Glitnor Group secures €55 million financing to fuel M&A growth

Glitnor Group, which has its head offices in Sliema, Malta, has secured a new €55 million financing facility from hedge fund HG Vora Capital Management, in a move designed to accelerate its mergers and acquisitions strategy and strengthen its wider growth trajectory.

The funding will be used to support future M&A activity, as well as ongoing investment in product development and operational expansion across key markets.

Glitnor operates both B2C and B2B brands in the online gaming sector. The group runs four casino brands – Happy, Lucky, Flax and Vera&John – alongside its in-house game studio, Swintt. Employing over 200 people, it has established a leading position in Sweden while pursuing an ambitious global vision.

Glitnor CEO Richard Brown said the new debt facility places the company in a stronger position to take advantage of emerging opportunities in the online gaming sector.

“The support from our financing partners underscores the strength of our current positions as well as the opportunities to accelerate growth, operating power and profitability,” Mr Brown said. “Securing this debt facility demonstrates both our strong financial profile and the market’s confidence in our future.”

He added that the funding highlights confidence in Glitnor’s “performance, business model and long-term vision.”

HG Vora Founder and Portfolio Manager Parag Vora echoed this sentiment, saying the partnership is a strong endorsement of Glitnor’s operations and trajectory: “The company has established itself as a dynamic operator in the online gaming sector and we are excited to provide a bespoke capital solution to accelerate its momentum.”

The investment is the latest boost for Glitnor, which has been active on the M&A front. Almost one year ago, the group agreed to acquire OneCasino, an operator with a presence in several regulated European markets. The deal was finalised earlier this year.

In parallel, Glitnor last year also took a 37.5 per cent stake in New Jersey-based operator PlayStar, expanding its presence in the United States.