Betsson AB has acquired Oranje and Kroon, a private online gaming group based in Malta, consisting of Oranje Casino, Kroon Casino and an affiliate business.
The companies, which have 209,000 registered customers, primarily target the Dutch market, but Kroon Casino also has a presence in Belgium.
“With this €100 million 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.
“More than 25 per cent of the group’s total profit would come from locally-regulated markets. The deal also gives Betsson a larger and more significant presence in continental Europe,” said Magnus Silfverberg, president and CEO of Betsson.
In 2013, Oranje and Kroon revenues amounted to €32.5 million with an EBIT of €22.1 million, equivalent to an EBIT margin of 67.8 per cent.
In addition to incremental earnings, the transaction brings more than 300 new domains, a Belgian licence and a number of proprietary developed and exclusive casino games.
Betsson is considering a further €45 million investment, based on the anticipated re-regulation in Holland.
The acquisition is subject to customary regulatory approvals, and closing is expected to take place during first quarter 2014.