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Betsson AG has completed its acquisition of premium Belgian sports betting and gaming operator beFIRST. The agreed up-front for the deal is EUR 117 million, of which up to EUR 3 million will pay up as earnouts. All transactions for the acquisition will be in cash.
beFIRST has been providing services in the locally regulated gambling industry in Belgium since 2011. The operator has a proven track record of successful customer acquisition and revenue growth. Besides offering sports betting and dice games, the company runs around 450 points of sale across Belgium and an arcade.
Partnering with the French-based casino, Groupe Partouche will combine Betsson’s top-notch solutions with the operator’s rich experience in land-based casinos. Groupe Partouche runs established land-based casinos in France and Switzerland and an offline casino license in Belgium. The good thing about this license is that it can be extended to cover its full range of online casino products.
The recent collaboration with Groupe Partouche and the acquisition of beFIRST will cement its presence in the Belgian market and boost its revenue share. The operator has promised to keep the operations at beFIRST while exploring other potentials.
Pontus Lindwall, CEO and President of Betsson AB, said: “We are very excited about entering the Belgian market together with our partners Groupe Partouche and see a strong strategic fit with the acquisition of betFIRST. At Betsson, our growth strategy revolves around extending our presence into new markets, particularly in locally regulated or soon-to-be regulated markets. Belgium, where the online gaming market is regulated since 2011, aligns very well with this strategy. Our business model is highly scalable, and these initiatives will add revenue and strengthen our profitability over time.”