Betsson: We are ready to complete multiple acquisitions
Operator tells EGR it has "specific targets in mind" as it looks to issue a new bond to finance its acquisition strategy
Betsson has confirmed it has set its sights on “specific” acquisition targets after the operator yesterday announced plans to issue a new three-year bond to finance its M&A strategy.
The Stockholm-listed company is looking to go on the M&A trail once again after revealing plans to issue a SEK dominated bond and mandating investing banks DNB Markets and Swedbank to arrange investor meetings.
And according to a spokesperson, Betsson already has “specific targets in mind” and could complete “multiple acquisitions” of companies in regulated or soon-to-be regulated markets.
“It can be operators with strong brands, an interesting customer base and third party tech providers â in that case we would have instant synergies,” the spokesperson told EGR.
“It could also be a company that holds a gaming licence or has a certain technology or product that we believe would strengthen our offer.”
Betsson has completed a number of acquisitions in recent years to bolster its multi-brand portfolio, and most recently strengthened its position in the Baltics with a 6m (£5.1m) deal for TonyBet’s Lithuanian business.
Last year the operator also acquired Georgia-facing operator Europe-Bet in a deal worth up to US$85m, while in 2014 it bought Netherlands-facing brands Oranje and Kroon for around 130m.