MRG completes the acquisition of 11.lv and expands to the Baltics
MRG has today completed the acquisition of the majority of the Latvian iGaming operator 11.lv and intends to launch the Mr Green and Redbet brands in the Baltics.
On 23 May 2018 MRG announced the acquisition of 11.lv which is a well-known Latvian iGaming brand with a focus on Sportsbook and the third largest iGaming operator in Latvia. The company has a gaming license in Latvia and offers betting, casino and live casino.
”Now we expand into the Baltics and foresee promising growth opportunities for Mr Green and Redbet in the region”, says Per Norman, CEO of MRG.
MRG has acquired 75 per cent of the shares. The purchase price amounted to EUR 2.8 million based on an enterprise value (debt free basis) of EUR 3.7 million. The purchase price was paid in cash. The acquisition will have a positive effect on MRG’s revenue, profit and cash flow in 2018.
For further information, please contact:
Per Norman, CEO MRG, tel. +46 72 230 91 91, per.norman@mrggroup.com
Åse Lindskog, Director Communications and IR, tel. +46 730 24 48 72,
MRG is a fast-growing, innovative iGaming Group with operations in 13 markets. MRG offers a superior experience in a Green Gaming environment. MRG was founded in 2007 and operates the iGaming sites Mr Green, Redbet, Winning Room, Bertil, MamaMiaBingo, BingoSjov, BingoSlottet and 11.lv. The Group had a turnover of SEK 1,192.0 million in 2017 and has over 300 employees. MRG has gaming licenses in Italy, Latvia, Malta, the UK, casino license in Denmark and Sportsbook license in Ireland. MRG is listed on Nasdaq Stockholm in the Mid Cap segment under the name Mr Green & Co AB (ticker MRG). Read more at www.mrggroup.com.
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