Rival CEOs explain reasons for Nordic shopping spree and where it goes next

Mergers and acquisitions have come thick and fast in the Nordic region in recent weeks. First Unibet bought Bet24,  the online gaming company of Sweden’s Modern Times Group, for €13.5m. Then Betsson marched into the fray with its €65m acquisition of Nordic Gaming Group (NGG) and its NordicBet, Tobet and Triobet brands.

“Betsson and Unibet are spurring each other on,” says a source with links to both companies.

The statement raises a laugh from both Betsson CEO Magnus Silfverberg and his counterpart at Unibet Henrik Tjärnstrom but the jollity fails to disguise the competitive tension between them.

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