Glitnor Group Continues Its Expansion: Acquisition of OneCasino Announced
In a significant move for the iGaming sector, Glitnor Group has confirmed today that it has signed a share purchase agreement (SPA) to acquire OneCasino, a prominent player in the online gaming industry. This strategic acquisition marks a pivotal step for Glitnor as it seeks to bolster its presence in key regulated markets.
OneCasino’s Market Presence
OneCasino has established a formidable reputation across several regulated jurisdictions including the Netherlands, Spain, and Denmark. With ambitions to enter the German market, pending the final approval of its gaming license, OneCasino is positioned to strengthen its foothold in Europe’s lucrative iGaming landscape. This venture is poised to enhance Glitnor’s reach, expanding operations across more than eight regulated markets and significantly improving the group’s operational scale.
Financial Synergies and Growth Prospects
The acquisition is anticipated to yield attractive commercial, operational, and technological synergies that will facilitate accelerated growth and profitability for both entities. According to pro forma estimates, the combined revenue of these companies is projected to exceed €150 million in 2024. This financial boost signifies a robust trajectory for Glitnor Group, which is committed to capitalizing on the burgeoning iGaming market.
Technological Integration and Enhanced Offerings
OneCasino is renowned for its innovative proprietary technology stack and a product offering that emphasizes player engagement. Its in-house game studio, integrated within its proprietary iGaming platform, allows for the creation of localized, bespoke content, presenting additional growth opportunities. This will complement Glitnor’s existing games studio, enhancing its own product offerings while providing a seamless integration of advanced platforms. The merger not only opens doors for deeper market penetration but also sets the stage for an enriched gaming experience for users.
Future Outlook: Regulatory Approvals
The closing of the deal is expected in the first half of 2025 and hinges on obtaining the necessary approvals from relevant gaming and regulatory authorities. This due diligence process is crucial in ensuring that the merger aligns with regulatory standards and best practices in the gaming industry, further solidifying the integrity of both companies.
Executive Perspectives on the Merger
Richard Brown, CEO of Glitnor, expressed his enthusiasm regarding the acquisition, stating, “We are tremendously excited to welcome OneCasino and its team into the Glitnor Group. The transaction accelerates our long-term vision to become a leader in high-value, regulated markets in the iGaming industry.” His acknowledgment of OneCasino’s strong market position and successful track record underscores the strategic fit of this acquisition.
Conversely, Mark Schram, the CEO of OneCasino, articulated pride in his company’s achievements and excitement about the new chapter ahead. He remarked, “Joining forces with the Glitnor Group marks an exciting new chapter for us as we continue to grow and expand into new markets.” Schram’s focus on player safety and responsibility indicates that the newly formed entity will prioritize user experience and ethical gaming practices.
Conclusion: The Future of iGaming
The merger between Glitnor Group and OneCasino is not merely a business transaction; it signifies a transformational moment in the iGaming landscape. By combining their strengths, both companies are set to become a formidable force in regulated markets, providing innovative and enjoyable gaming experiences. With upcoming regulatory assessments and the promise of enhanced offerings, the industry will be watching closely as this merger unfolds, heralding a new era in the competitive world of online gaming.
