Betsson to Purchase TonyBet

This story was published more than 7 years ago.

Internet gaming firm Betsson has announced that they have signed an agreement to purchase Lithuanian gambling group TonyBet for €4 million.

The deal will see Betsson paying €4 million for the group in cash when the deal is approved by both boards. TonyBet is established in Lithuania, operating an online betting site alongside more than 20 retail shops as well. Betsson is a Swedish gaming giant, who has become known for their wide array of gaming services throughout Europe.

Commenting on the deal Betsson CEO Ulrik Bengtsson said, "We see strong synergies in this acquisition, through migration of the operator to Betsson's technical platform, and development of the casino offering."

"This acquisition is a good strategic fit for Betsson Group as Betsson's ambition is to increase revenue from locally regulated markets. We have now consolidated our presence in the Baltic region by ensuring local licenses in all three markets, and continue to pursue growth across Europe, organically and through acquisition."

Casino Listings will update this story as we learn more about the merger.

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About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
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bgsharpe
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26 September 2016 - 8:49pm
#1

Sounds like a wise investment for Betsson, don't know what's the capacity of TonyBet but 4 mill don't seems to be a lot of money these days, especially when it's about business.

lvblck
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27 September 2016 - 9:00am
#2

This actually surprises me as I didn't know that Tonybet was from Lithuania. Other than that, good luck to them.