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Net Gaming Acquires UK Betting Site
Thursday 11 July 2019

11 July 2019 - Sweden-based comparison and news site operator Net Gaming has acquired maxfreebets.co.uk, the company said.
Net Gaming said that maxfreebets.co.uk, together with bettingonline.co.uk will become the group's betting flagship in the regulated UK betting market.
Net Gaming is paying an initial purchase consideration of EUR 1.6m (USD 1.8m), with a maximum additional consideration of EUR 0.6m based on performance over the next 12 months.
With the full additional consideration, this corresponds to an EBITDA multiple of about 3.4.
The acquisition closed on 1 July 2019.
Net Gaming Europe AB, through its subsidiaries, owns, develops, and operates comparison and news sites in Sweden. It operates comparison and news sites under various digital brands, such as casinoloco.com and pokerloco.com.
The company offers gaming guides, rules, and playing tips to find the right casino or poker room, or to find odds within a specific sport for iGaming's end consumers through its comparison and news sites.
Net Gaming Europe was founded in 2003 and is based in Stockholm, Sweden.
Max Free Bets provides a source for consumers to find betting offers and free bets from UK betting sites, online bookmakers and betting apps.
Details
Date Published: 11/07/2019
Target: maxfreebets.co.uk
Country: UK
Deal Size: 1.8m (USD)
Sector: IT/Online Services
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor:
Buyer: Net Gaming
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