Redbet Gaming Limited sold to Bonnier Gaming
Swedish online gambling operator Nordic Leisure AB has announced that it has agreed to sell its Redbet Gaming Limited subsidiary including the Redbet.com, Whitebet.com, Heypoker.com and TotalPoker.com brands to Bonnier Gaming AB.
Formerly known as Redbet Holding AB and also the firm behind the OptiBet.lv, and GoldClubCasino.com domains, Stockholm-based Nordic Leisure stated that the sale is ‘a step in the group's strategy to focus on markets in Eastern Europe’ through its operational headquarters in Riga, Latvia, and is subject to receiving the relevant approvals from Malta’s Lotteries and Gaming Authority regulator.
“We are pleased that through this business we found a very good new owner for our Maltese business and this transaction creates conditions for us to fully focus on the markets of Eastern Europe in accordance with our plans,” said Claes Hallen, Chief Executive Officer for Nordic Leisure.
Nordic Leisure declared that the sale is being made on a debt-free basis and will see it initially receive approximately SEK37.5 million ($47.8 million) for Redbet Gaming although future cashflow is expected to be impacted by as much as 40 percent.
“We are proud and excited that the acquisition is underway,” said Marcus Forsell, Chief Executive Officer for Malta-based Bonnier Gaming.
“Redbet Gaming has long been going strong in the Nordic market. We hope that together as part of Bonnier Gaming we can develop Redbet Gaming to even greater heights.”