Betsson acquires Holland Gaming Technology for $29.6 million

Betsson acquires Holland Gaming Technology, a gaming operator, for 27.5 million euros. Along with that, the company took over Holland Power Gaming, which is a game studio. Incidentally, the gaming operator possesses a certification from the Netherlands. This will help Betsson spread its operations further within the Netherlands, with the finance side being looked into by the company’s own liquid assets.

The transaction was executed in a debt-free and cash-only fashion. As per the agreement, 16 million euros of the 27.5 million will be paid in advance, followed by 9 million euros and 2.5 million euros due in six and twelve months, respectively.

Betsson’s decision to cease operations in the Netherlands was believed to be the result of unsuccessful certification requests. Holland Power Gaming will continue to provide titles to Holland Gaming Technology under the current circumstances. The local certified markets, according to Betsson, will generate additional revenue as a result of the agreement.

Following the announcement of a highly profitable 2023, Betson recorded a substantial surge in revenue of 22%, totaling 948.2 million euros. In contrast to 2022, when it amounted to 172 million euros, EBITDA increased by 52% to 262.7 million euros in 2023. There was a rise in the EBITDA margin from 22.2% to 27.7%. The EBIT increased by 60%, according to Betsson, to reach 210.5 million euros. As a result, the margin grew from 16.9% to 22.2%. The total revenue generated from casinos increased by 25.1%, culminating in a value of 182.8 million euros. This constituted 72% of the total revenue generated by the group.

Following its acquisition by Betsson in February, betFIRST, a sports wagering and gambling operator, launched an online casino in Belgium. A 120-million-euro agreement was reached in June 2023. An additional partnership was established with Groupe Partouche to facilitate gaming connectivity within the iCasino sector in Belgium. The agreement between the new online casino and the Middelkerke Casino resulted in the latter obtaining an A+ certification. betFIRST forayed into the iGaming industry after achieving the first operator certification in Belgium for online wagering.

Following its partnership with Groupe Partouche, a French casino operator, Betsson subsequently expanded its portfolio to include an online casino. At the outset, it was hypothesized that the organization was inclined towards Belgium, potentially expanding into additional authorized markets subsequently. Groupe Partouche conducts business in France and Switzerland, among other countries, via tangible casino establishments. While online casinos are permitted in Switzerland, this is not the case in France.

Following its strategy to penetrate the Serbian market, Betsson successfully obtained certification in September 2023 to offer online sports wagering in France.

Maxine Klingensmith

Maxine holds a bachelor degree in journalism, and she has worked as a freelance writer with foremost publications. Recently, Maxine has joined our team as a news editor. As she is passionate for casino and gambling industry, she conventionally contributes the latest news and reviews for casinos.

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