Betsson is unwinding its agreement to acquire Dutch gaming operator Holland Gaming and its in-house games studio Holland Power Gaming.
Betsson entered into an agreement to acquire Holland Gaming Technology and its exclusive games provider Holland Power Gaming for €27.5 million in February 2024.
The proposed acquisition of Holland Gaming, which operates the Goldruncasino.nl and Goldruncasino.com gaming sites, would have enabled Betsson to enter the regulated gaming market of the Netherlands.
Betsson said in a statement on Monday that it has terminated the acquisition agreement after failing to secure regulatory approval for the transaction within the allowed timeframe.
“Since the Dutch Gambling Authority has not issued a decision by the agreed long-stop date, Betsson has decided to unwind the transaction,” said the company.
“Therefore, the transaction will be reversed by Betsson, returning Holland Gaming Technology Ltd and Holland Power Gaming B.V to the sellers and the purchase price, less a break fee, will be repaid to Betsson.”
Betsson will be repaid €26.7 million by Holland Gaming and does not expect the unwinding of the acquisition to have any notable effect on the group’s consolidated income statement.
Shares in Betsson AB (STO:BETS-B) closed 0.27 higher at SEK186.00 per share in Stockholm Monday.