Ekstra Bladet is poised to acquire Swush.com, pending approval at the Danske Spil general meeting, with the transaction set to close on January 31st.
The purchase price for this acquisition remains undisclosed as per the agreement between Danske Spil and Ekstra Bladet.
Swush.com, known for offering fantasy sports services in Denmark, is also the parent company of Holdet.dk, a prominent sports management games provider.
The co-founders of Swush.com, Jesper Carstensen and Ole Christensen, will retain a 40% stake in the business, while Danske Spil will maintain a 60% ownership share.
Following the acquisition, Holdet.dk will continue to operate independently under the Ekstra Bladet brand. Holdet.dk presently boasts over 200,000 users throughout Denmark.
Christensen, the Managing Director of Swush.com, expressed pride in the success of Holdet.dk, which they co-launched in 2009, offering a popular game universe for countless sports enthusiasts. Christensen looks forward to collaborating with Ekstra Bladet and Bold.dk to enhance the enjoyment of sports for even more fans.
Ekstra Bladet’s Commercial Director, Signe Skarequist, also expressed enthusiasm for the new venture, describing Holdet.dk and Ekstra Bladet as a “perfect match.”
She noted the potential for further development and growth in Holdet.dk’s strong market position.
Nikolas Lyhne-Knudsen, the CEO of Danske Spil, praised Swush’s success during their more than eight and a half years of ownership, highlighting the progress made in recent years. He expressed happiness in finding a suitable new home for Holdet.dk under Ekstra Bladet, which aligns better with the company’s strategic goals.
The success of Swush was evident in Dankse Spil’s Q3 results posted in November, with a 10.0% year-on-year revenue increase to DKK 11.0 million.
Dankse Spil’s overall group revenue also rose by 2.4% to DKK 3.69 billion, driven by a 3.1% increase in Danske Lotteri Spil revenue to DKK 2.07 billion.
Danske Klasse-lotteri revenue saw an impressive 39.7% increase to DKK 183.0 million.
In contrast, revenue from Danske Licens Spil, which includes sports betting and online casino services, declined by 1.6% to DKK 1.21 billion.
Elite Gaming, the gaming hall business, reported a 2.7% decrease in revenue to DKK 217.0 million.