MegaBet Plus is a licensed retail and online sports betting operator in Cyprus with a nationwide network of more than 200 locations
Stockholm-listed EMB Mission Bound (formerly LL Lucky Games) has entered into an agreement to acquire a majority stake in Cleverpath Holdings, operator of the MegaBet Plus retail and online sportsbook in Cyprus.
The deal will see EMB acquire a 51 per cent share in MegaBet Plus from existing majority shareholder Dennis Ang for a preliminary purchase price of €4.1 million (approx. SEK 45.6 million), subject to customary adjustments.
The consideration will be settled entirely through the issuance of a promissory note to be set off against newly issued shares in EMB.
Founded in 2007, MegaBet Plus operates a retail network of more than 200 locations in Cyprus and holds Class A (Retail/Land-based) and Class B (Online/Remote) sports betting licences issued by the National Betting Authority.
“MegaBet Plus brings an established local presence and operating experience that complement EMB’s software capabilities,” said EMB Mission Bound executive chairman Calvin Lim. “We see an opportunity to connect product development more closely with how the business operates and serves its customers. Our focus is on building on these strengths over time and creating sustainable value for shareholders.”
The agreement includes a put option entitling the seller to require EMB to acquire an additional 39 per cent of the shares in Cleverpath for an aggregate consideration of €2.67 million, exercisable during the period commencing twelve months and ending fifteen months after the closing date.
Completion of any such exercise is conditional upon EMB having the legal and regulatory capacity to satisfy the put price in cash, newly issued EMB shares, or a combination thereof.
In 2024, MegaBet Plus generated EBITDA of approximately €1.77 million and net profit of €330,000. The financial statements for 2025 are currently under audit and will be disclosed following completion of both the audit and the acquisition.
MegaBet Plus CEO Dominique Laconico commented: “From the beginning of our discussions with EMB, we saw an opportunity to combine the strengths of two complementary organisations. MegaBet Plus has spent many years building a trusted retail presence and strong local market position.
“Working with EMB gives us access to broader technology, digital expertise and operational capabilities that can support our ambition to grow online while continuing to strengthen the retail business. This is about building on what already works and creating a stronger, more connected MegaBet Plus for the future.”
Closing of the transaction is subject to the receipt of relevant approvals from the Cyprus National Betting Authority and is expected to occur during the first quarter of 2027.
Shares in EMB Mission Bound AB (STO:EMB) were trading 7.43 per cent lower at SEK0.55 per share in Stockholm Friday morning.