Betsson Buddies with BetsafePublished May 16, 2011 by OCR Editor
Nordic gaming companies join forces to gain bigger market shareץ
In breaking news this week, the Nordic operator Betsafe has been acquired by the Betsson Group in a strategic move that it is set to boost the growth of both companies.
Betsson owns and operates the successful Betsson Casino, Betsson Poker and Betsson Sportsbook.
Betsafe operates the Betsafe Sportsbook.Competitive Market
"We strengthen our position in the Nordic region," says Pontus Lindwall, Betsson CEO, "as well as our organisation when merging two profitable companies, each of which has proven its ability to gain market share in a highly competitive market environment." The already successful companies share a common vision to further develop and become the largest and most profitable players in the market.
For the most part it will be business as usual for players and affiliates alike with Betsafe's strong promotional scheme continuing on the same course. Even Betsafe's staff and management team will stay on board.The Business Deal
Betsafe is a privately owned operator and the deal is reported to have valued it at up to €60m (£52.2m).Betsson will pay an initial €32.5m in cash and shares for Betsafe, with a further €27.5m payable conditional on the development of the acquisition and the integration thereof during 2011.
Betsafe is listed on the Stockholm stock exchange and has posted enviable profits in the past years. Apparently it managed to increase revenues nearly 120% during 2010.
Both Betsafe and Betsson hold operating licences in Malta and sit on the Ongame poker network.