Glitnor Group to buy OneCasino to expand igaming presence in Europe

The online gambling operator has a presence in several regulated gambling markets.

Malta.- The Glitnor Group has announced that it has reached an agreement to buy the online gambling operator OneCasino in a deal that’s expected to close in the first quarter of 2025. Glitnor said the acquisition will provide commercial, operational and technological synergies and accelerate growth and profitability for both businesses.

OneCasino, which is also based in Malta, has a presence in several regulated igaming markets in Europe. As well as its MGA licence, it has licences in Denmark, the Netherlands and Spain. It hopes to gain a licence in Germany.

The deal includes OneCasino’s game studio, which creates localised and bespoke games. Glitnor said this would complement its own studio. It said combined revenue for the companies in 2024 would be more than €150m on a proforma basis.

Glitnor did not disclose the financials of the deal, which remains subject to the necessary approvals from regulatory authorities.

Glitnor Group CEO Richard Brown said: “The transaction accelerates our long-term vision to become a leader across high value, regulated markets in the igaming industry. The hugely complementary geographical profile and high-quality product OneCasino have rapidly expands both companies’ short- and long-term addressable market.

“The team at OneCasino have built a fantastic company over the last years, creating a great product and working in a range of competitive regulated markets and have a proven track record of success. We are very excited to combine the two companies’ offerings and accelerate our growth potential.”

OneCasino CEO Mark Schram said: “We’re incredibly proud of what the OneCasino team has accomplished over the years. Joining forces with the Glitnor Group marks an exciting new chapter for us as we continue to grow and expand into new markets.

“The shared vision and synergies between both companies make this merger a perfect fit. It allows us to further enhance our proprietary technology and product offerings while continuing to focus on providing exceptional gaming experiences to our customers.”

The Maltese Financial Intelligence Analysis Unit (FIAU) issued a €236,789 fine against Glitnor Group last year for breaches of anti-money laundering (AML) regulations. The sanction related to a compliance review carried out in 2019. The FIAU identified failings in areas involving customer and business risk assessments, policies and procedures and customer identification and verification.