Betsson agrees to acquire Nordic Gaming Group
Purchase price for Maltese-based operator is 65m.
Swedish operator Betsson has made a second significant acquisition in the Nordic market within the last year by agreeing a 65m purchase price for Nordic Gaming Group (NGG).
The Malta-based and company operates brands including NordicBet, TrioBet and ToBet, and has a predominantly Scandinavian and Baltic player base, allowing Betsson to extend its market share in its home and neighbouring territories.
Betsson’s acquisition of NGG follows its purchase of Betsafe last year for an initial outlay of 32.5m, rising to 60m. The bulk of the purchase price for today’s deal will be paid in cash with the remaining 5m in shares.
It also follows Betsson’s announcement earlier this month that it was to set up a new subsidiary, Angler Gaming, focused on its non-core markets in South America, Africa and Eastern Europe.
The deal is one of a number in the region in the recent past, emphasising a period of consolidation around the regulation of the Danish market at the turn of the year, with Unibet acquiring Bet24 this month and Sportingbet agreeing deals for Danbook and Scandic at the end of last year.
“Betsson’s brand portfolio is strengthened significantly within the betting segment, as NGG receives approximately fifty percent of its revenues from sportsbook,” explained Betsson CEO Magnus Silfverberg (pictured), describing the deal as allowing the operator to strengthen “Its leading position amongst the private gaming company alternatives in the Nordic region.”
NGG chief executive Per Hellberg described the deal as “an attractive solution”, adding that: “The two companies have similar cultures, and we foresee a smooth integration, and we believe that we can quickly benefit from each other’s strengths.”