SBC News Voice of the Sports Betting Industry
Issuing a short market update, Stockholm-listed European sports betting operator Betsson AB (Betsson) has confirmed that it has issued a mandate to Nordic investment banks’ DNB Markets (Norway) and Swedbank (Sweden) ‘to arrange fixed income investor meetings starting 14 November 2016’.
The betting operator is seeking to secure a three-year bond issue (sum undisclosed), with the proceeds used to facilitate Betsson group’s ongoing ‘acquisition strategy, its refinancing debt and general corporate purposes’.
Ulrik Bengtsson, CEO and President of Betsson AB commented on the update
“Betsson has a clear acquisition strategy and we constantly review opportunities that could materialise in the short or medium-term. The planned bond issue creates increased financial flexibility for Betsson to continue to be active in the consolidation of the gaming sector”.
The operator continues its strategy of focusing its growth via acquisition in regulated markets. Betsson AB recent corporate acquisitions include the acquisition of TonyBet’s Lithuanian sports betting asset in for a total consideration of €4 million (deal completed September 2016).
Following a tough H2 2016 in which the company by severe currency fluctuations, Betsson governance declared that the operator was back on track following a successful Q3 2016 performance recording an operating income of €24 million.
Last October Betsson revealed a new brand refresh for its flagship division Betsson.com, launching the new tagline ‘Anytime’s Playtime’.
