At the beginning of the month, Abbantina Malta Limited, the owner of NextPoker.com filed a lawsuit in the Stockholm District Court in Sweden against Redbet. The suit charges Redbet to fully settle a debt of €747,991 plus interest awarded to Abbantina on October 25 by the Arbitration Institute of the Stockholm Chamber of Commerce.

Abbatina Malta Limited claims that Redbet did not fulfill its contractual obligations or as described in a statement from the company ‘did not constitute an independent business as all relevant functions were integrated with Redbet Holding’.

In another statement from Abbantina, “Since Redbet Limited in addition has proven unwilling and unable to settle its debt, Abbantina has filed this lawsuit with the Stockholm District Court.”

The dispute arises from a 2007 so-called white label agreement which was cancelled by Abbantina in 2008.

Legal News

Recently the Swedish online gaming operator Redbet Holding AB has been making some big acquisitions. Redbet Gaming Ltd through an asset deal, recently acquired i4poker, a gaming site focused on Eastern European markets. Now Redbet has made another acquisition this month, this time signing a deal to acquire DoubleCardrooms, a gaming site powered by Entraction aimed at the Scandinavian market.

In a statement made in the release, Redbet Holding’s CEO Jorgen Andersson said “The acquisition of DoubleCardrooms is the second acquisition in a short time…Our expansion efforts consist of both organic growth and acquisitions. We are actively seeking acquisition opportunities opened up by the consolidation of the gaming market, both in new and existing markets.”

The company was founded in 2002 but did not go online until 2004. Since going online the company has worked to define it’s identity and presence in the online space. The company gained notoriety for making an amazingly fast payout, but as of late Redbet has been executing its business strategy of expanding into the Scandinavian markets with these two new acquisitions.

Business News