Betsson Purchases Betsafe for €60 Million
By Scott Carlson, Rakeback.com Poker News Senior Writer
Betsson announced Friday it has purchased the privately held Betsafe for a reported amount of up to €60 million according to EGR Magazine. Betsson, a publicly traded company on the Stockholm Stock Exchange, will initially pay the owners of Betsafe €32.5 million in cash and shares with a conditional €27.5 million based on future developments.
The two Scandinavian based company will still operate separate poker sites, which are both members of the Ongame Network. Players at both Betsson and Betsafe should not see any changes to their game play.
Henrik Persson, Chief Executive of Betsafe, was quoted as saying “Two strong cultures, with common values and goals, now join forces with the aim to further develop the business and eventually become one of the largest and most profitable players in the market.”