On Thursday, Betsson announced that it had acquired Lošimų strateginė grupė UAB, which operates under the TonyBet brand. Betsson has agreed to pay an initial €4m with a further €2m payable in 2017 if the site meets certain performance benchmarks. The deal is expected to officially close within one month.
While TonyBet holds online gambling licenses in Lithuania, Latvia, Estonia, Denmark and the UK, the Betsson acquisition is limited to TonyBet’s Lithuanian operations. TonyBet also operates 20 retail betting shops in Lithuania. TonyBet was founded by Antanas Guoga aka Tony G, a well-known poker player and a Lithuanian-elected member of the European Parliament. Betsson said TonyBet’s Lithuanian business generated revenue of €3m and adjusted earnings of €550k in the first half of 2016.
Betsson already operates in Baltic markets via its Triobet brand and CEO Ulrik Bengtsson called the TonyBet deal “a good strategic fit” for his company, in keeping with its ambition to “increase revenue from locally regulated markets.”
In other Betsson news, the company has struck an online games content deal with Realistic Games. The deal will see popular Realistic slots and casino table games appear on Betsson’s Malta-licensed brands, including Betsafe, CasinoEuro and NordicBet.
Speaking of Betsafe, the site just launched a new marketing campaign in the UK following advertising deals with Sky Sports, ITV and BT Sport. The campaign will feature a new spot produced by Crispin Porter + Bogusky, in keeping with the company’s previous efforts, which involved the company offering punters an “honest” appraisal of their chances of beating the bookies at their own game.