Sweden’s Betsson has acquired Georgian online and land-based gaming operator Europe-Bet for an initial purchase consideration of US$50m, with a further $35m to be payable after one year as long as gaming regulations in the country remain unchanged.

Betsson said that the deal strengthens its strategic position in the region, with Europe-Bet the second largest operator in the regulated Georgian market with close to a 30 per cent share, behind only Adjarabet.com.

"Europe-Bet has established a strong brand with a competitive multi-product offering in the locally regulated market of Georgia,” said Betsson CEO and president Magnus Silfverberg. 

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