Unibet completes iGame Group acquisition
Stockholm-listed operator finalises 59m deal for the Scandinavia-focused multi-brand firm
Unibet has finalised its 59m (£43m) acquisition of iGame Group in a boost to the Stockholm-listed operator’s position in the Scandinavian egaming market.
Completion of the deal was confirmed by Unibet yesterday and marks the operator’s second major acquisition of the year following its £19m purchase of Stan James’ digital business in July.
Unibet has paid the 59m in cash up front after securing a new 120m credit facility, while iGame Group may also receive additional earn-out payments up to a cap of 20m based on the firm’s financial performance for the period up to 30 June 2016.
The deal, first announced early last month, will see the iGame Group’s various localised online gaming and sports betting products continue to operate under their respective brands and its current management team remain in place.
The Malta-based operator recorded gross winning revenues of 13.7m for the six months ended 30 June 2015 as well as EBITDA of 4.7m off after adding an additional 75,000 customers during the period.
Yesterday’s announcement comes after eGaming Review recently revealed Unibet had appointed former NYX Gaming commercial manager and head of poker Fredrik Kjell as its new head of gaming.
Read eGR‘s recent interview with Unibet CEO Henrik Tjärnström here