Danske Spil agrees 10-year TivoliCasino takeover deal
Operators agree royalty-led ownership deal
Danish online casino and sports betting operator Danske Spil has agreed a deal to take over ownership of online casino TivoliCasino.dk from local amusement operator Tivoli A/S.
Financial terms of the deal were not disclosed; however, Danske Spil has confirmed the agreement entitles Tivoli A/S to royalties from Danske Spil for use of the TivoliCasino.dk brand for a period of 10 years.
After this period both parties will evaluate the cooperation and consider the possible extension of the agreement beyond this date.
Danske Spil administrative director Susanne Mørch Koch said the partnership “makes great sense” for the operator as both Danske Spil and Tivoli are well known Danish brands and can capitalise on this to the benefit of players.
“One of our core competencies is games. We can use it to develop Tivoli Casino, and take it to the next level for the benefit of both players and our new partnership,” Koch added.
Tivoli A/S owns and operates TivoliCasino.dk and runs the Tivoli theme park in the centre of Copenhagen. The company was founded in 1843 and is registered on Nasdaq OMX Nordic.
Tivoli A/S director Lars Liebst highlighted the potential commercial benefits of cooperation between the two operators, expressing pride at what the TivoliCasino.dk brand had achieved since inception in 2012.
“It has been important for us to choose a business partner who fully meets our own values when it comes to gaming – including responsible gaming – and we have got that with Danish Games,” Liebst added.