In addition to the online business, the company also operates across approximately 450 points of sale in Belgium and also owns a gaming arcade. The brand holds a license for online sports betting and a license for online dice games in Belgium. The closing of the acquisition is not conditional on regulatory approvals and is expected to occur on or around July 5, 2023.Įstablished in 2011, betFIRST is a B2C operator in the locally regulated online gaming market in Belgium, offering sports betting and dice games. Betsson is able to finance the purchase with existing cash from its balance sheet and within existing credit facilities. The initial consideration is equivalent to a multiple of 10.0x betFIRST’s estimated EBITDA for the financial year 2023.
The total value of the acquisition of betFirst was EUR 120 million, of which up to EUR 3 million was an earnout payment subject to certain conditions being met, all payable in cash. Betsson AB acquired Belgian sports betting and gaming operator betFIRST and announced a new strategic partnership with Groupe Partouche.
