Betsson enters Italy through Joint Venture
Betsson has signed an agreement aimed at entering into a Joint Venture together with G.Matica Srl in Italy. G.Matica is the gaming division of Alma Viva, one of the largest IT companies in Italy, with over 20 000 employees. G.Matica holds an online gaming license on the Italian market and operates online today through its site Gbet.it. The Joint Venture shall further develop the online business within the Italian market.
Italy is the largest online gaming market in Europe, with an estimated turnover of Euro 4.8bn last year and a growth rate of 28%. The gaming authority, AAMS, published a new decree last Thursday, which allows existing licensees to offer Casino and Cash Poker Games, making the market even more attractive.
“With this Italian B2B-deal, Betsson is taking an important step in the new regulated European environment” says Pontus Lindwall, CEO of Betsson AB. “Betsson views the Italian market as a good jurisdiction to operate within from a local licensing perspective. Our partner has a solid background in IT and gaming, as well as local knowledge of the Italian market, and Betsson contributes with valuable gaming know how and operations, which together will be a great foundation for success on the market”.
Betsson estimates that the Joint Venture will start generating revenues for Betsson in the second quarter of 2011.
For further information, contact:
Pontus Lindwall, CEO and President, telephone +46 (0)8 506 403 10 or +46 (0)708 27 51 55, pontus@betsson.com
BETSSON AB’S CORE BUSINESS CONSISTS OF INVESTING IN AND ADMINISTER COMPANIES WHICH OFFERS GAMING ON INTERNET BY THEMSELVES OR THRU PARTNERSHIPS. BETSSON AB OWNS BETSSON MALTA WHICH OPERATES GAMES THROUGH PARTNERSHIPS AND TOWARDS END CUSTOMERS VIA WWW.BETSSON.COM, WWW.CASINOEURO.COM AND WWW.CHERRYCASINO.COM. BETSSON MALTA OFFERS POKER, CASINO, CARD GAMES, LOTTERY, BINGO AND GAMES. CUSTOMERS ARE PRIMARILY FROM THE NORDIC REGION AND THE REST OF EUROPE. BETSSON AB IS LISTED ON OMX NASDAQ NORDIC MID CAP LIST, (BETS).
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