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Betsson is set to re-enter the Netherlands after acquiring a Dutch-licensed B2B and B2C iGaming company in a deal worth €27.5m.

Holland Gaming Technology Ltd is an online gambling operator with a B2C licence in the Netherlands, while Holland Power Gaming B.V. is an online game studio which develops content for the B2C operation.

Holland Gaming Technology operates games via two different websites in the Netherlands, goldruncasino.nl and goldruncasino.com.

Acquisition details

Betsson announced today (19 February) that it has agreed to acquire both businesses for €27.5m on a cash-free, debt-free basis.

The acquisition will be financed with Betsson’s own existing liquid assets, the company said.

Of the total consideration, €16m will be paid upfront upon closing, with further deferred payments of €9m and €2.5m to be paid after six and 12 months, respectively.

The acquisition remains subject to post-closing approval by the Netherlands Gambling Authority (KSA).

The integration of the business into Betsson’s operations is expected to contribute to a higher share of revenue from locally regulated markets, the firm said, and is in line with its strategic ambition to deliver profitable growth through geographic expansion.

Betsson in the Netherlands

Betsson withdrew from the Netherlands’ grey market in 2021, when it committed to no longer accepting Dutch customers on its international websites ahead of the introduction of the country’s licensed market.

After the licensed market launched, Betsson applied for a licence in the country, before eventually withdrawing its application in July 2023.

At the time, the company said the process of securing a licence proved to be too lengthy and costly, following “significant delays” in the process.

“The group still maintains the possibility of reapplying for a licence in the future,” it added at the time.

By acquiring an already-licensed business in Holland Gaming Technology, the operator should now be able to re-enter the market in a streamlined way.

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