Record growth and record valuation for Betit Group.
Today it was made public that the stock listed UK iGaming giant GVC Holdings has made a strategic investment of 3.5 million EUR for 15 % of the shares in the Malta based company Betit Holding Ltd, the parent company of iGaming company Betit Group Ltd. Betit has thus reached a valuation of just over 23 million EUR within five months from launching their first site Thrills.com. Further more, the parties have agreed that GVC will have the option to acquire the remaining 85% of the shares in Betit Holding Ltd. during 2017, based on a predetermined EBITDA multiple, but at a minimum price of 70 million EUR.
”Our focus has from the very start been to deliver an attractive, user friendly and exciting gaming experience. We believe there’s a void in the industry within these areas and we believe we have the staff and the expertise to deliver something extraordinary to the market. That an established operator like GVC has noticed us and is now making a strategic investment into our company is nothing other than a token that we’re on the right path and we believe we have a very interesting future a head of us”, says Joakim Stockman, CEO of Betit Group.
”Further growth at the same record pace.”
”That GVC joins, not only our owner circle, but also our board, is great strategic upside for us which will only fuel further growth, hopefully at the same record pace that we’ve seen so far. We are already the fastest growing start up that this industry has seen in many years and with GVC on board our outlook has never been brighter”, continues Joakim who was previously managing Betsafe.com and prior to that heading up Marketing Communications at Nordic Gaming Group.
”Deeply impressed of what Betit produced so far.”
”We are deeply impressed by their view on the game experience, the users and of course the results they’ve produced so far. We see Betit Group as one of the most interesting companies on the Scandinavian market and believe there’s great potential in their brands and their business” says Kenneth Alexander, CEO at GVC Holdings.
GVC Holdings is a multi national iGaming company with brands such as Sportingbet, Casino Club and betboo. The company has offices in seven countries and over 600 employees. GVC Holdings is listed on the London AIM stock exchange since 2004 and had a turnover of 1 billion EUR in 2013.
Betit Group was founded in 2013 and have close to 50 employees. Betit Group launched Thrills.com in the end of 2013 and SuperLenny.com in early 2014. The founders of Betit Group, Henrik Persson, Andre Lavold and Mikael Harstad, have previously been behind successful iGaming companies such NordicGaming Group (NordicBet), BestGames Holdings and most recently Betsafe.
For further information:
Betit Group Ltd.
Joakim Stockman
Chief Executive Officer
GSM: +34 68 101 70 95
Tags: