Betsson has chosen not to re-enter the Dutch market, having failed to gain post-closing approval from the Netherlands Gambling Authority (KSA) to complete two acquisitions. Previously, Betsson exited the Dutch market in September 2021, just prior to the market’s re-regulation in October 2021. In February 2024, Betsson announced plans to acquire Holland Gaming Technology Ltd and Holland Power Gaming NV for a total of €27.5 million.
The deal was structured with Betsson paying €16 million upfront, followed by deferred payments of €9 million and €2.5 million due in six months and 12 months, respectively. Without the KSA’s approval post-closure, however, Betsson has opted to “pursue other business opportunities.” The company will now return the businesses to the original sellers and will be compensated the purchase price less a break fee.
Holland Gaming Technology Ltd is involved in operating through websites, while Holland Power Gaming BV specializes in providing casino games exclusively to the operator.
A statement from Betsson confirmed the termination of the acquisition agreement and the pursuit of alternative business ventures. “The agreement to acquire Holland Gaming Technology Ltd and Holland Power Gaming BV was initially announced on 19 February 2024. As highlighted in the press release, the completion of this acquisition was contingent upon approval from the Dutch Gambling Authority. With no decision made by the specified long-stop date, Betsson has opted to reverse the transaction. Therefore, Holland Gaming Technology Ltd and Holland Power Gaming BV will revert to the sellers, with the purchase price, reduced by a break fee, refunded to Betsson. This reversal of the transaction is not expected to significantly affect the group’s consolidated income statement.”
In an April interview with EGR, CEO Pontus Lindwall discussed future merger and acquisition opportunities following the company’s acquisitions of Bukmacherska in Poland and Betclic in Italy. Prior to the regulation of the Dutch market, Betsson operated Oranje Casino and Kroon Casino. Although the company initially applied for licenses from the KSA, it later withdrew its applications due to delays.