Betsson adds €75m bond to M&A war chest

Betsson AB has bolstered its M&A options by completing a senior unsecured bond issuance of €75m.

The €75m bond is authorised under a larger framework, which provides Betsson access to capital of up to €250m.

The transaction is set at a three-year tenor, with the bond’s maturity date scheduled for September 2026. The interest rate is based on EURIBOR for three months plus 460 bps.

Nordea acted as the global coordinator, with both Nordea and Swedbank serving as joint bookrunners in connection with the issue. Gernandt & Danielsson acted as legal counsel.

Corporate governance of the Stockholm-listed igaming group cited that “proceeds will be utilised for general corporate purposes, mainly acquisitions.”

“The new bond provides us with additional financial flexibility and supports Betsson’s long-term strategy,” Betsson CFO Martin Öhman said. “This means continued investments to drive profitable growth.” 

Trading in the first half sees Betsson operate with confidence, as its business continues to achieve consecutive record ‘all-time high’ results, generating a peak profit of €98m.

Group CEO Pontus Lindwall underlined the growth in CEECA and LatAm markets as “outstanding growth drivers” for the business, which continues to eye M&A options within new markets.

However, new market developments are needed to offset likely European headwinds and regulatory adjustments in the markets of Norway, Finland, Sweden, Germany, Belgium, and Estonia, as noted by corporate governance.

Further corporate directives see Betsson advance the development of its B2B unit for sportsbook and online casino partners. 

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