Betsson is buying Betsafe
betsafe, betsson, entraction, ITG, No Deposit Bonus, ongame, poker.
Posted on Friday, May 13, 2011 by "M".
It's been recently announced that stock listed Betsson is buying privately owned Betsafe. Betsafe which was established in 2006, has been focused on the nordic market and most of their turnover has been acquired from their high class casino products and a very well respected sports book. According to di.se, Betsafe increased their revenue with 119 percent between the 1st of May 2010 and the 30th of April 2011 which resulted in an operating profit of approximately €6.9 million.
Both companies are licensed by the Lotteries and Gaming Authority of Malta and both poker rooms are powered by the Ongame Poker network although Betsson also offers the Entraction poker product which was recently bought by ITG in early May 2011.
The purchase price for Betsafe is €32.5 million, half in cash and half in Betsson stocks, but according to SunHerald.com "an additional purchase price, based on the development of the acquisition and the integration thereof during 2011, may become payable by Betsson. Such additional purchase price, if any, will amount to a maximum of EUR 27.5 million, which implies that the total maximum purchase price is EUR 60 million".
Pontus Lindwall, CEO of Betsson states "This deal will fuel our growth. We strengthen our position in the Nordic region as well as our organization when merging two profitable companies, each of which has proven its ability to gain market share in a highly competitive market environment".
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4 comments for "Betsson is buying Betsafe"
| SuperNoob||5/13/2011 2:18:37 PM GMT|
| hmm thought they had already acquired it thru private shares..|
hopefully the merger will make the network and the site more stable and help them grow in the poker market.
| Macubaas||5/13/2011 7:37:03 PM GMT|
| I think this is a really good news both for the poker players that play on the betsafe poker platform but also for the owner of betsafe. I know the majority of players on betsafe are indeed from nordic countries mainly, countries like Denmark, Sweden, Finland or Norway.|
Since their marketing was focused from 2006 till now on nordic countries it's normal that they also have a lot of members from that area. On the other hand friends that have poker accounts on this platform say that the level of skill found on players is really high and its not that easy to book big profits when compared to sites like the ipoker network for example. I also think this is a good thing for all the players that have an account on the betsafe poker platform.
| JazzyJeff||5/14/2011 1:29:43 AM GMT|
Don't know about their poker department, but in the gambling/betting market
they"ll become an even stronger player then they allready were
| scaramoes||5/15/2011 10:22:41 AM GMT|
| i hope that this is good news for Holland internet.|
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