It has been revealed by the internet gambling operator Betsson AB that it is planning to buy Nordic Gaming Group, the private gaming company, for an outstanding 65 million euros. This revelation came days after confirmed news regarding the creation of Angler Gaming, its latest subsidiary based in Malta. Speaking of which, it has been announced by Betsson a week ago that Angler Gaming is planned to target its focus on thirty non-core markets in different continents that included America, Europe and Africa.
Back to the main topic, as a result of the purchasing of Nordic Gaming Group, Betsson is on the right path to empower its operations in the Nordic region. It also works in its favor as it helps it keep and maintain its leading role and position between other internet gambling operators, especially private ones, in the Nordic region. These are the two reasons behind such transaction, as was stated by the Chief Executive Officer for President for Betsson, Magnus Silfverberg. He also added that the transaction would empower the brand profile and portfolio of Betsson, especially in the betting category. This is due to the fact that 50% of the revenue of the Nordic Gaming Group comes from sportsbook.
As for its plans on how to buy the Nordic Gaming Group, financially, Betsson revealed that it will buy it from members of management, employees, founders of the company and investors by paying 5 million euros that will be paid through shares. This rest will be paid throughout 10 day by the rate of 5 million euros average per day, or by paying the remaining 60 million euros left from the price in cash. On the other hand, for Nordic Gaming Group, this is a very lucrative offer. This way the company would be able to integrate the international strength of Betsson with its operations and activities in the Nordic Region, Poland and the Baltics. This will directly lead to the increase of the revenue as well as the reach and the appeal of Nordic Gaming Group. This was stated by the Chief Executive Officer for Nordic Gaming Group, Per Hellberg. He continued saying that the merging between the two companies is expected to be smooth and easy, as both companies are going to benefit from each other.
Nordic Gaming Group has been on an increasing slope when it comes to revenue. As its profits has increased by 37 % when compared to last year.