Mr Green to Italy – acquires Mybet Italia srl – Establishment in the second-largest gaming market in Europe
Through its subsidiary the online casino Mr Green Ltd, the AktieTorget-listed Mr Green & Co has entered an agreement with the owner of Mybet Italia srl under which the Mr Green online casino will acquire the operations of Mybet Italia srl. The purpose of the move is to support Mr Green in the launch of its services and brand in the regulated Italian market. The launch is subject to the Italian gaming regulator, AAMS, approving the Mr Green online casino as the new licensee.
“The acquisition presents an exciting opportunity to enter the Italian market,” says Mikael Pawlo, CEO of Mr Green & Co.
Mr Green will acquire the operations of Mybet Italia srl. The purchase consideration will not appreciably impact liquidity and the acquisition will be financed using existing cash assets. The CEO of Mybet Italia srl will focus on the launch of Mr Green in Italy, contributing local knowledge and assisting Mr Green in Malta.
“It is the Group’s strategy to conduct operations in several regulated markets and to strive to increase the portfolio’s share of revenue from regulated markets to significant levels over the next few years. While this will entail lower risk and greater marketing opportunities, it will also mean that license costs will vary according to the market,” says Mikael Pawlo, CEO of Mr Green & Co.
Mr Green expects to launch its online casino in Italy in the second quarter of 2015, which presupposes the approval of the Italian gaming regulator AAMS. The venture is not expected to make a positive contribution to earnings in 2015.
For further information, please contact:
Mikael Pawlo, CEO of Mr Green & Co AB (publ), Tel: +46 70 418 65 02.