Swedish online betting giant Betsson has announced that it has acquired Class One Holding Ltd, a Dutch firm that owns popular online betting spots Oranje Casino and Kroon Casino.
The move allows Betsson to gain a strong foothold in the Dutch gaming market, and will include more than 300 domains and the Class One's Belgian gaming license. As part of the deal, the three founders of Oranje and Kroon Casinos will be able to serve as advisors to Betsson.
The deal reportedly cost Betsson €100 million, with €40 million of that in cash and €60 million in Betsson stock shares.
Commenting on the deal Betsson CEO Magnus Silfverberg said, "With this acquisition, Betsson gains a strategic position in the Netherlands and becomes one of the biggest players on the Dutch market which is expected to be re-regulated during 2015. This would give Betsson's profits from locally-regulated markets exceeding 25% of the group's total profit. The deal also gives Betsson a larger and more significant presence in continental Europe."