Further strategic growth in Betsson’s sportsbook business is marked with the acquisition of 80 per cent of shares in Kicker Tech Malta from TG Holdings which amounts to €14 million on a cash and debt free basis. This acquisition will be equity funded and Betsson will pay €6 million in cash immediately with the remaining €8 million settled in tranches on a cash or shares basis after six and 12 months consecutively.
KickerTech is made up of a team of 50 professionals based in Lithuania specialising in trading technology and modelling tools that also develop stress testing to support sportsbook features. In the last 12 months Kicker Tech generated revenue of approximately €2.6 million and EBIT of around €1.3 million.
Through this acquisition Betsson will further consolidate its sportsbook. It will continue to expand its B2B growth strategy in key markets by opening up more opportunities for its client base with the use of scalable technology supported by advanced trading and modelling tools.
”We continue to grow our sportsbook business around the world and this deal will strengthen our position as one of the leading B2C sportsbook operators in the market and complement our highly competitive B2B sportsbook proposition,” said Pontus Lindwall, CEO of Betsson, on welcoming Kicker Tech’s team of specialists to the group.
In its third quarter 2022 results Betsson reported an increase of 18 per cent in group revenue to €200.3 million which included an organic increase of 35 per cent. Casino revenue increased by eight per cent and sports book revenue increased by 45 per cent. EBITDA was €48.6 million, an increase of 19 per cent.
Betsson is one of the largest online gaming companies in Europe and is listed on Nasdaq Stockholm (BETS). Its brands operate under licenses held in Malta, UK, Sweden and Germany. Betsson intends to integrate its own proprietary sportsbook and payment platforms.
KickerTech was founded 12 years ago and offers B2B sportsbook solution from building mathematical modelling and data analytics with the use of artificial intelligence to complex managed trading services by a large team of experts. Its services are currently used by 40 global partners to expand to new and emerging markets.
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