Betsson AB has acquired a private online gaming group ("Oranje and Kroon") based in Malta consisting of Oranje Casino, Kroon Casino and affiliate businesses.

The companies are primarily targeting the Dutch market, but Kroon Casino also has a presence in Belgium.

"With this acquisition, Betsson gains a strategic position in the Netherlands and becomes one of the biggest players on the Dutch market which is expected to be re-regulated during 2015. This would give Betsson’s profits from locally-regulated markets exceeding 25% of the group’s total profit. The deal also gives Betsson a larger and more significant presence in continental Europe", said Magnus Silfverberg, President and CEO of Betsson.

In 2013, revenues in Oranje and Kroon amounted to €32.5 million with an EBIT of €22.1 million, equivalent to an EBIT margin of 67,8%. Registered customers amount to 209 000.

In addition to incremental earnings, the transaction contributes with more than 300 new domains, a Belgian licence and a number of proprietary developed and exclusive casino games. Betsson acquires Oranje and Kroon from three entrepreneurs.

Betsson acquired a combination of shares and assets from the sellers for an initial purchase consideration amounting to €100 million (enterprise value), of which €60 million are payable in Betsson shares and the remaining 40 million is payable in cash.

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