Betsson Expands European Footprint with BetFirst Acquisition and Partouche Partnership
Betsson, a prominent online gambling firm, is expanding its European presence significantly. They recently purchased BetFirst, a Belgian sports wagering and gaming enterprise, for a substantial €120 million. The agreement also includes a possible supplementary payment of up to €3 million if BetFirst achieves specific objectives. This acquisition is a tactical triumph for Betsson, providing them with a solid position in the regulated Belgian market.
Furthermore, Betsson is collaborating with the French casino powerhouse, Partouche Group. They are jointly introducing a novel online casino platform tailored for the Belgian market. Partouche, with its vast expertise in managing physical casinos throughout Belgium, France, and Switzerland, already possesses the required licenses for online operations. This alliance is poised to disrupt the Belgian online casino landscape upon its launch later this year.
Pontus Lindwall, Betsson’s Chief Executive Officer, expresses enthusiasm about these advancements. He perceives the BetFirst acquisition as a strategic masterstroke and the Partouche collaboration as an exceptional chance to penetrate new and promising sectors. Lindwall believes this two-pronged strategy will not only elevate Betsson’s earnings but also reinforce its long-term profitability.
Betsson has engaged the investment banking firm, Lazard, to manage the financial aspects of this purchase. For legal counsel, they have retained Gernandt & Danielsson as their primary legal representatives. Additionally, Van Bael & Bellis along with Edson Legal are providing support to address the intricacies of Belgian regulations.
