European sports betting operator Betsson AB is eyeing expansion into the Eastern European sports betting markets with the potential acquisition of Georgia based operator Europe-Bet.
Igaming news source EGR Magazine had speculated last week that Betsson governance were preparing a €100 million acquisition for Europe-Bet. Its is believed that both parties have been in advanced discussions for a number of weeks, and that Europe-Bet have offered deal exclusivity to Betsson
Tbilisi based Europe-Bet has operated sports betting and igaming products for the Georgian market since 2010, the operator has a Georgian licence under holding company Chempionebi 111. In 2014 Europe-Bet recorded EBITDA earnings of approximately €18 million.
In its latest yearly performance report Betsson AB posted record 2014 earnings of SEK 770.6 million (£60.3 million), The operators governance are keen to expand the company’s operations and services into new regulated markets
Betsson CEO Magnus Silfverberg and governance are thought to be on the lookout for potential corporate acquisitions to add to Betsson’s current igaming and sports betting portfolio. In 2014 the operator acquired Dutch focused igaming brands Oranje and Kroon Casino.
If approved Georgian Europe-Bet will be added to Betsson AB’s industry portfolio which at present includes – Betsson, EuroCasino, casino.dk, triobet, Nordicbet, MrSmith, and betsafe.