Gauselmann Group bags Bede Gaming acquisition

The Gauselmann Group has acquired Newcastle-based technology supplier Bede Gaming after purchasing a 75% stake in the business for approximately €100m.

The German casino giant was eager to gain access to proprietary technology ahead of Germany’s new-look market launching in 2021.

The deal will also see Gauselmann gain access to the US gambling market via Bede Gaming’s contract with the Ontario Lottery and Gaming Corporation.

“Bede’s technological expertise is very impressive, and its highly complex solutions are first choice for leading gaming companies, not only in the UK but around the world,” said CEO Paul Gauselmann.

“This acquisition will allow us to significantly broaden the existing technology base within the Group and at the same time enable us to offer it to our customers and partners.”

Bede Gaming will continue to operate as an independent business under the Gauselmann umbrella while its management team, including CEO Michael Brady, will remain in place indefinitely.

Bede’s offices in Newcastle, Sofia and Toronto will remain operational.

Bede Gaming chairman Joe Saumarez Smith

“We are delighted that the Gauselmann Group has acquired a majority stake in Bede,” said Bede Gaming chairman Joe Saumarez Smith.

“Gauselmann’s long-term prospects and financial strength will allow us to further enhance our range of products and services to existing customers as well as win new business partners,” he added.

Oakvale Capital served as financial advisors for Bede Gaming throughout the process while Grant Thornton did the same for Gauselmann Group.