Betsson is entering the regulated Dutch iGaming market after agreeing to acquire licensed operator Holland Gaming Technology and its exclusive games provider Holland Power Gaming for €27.5 million.
Holland Gaming Technology holds a license in the Netherlands to operate the Goldruncasino.nl and Goldruncasino.com sites, while Holland Power Gaming supplies casino games exclusively to the operator.
Betsson has paid a total consideration of €27.5 million to acquire the two companies, of which €16 million has been paid upfront, with deferred payments of €9 million and €2.5 million to be paid in six months and twelve months respectively.
The total consideration has been paid on a cash and debt free basis, and has been financed with Betsson’s own liquid assets.
“The acquisition will over time contribute to a higher share of revenue from locally regulated markets and is in line with Betsson’s strategic ambition to deliver profitable growth through geographic expansion,” said Betsson in a statement.
In the final quarter of 2023, Betsson’s revenue from locally regulated markets increased by 53 per cent to €115.7 million, equivalent to 45.9 per cent (Q4 2022: 34.2 per cent) of total group revenue.
Last year, Betsson withdrew its license applications in the Netherlands due to significant delays in the licensing process.
The acquisition is subject to post-closing approval by Dutch gambling regulator KSA.
Shares in Betsson AB (STO:BETS_B) were trading 2.31 per cent higher at SEK106.50 per share in Stockholm following the announcement Monday.