Swedish gambling products suppliers Betsson have entered the online gambling market in Spain by buying licensed local online operator Premier Casino. The company already operates several European online casinos through its Maltese subsidiary, BML Group, and its latest acquisition was added for a sum of €3 million.
Premier Casino is a pure-play operator with a reported number of 260,000 registered users. The casino holds a General license from the Spanish authorities for providing online games and sports betting, and the Betsson brand is planning to use the license to expand into the Spanish market. Per the company’s “multi-brand strategy”, Betsson will also be launching other Spanish brands after the acquisition.
Recent Q4 reports from the Spanish General Directorate for the Regulation of Gambling Affairs (GDRGA) show that the local online industry is rapidly growing across all sectors. According to the numbers, online GGR for the fourth quarter of 2016 was up by 23% from the previous period, and over 32% year-on-year. And apart from increases in withdrawals, deposits, and registered users, Q4 numbers also showed that wagering in all game sectors, including casino, poker, and bingo, grew considerably during the period.
The company says that their short-term financials will not be materially impacted by the acquisition, but that the purchase will enable Bettson’s long-term growth in the Spanish online sector. The acquisition is expected to be finalized by the end of this month.
Betsson AB President and CEO, Ulrik Bengtsson, says that Spain is one of the biggest gaming markets in Europe, where the casino sector is growing rapidly. Their previous experience of building strong local brands in Italy and the UK makes him confident that Betsson will be able to build a leading brand in Spain as well, and the acquisition falls in line with the company’s ambition to increase their share of revenue from locally regulated businesses.