XIN Gaming acquires Tain and Betting Promotion for ?9m
Asian firm targets European expansion with acquisition for fellow B2B suppliers
XIN Gaming is set to expand its presence into the European online gambling market after acquiring fellow B2B suppliers Tain and Betting Promotion, it was announced this morning.
The Asian egaming supplier will assume control of the two Swedish companies, which merged in 2013, from Nordic Leisure which became the owner of nearly 95% of sportsbook supplier Betting Promotion in 2015.
No official figure for the deal was announced by XIN, but sources close to the matter told eGaming Review the transaction was worth approximately ?9m.
Mathias Larsson, XIN Gaming’s managing director, said today’s deal was a “milestone” for his company and forms a major part of its European expansion strategy.
“Through this deal we are targeting growth for XIN in Europe,” he told EGR.
“However, the major reason for the deal is that Tain is a good standalone company that we can turn profitable,” he added.
XIN Gaming was founded in 2014 and provides real-money and free-to-play online slots and table games, in addition to its remote gaming server which provides both in-house and third party games.