Online casino operator Glitnor Group has secured financing of €55 million to support its growth and mergers and acquisitions strategy.
The funding from HG Vora Capital Management will be used for product development and operational expansion, as well as to pursue M&A opportunities.
“This financing marks a significant milestone for Glitnor as we continue to scale our business across regulated markets and deliver value to our customers,” said Glitnor Group CEO Richard Brown. “The support from our financing partners underscores the strength of our current positions as well as the opportunities to accelerate growth, operating power and profitability.”
“Securing this debt facility demonstrates both our strong financial profile and the market’s confidence in our future,” Brown added. “We are excited about the opportunities ahead and remain committed to delivering sustainable growth.”
HG Vora said that the investment reflects its confidence in Glitnor’s performance, business model and long-term vision.
“We have been thoroughly impressed with Glitnor’s growth trajectory and the operational excellence underpinning its success,” explained Parag Vora, founder and portfolio manager of HG Vora.
“The company has established itself as a dynamic operator in the online gaming sector, and we are excited to provide a bespoke capital solution to accelerate its momentum. This investment reflects HG Vora’s conviction in both Glitnor’s strategy and the significant opportunities in regulated online gaming markets globally.”
Malta-based Glitnor Group operates the LuckyCasino, HappyCasino, FlaxCasino and Vera&John online casino brands, as well as the game development studio Swintt.