The online gambling company Mr Green revealed it has acquired all shares of the online gaming company Danks Underholdning, which would provide it with the opportunity to expand its reach on the territory of Denmark. If everything goes by plan, Mr Green is to be launched in Denmark by the end of 2017 alongside the already existing brands of Dansk Underholdning.
Currently, Dansk Underholdning has a very good presence on the Danish gaming market, especially when it comes to offering casino games. The company has been issued a casino gaming licence in the country.
The Chief Executive Officer of Mr Green Per Norman commented on the acquisition agreement, explaining that the company had been aimed at making expansion in some local regulated markets. That was exactly the reason why a takeover of a local operator was on top of the list with the company’s goals for the year.
The price of the take-over will be paid in cash, as announced by Mr Green itself. The online gambling operator also revealed its Board of Directors’ intentions to propose to the Annual General Meeting that no dividend would be paid for the 2016 fiscal year.
The takeover deal came as a logical step for Mr Green, which has been recently focused on expanding its presence on new geographic markets. The online gaming company’s earnings are expected to be positively influenced after the completion of the acquisition, especially in terms of earnings per share and operating cash flow in the current financial year.
The generated revenue of Dansk Underholdning for the year 2016 amounted to nearly €3.9 million, after a reported year-on-year growth estimated to 27%. Dansk Underholdning, which holds an operating casino licence, runs a number of brands, which will flow in Mr Green’s offering. The current Chief Executive Officer of the company Peter Eugen Clausen will remain at the same position after the completion of the acquisition.
The Chief Executive Officer of Dansk Underholdning, Peter Eugen Clausen, who is also a co-founder of the company, said that the company’s team has been excited to become part of Mr Green, describing the latter as one of the most experienced operators in the contemporary gambling industry. In addition, he said that the deal perfectly matched the vision of Dansk Underholdning for the future, as it was a perfect combination between the latter’s knowledge of the local market and the broad experience of Mr Green.
- Author
Olivia Cole
