iGaming grows in Sweden

Swedish iGaming company Net Gaming has expanded its operations by acquiring a range of affiliate assets.

Sweden.- The online gaming industry is growing throughout European legislated markets as companies are able to expand their businesses on different platforms. The Swedish iGaming company Net Gaming has announced it will include platforms for German, Austrian and Swiss players under current laws.

Net Gaming has acquired a range of affiliate assets, as revealed yesterday by the company. The latest move gave the company the opportunity to expand its operations throughout Europe after obtaining the permission of local licensed markets. Net Gaming has signed a letter of intent to acquire the assets. However, the transaction has not been completed yet.

According to the official statement, the transaction was set at €2.29 million using existing cash resources. The acquisition also includes an earn-out of up to €1.25 million, based on the acquired assets’ EBTIDA in the 12 months following completion.

“I am very pleased that we have the opportunity to strengthen our position in the DACH region. This is an exciting market which we consider to have good growth opportunities ahead,” Net Gaming Chief Executive Marcus Teilman said. “In addition, completion of this transaction will give us further opportunities to grow our existing operations in the region and expand these assets to other markets.”