Expands in Danish market
Online casino operator Mr Green has acquired all of the shares in online gaming company Dansk Underholdning, an established online casino operator in the Danish market, for a cash consideration of around Euro 9 million.
The acquisition is cash financed with an initial purchase consideration of approximately Euro 9 million in March/April 2017 and an additional purchase consideration of a maximum Euro 650,000 which may trigger in April 2018 if certain conditions have been met.
In light of the acquisition, Mr Green's Board of Directors will propose no dividend payment for the 2016 financial year at its AGM.
On completion of the acquisition, the company intends launching Mr Green in Denmark alongside Dansk Underholdning's well-established brands Bingosjov, Bingoslottet and Balletbingo.
"Since we are focusing on expanding to locally regulated markets, an acquisition in Denmark has been high on our list," Per Norman, chief executive officer of Mr Green & Co, said. "Dansk Underholdning is a successful company that we warmly welcome into the Mr Green family".
"We are excited to become part of Mr Green, which, in my opinion is one of the most skilled operators in the industry," added Peter Eugen Clausen, chief executive officer and co-founder of Dansk Underholdning, who will remain in his executive position on completion of the deal.
"The deal is a perfect match as it combines Mr Greens competences and economies of scale with the Danish presence and local knowledge of Dansk Underholdning."
Online Casino News Courtesy of Infopowa