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BETSAFE SOLD TO BETSSON

Date May 2011
Price €60,000,000
Asset Betsafe
Buyer
Status Business as usual
Software No
Success

Betsafe was sold to Betsson in May 2011 for total of €60 million. Betsafe was a Norwegian sports exchange, online casino and poker room.

Betsson a Malta-based Swedish online gambling and poker operator became with the acquisition of Betsafe the single largest operator in Malta.

In the years leading up to the purchase agreement Betsafe had increased its revenue by 119% over the course of 2010 and had more than 84,000 real money players in 2011 on its Ongame poker room with 148 employees in Malta.

The company was privately owned by a group of Norwegians and it was sold for a total amount of €60,000,000 with €32,500,000 being paid upfront in cash and Betsson shares.

In the time after Betsafe was acquired it was believed that Betsson would move its players to the Betsson platform but till this day (July 2012) Betsafe is still operating as before. We do believe some internal changes have taken place but from a player perspective Betsafe remains the same.

With Betsafe & Betsson being on the same network the two poker rooms have boosted the value of their promotions. Betsafe and Betsson have since the purchase been running with shared races and promotions which ensures the two poker rooms owned by Betsson offer the best promotions on Ongame.

Overall we consider this purchase as a success since Betsson removed one of its biggest competitors and increased its market share in especially Norway & Denmark.