Today it was revealed that GVC is purchasing Portuguese betting site Bet.pt, with the goal of expanding operations throughout the country.
The deal will see Bet.pt falling under the umbrella of GVC, who also owns major brands Ladbrokes and Coral. Bet.pt currently stands as one of the major operators in Portugal, and this will see the company getting access to even larger marketing efforts, which in turn will likely help the brand grow further.
Commenting on the deal a GVC spokesperson said, "By leveraging our technology, extensive portfolio of gaming content, marketing and CRM capabilities, as well as growing the sports offering, we see plenty of opportunities to grow its profitability and market position."
GVC CEO Shay Seveg also noted: "This acquisition is consistent with our strategy of expanding into new markets that are either regulated or regulating, in order to support our international growth ambitions."
As of press time we don't have any details on the cash consideration paid for the company, but we will update readers as we learn more.