Mr Green has announced a €7 million deal to acquire Evoke Gaming, which includes brands Vinnarum casino, Bertolt, MamaMia and Redbet.
Evoke Gaming produced €15.5 million in 2016 and also includes a sportsbook plus a casino and poker provider. Mr Green said in its announcement that it intends to expand the brands into both its existing markets as well as new markets.
Redbet and Vinnarum casino are strong players in the Nordic region while, Bertil and MamaMia are bingo sites focused on the Swedish market.
Mr Green is acquiring all shares in Evoke Gaming from Bonnier Growth Media for €7 million, to be paid in cash. An additional €1.5 million may be payable if certain conditions are met, according to SBC News.
The company said the acquisition will not impact Mr Green’s EBITDA for 2018, but could have a marginally negative impact on cash flow for next year. The deal, however, should contribute positively to EBIDTA and cash flow as of 2019, when Mr Green expects to start achieving annual synergies of €2.5 to €3.5 million, the SBC report said.
“Evoke Gaming is an ideal fit for our business plan and strategy,” said Per Norman, CEO of Mr Green & Co. in a press release. “We are pursuing our strategy of nurturing a small number of strong brands that can work globally. With Redbet and Mr Green, we have two immensely strong brands addressing different segments and we see major potential to expand Redbet into our existing markets.”
Fredrik Staël von Holstein will remain as CEO of Evoke Gaming and become a member of Mr Green Ltd’s management team in Malta, SBC reported.
