Grupo Orenes completes merger with R. Franco
Two firms join forces as changes to land-based gambling regulation loom in Spain
Grupo Orenes has finalised a merger with R. Franco to consolidate its position as one of leading gambling companies in the Spanish market.
Grupo Orenes will absorb R. Franco, with the latter retaining its brand under the Grupo Orenes umbrella.
The two companies hold a close relationship, with 50% of Grupo Orenes belonging to Fajosa 2000, the company owned by the family behind R. Franco.
Financial details of the merger were undisclosed, although the newly formed company is expected to post turnover in excess of €700m (£587.9m) next year.
Grupo Orenes has traditionally developed land-based slot machines and casinos but has since branched out into the online B2B and B2C sectors via its sportsbook, Versus.
Franco similarly works within the land-based sector but also offers online casino and sports betting, as well as producing slot titles on a B2B basis.
Eliseo Orenes, Grupo Orenes president, said: “This union reinforces us and guarantees our future positioning as one of the main global operators in the sector.
“We are going to continue working to improve the experiences of our clients and generate value for society as a whole,” he added.
Jesús Franco, R. Franco president, commented: “This merger strengthens us in the face of the challenges we want to tackle and assures us of a promising future.”