Danish gambling firm Danske Spil announced today that they've entered into an agreement that will see it taking over the online assets of Tivoli A/S.
Under the terms of the agreement, the state-run betting firm taking over the assets for the TivoliCasino.dk domain by paying a flat fee. In addition to the fee, Tivoli will earn royalties for the next ten years, which can be extended moving forward. Tivoli is a legendary betting company in Denmark, having been formed in 1843 and operating land and online books.
Commenting on the agreement Tivoli A/S CEO Lars Liebst said, "In 2012 Tivoli established the online casino site TivoliCasino.dk, which quickly gained market share in a growing online casino market. It was a natural step for Tivoli to enter into this industry, as the Tivoli Gardens have offered games within its physical settings for more than 100 years. With Danske Spil, Tivoli has found a strong partner which shares our values, and possesses the qualifications needed to grow the brand further in a highly competitive market. We are convinced that the combination of Tivoli's brand and Danske Spil's commercial skills, will secure the continued growth of TivoliCasino.dk"
No details on the exact fee paid was available as of press time.