Betsson Returns to the Netherlands via $30M Holland Gaming Technology Acquisition

Online gambling group Betsson announced its re-entry into the Dutch market via the acquisition of Holland Gaming Technology and Holland Power Gaming. The EUR 27.5 million ($29.6 million) deal will allow Betsson to triumphantly return to the Netherlands after its exit several years ago.

The gambling group had to pull out from the newly-regulated Dutch market, which caused it significant financial hurdles. Betsson later applied for a license but eventually withdrew its application, saying that the licensing process had proven to be both lengthy and costly.

Instead, Betsson has now opted to re-enter the market by acquiring an existing licensee. For reference, Holland Gaming Technology operates the www.goldruncasino.nl and www.goldruncasino.com brands. Holland Power Gaming, on the other hand, is a game studio that develops exclusive casino games for Holland Gaming Technology, powering its brands with unparalleled proprietary content.

The Group Pursues Geographic Expansion

According to Betsson, the deal will see it pay the acquisition sum in cash on a debt-free basis. The company added that the acquisition is financed with its own liquid assets. Of the total sum, EUR 16 million will be paid upfront at closing. This will be followed by deferred payments of EUR 9 million and EUR 2.5 million in six months and twelve months respectively.

The deal is still subject to post-closing approval by the Netherlands’ gambling regulator, the Kansspelautoriteit.

Betsson concluded that the acquisition would allow it to expand its presence and secure a higher share of revenue from locally regulated markets. The re-entry into the Netherlands aligns with the group’s strategic ambition to deliver profitable growth through geographic expansion.

Speaking of geographic expansion, Betsson recently joined Groupe Partouche to launch an online casino in Belgium.

Betsson Is in a Good Spot

Betsson’s acquisition of Holland Gaming Technology comes in the wake of the publication of the former company’s favorable FY report. Betsson’s FY 2023 financials demonstrated the group’s resilience and organic growth and highlighted several record-breaking metrics.

The year saw Betsson reach group revenue of over a billion dollars and EBITDA of $283 million. The results were lauded by CEO Pontus Lindwall who said that Betsson is now looking forward to 2024 with confidence. In addition to a highly skilled team, the company boasts a strong financial position, proprietary technology and an attractive customer offering, which will allow it to distinguish itself from the competition, Lindwall noted.