PRESS RELEASE – BETIT GROUP 2014-04-14

PRESS RELEASE – BETIT
GROUP
2014-04-14
Record growth and record valuation for Betit Group.
Today it was made public that the stock listed UK iGaming giant
GVC Holdings has made a strategic investment of 3.5 million EUR
for 15 % of the shares in the Malta based company Betit Holding
Ltd, the parent company of iGaming company Betit Group Ltd.
Betit has thus reached a valuation of just over 23 million EUR
within five months from launching their first site Thrills.com. Further
more, the parties have agreed that GVC will have the option to
acquire the remaining 85% of the shares in Betit Holding Ltd.
during 2017, based on a predetermined EBITDA multiple, but at a
minimum price of 70 million EUR.
”Our focus has from the very start been to deliver an attractive,
user friendly and exciting gaming experience. We believe there’s a
void in the industry within these areas and we believe we have the
staff and the expertise to deliver something extraordinary to the
market. That an established operator like GVC has noticed us and
is now making a strategic investment into our company is nothing
other than a token that we’re on the right path and we believe we
have a very interesting future a head of us”, says Joakim
Stockman, CEO of Betit Group.
”Further growth at the same record pace.”
”That GVC joins, not only our owner circle, but also our board, is
great strategic upside for us which will only fuel further growth,
hopefully at the same record pace that we’ve seen so far. We are
already the fastest growing start up that this industry has seen in
many years and with GVC on board our outlook has never been
brighter”, continues Joakim who was previously managing
Betsafe.com and prior to that heading up Marketing
Communications at Nordic Gaming Group.
”Deeply impressed of what Betit produced so far.”
”We are deeply impressed by their view on the game experience,
the users and of course the results they’ve produced so far. We
see Betit Group as one of the most interesting companies on the
Scandinavian market and believe there’s great potential in their
brands and their business” says Kenneth Alexander, CEO at GVC
Holdings.
GVC Holdings is a multi national iGaming company with brands such as Sportingbet,
Casino Club and betboo. The company has offices in seven countries and over 600
employees. GVC Holdings is listed on the London AIM stock exchange since 2004
and had a turnover of 1 billion EUR in 2013.
Betit Group was founded in 2013 and have close to 50 employees. Betit Group
launched Thrills.com in the end of 2013 and SuperLenny.com in early 2014. The
founders of Betit Group, Henrik Persson, Andre Lavold and Mikael Harstad, have
previously been behind successful iGaming companies such NordicGaming Group
(NordicBet), BestGames Holdings and most recently Betsafe.
For further information:
Betit Group Ltd.
Joakim Stockman
Chief Executive Officer
GSM: +34 68 101 70 95

Download Report