Betsson expands Latam presence with $25m acquisition

Betsson has sealed the $25m acquisition of Latam-facing operator Inkabet as it continues to ramp up its presence in the region.

The agreement will see Betsson acquire all the business activities, operations and related assets of Inkabet.

Betsson will pay an initial $25m for the operator, with a further fee of up to $4m payable depending on Inkabet’s performance regarding revenue and EBITDA target during the six months following closure of the agreement.

There is also a deferred payment of $5m to be made, with $3m to be made by 31 December 2022 and the remaining $2m due by 31 December 2023.

Betsson said the full purchase price is the equivalent of 3.8x Inkabet’s EBITDA over the last 12 months ending June 2021.

The B2C business, which was launched in 2012, operates both sportsbook and casino products in western Latam, with the operator posting revenue of $25.2m for the 12 months ending June 2021.

The acquisition of Inkabet follows Betsson’s concentrated strategic M&A efforts in Latam during 2021.

The Stockholm-listed operator is due to go live in Mexico via a local partnership with casino operator Big Bola, while it also completed an $8.8m deal to acquire a 50% stake in software developer JDP Tech in April, which processes payments in Latam.

Pontus Lindwall, Betsson AB CEO, said: “Through this transaction, Betsson continues to build market share in the Latam region, following the previous acquisitions of JDP Tech Ltd, Suaposta and Colbet.

“This strengthens our position in a strategically important region where we have performed well and have big ambitions for the future,” he added.