Betsson to Buy Nordic Gaming Group for €65 millionNordic and Baltic Gaming and Poker Consolidation Continues |
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Betsson Plc has announced its plans to purchase the Nordic Gaming Group which owns the Nordic Bet, Tobet and Trobet brands all of which offer online poker.
The company will pay €65 million for the businesses of which €5 million will be in Betsson shares.
Magnus Silfverberg, chief executive officer and president of Betsson, said, "Through this transaction, Betsson continues to strengthen its Nordic operations and its leading position amongst the private gaming company alternatives in the Nordic region.
“In addition, Betsson’s brand portfolio is strengthened significantly within the betting segment, as NGG receives approximately fifty percent of its revenues from sportsbook.”
Betsson had overall revenue of €55 million in 2011.
Nordic Gaming Group revenues from April 2011 to March 2012 were €50 million. The company has 90,000 customers and 185 employees.
The move comes in the wake of the announcement that Unibet was to acquire Bet24 to strengthen its position in the Danish market.
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