Betsson’s latest agreement will bolster its presence in the Netherlands, a strategic move financed through the group’s own liquid assets.
The deal, valued at €27.5 million, will be settled without any existing debts.
Of this amount, €16 million will be paid upfront, with the remaining €9 million and €2.5 million to follow in six and twelve months, respectively.
Previously, Betsson seemed to be scaling back its operations in the Netherlands, withdrawing its application for an online gambling licence in July 2023 due to prolonged approval procedures.
However, a shift in strategy now sees Holland Power Gaming continuing to supply games exclusively for Holland Gaming Technology, the holder of a casino gaming licence in the Netherlands.
In a statement, Betsson highlighted that this deal will “contribute to a higher share of revenue from locally regulated markets,” aligning with their strategy for profitable growth through geographic expansion.
This announcement comes on the heels of Betsson’s record-breaking 2023, where revenue surged by 22% to €948.2 million.
EBITDA saw a significant increase of 52% to €262.7 million, with an EBITDA margin of 27.7%, up from 22.2% in the previous year.
Operating income (EBIT) also soared by 60% year-on-year to €210.5 million, with an EBIT margin of 22.2%, an improvement from 16.9% in 2022.
Casino revenue particularly stood out in Q4, rising by 25.1% year-on-year to €182.8 million, representing 72% of group revenue.
Earlier this month, Betfirst, a sports betting and gaming operator acquired by Betsson last year, launched its online casino in Belgium.
Betsson acquired the Belgian Betfirst Group for €120.0 million in June 2023, alongside a partnership with Groupe Partouche for access to Belgium’s online casino market.
Betfirst obtained an A+ casino licence through its agreement with Middelkerke Casino, aiming to establish itself as the leading operator in the country’s online casino sector.
This expansion into online casino follows Betsson’s collaboration with French casino operator Groupe Partouche, initially targeting the Belgian market before venturing into other regulated territories like France and Switzerland.
Groupe Partouche operates land-based casinos in both countries, with online casino legal in Switzerland and anticipated to be legalised in France soon.
Betsson’s strategic moves also include securing an online sports betting licence in France in September 2023 and entering the Serbian market earlier that month.