Scandinavian online casino operator Mr Green announced today (Wednesday) that it had struck a deal to acquire MyBet Italia.
The takeover, which was undertaken by Mr Green’s online casino, will allow the company to enter the regulated Italian market.
The deal is subject to the approval of Italian gaming regulator AAMS, but Mr Green expects to launch its online casino in Italy in the second quarter of this year.
Mr Green will finance the acquisition through existing cash assets. The Italian venture is not expected to generate a positive turn before the end of this year.
“The acquisition presents an exciting opportunity to enter the Italian market,” Mr Green chief executive Mikael Pawlo said.
“It is the group’s strategy to conduct operations in several regulated markets and to strive to increase the portfolio’s share of revenue from regulated markets to significant levels over the next few years.
“While this will entail lower risk and greater marketing opportunities, it will also mean that licence costs will vary according to the market.”
source : www.igamingbusiness.com
