29 June 2015
G&D advises Betsson in acquisiton of a leading gaming operator in the Georgian market
Betsson AB (publ), which is listed on Nasdaq Stockholm Large Cap, acquires the privately owned gaming operator Europe-Bet, based in Georgia, from a group of entrepreneurs.
Europe-Bet is licensed in, as well as targeting, the regulated Georgian market, and has both online operations and landbased business. As a result of the acquisition, Betsson is becoming the second largest local online gaming operator in Georgia, strengthening its strategic market position in the region. Betsson acquires the company from the sellers for an initial purchase consideration of USD 50 million. In addition to the initial purchase consideration, a remaining amount of maximum USD 35 million may become payable after one year based on that the gambling regulation in Georgia remains unchanged.
Gernandt & Danielsson has advised Betsson with a team consisting of Partner Krister Skoog and Associate Oscar Anderson. PwC and Dechert Georgia LLC have also advised Betsson in connection with the acquisition.