 million and EUR 2.5 million scheduled for six months and twelve months post-closing, respectively.
Speaking about the acquisition, Betsson emphasized its strategic objective of increasing revenue from locally regulated markets over time. The move aligns with Betsson’s overarching goal of achieving sustainable growth through strategic expansions into new territories.
The completion of the acquisition is contingent upon receiving post-closing approval from the Dutch gambling regulator, Kansspelautoriteit (KSA).
The move comes as Betsson keeps expanding its global footprint through M&A activity. In June 2023, the company announced the acquisition of Belgian sports betting and gaming operator betFIRST for a total sum of €120 million ($130 million).
The agreement involved the purchase of all shares in the betFIRST Group, which operates the betFIRST brand in Belgium. The upfront consideration for the acquisition amounted to $126.1 million (€117 million), free of debt, with the potential for an earnout payment based on agreed financial targets. The initial purchase price corresponded to a multiple of 10 times betFIRST’s estimated EBITDA for the fiscal year 2023.
Original article: https://www.yogonet.com/international/news/2024/02/19/70879-betsson-expands-dutch-presence-with-acquisition-of-holland-gaming-technology
