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Mr Green publ : MRG establishes operations in the Baltics by the acquisition of the iGaming operator 11.lv

George Miller

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MRG establishes operations in the Baltics by the acquisition of the iGaming operator 11.lv
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05/23/2018 – As part of its strategy to establish operations in the Baltics, MRG has signed an agreement to acquire a majority of the Latvian gaming operator 11.lv.

The Baltics – Estonia, Latvia and Lithuania – is regulated across all countries with national regulations and licensing systems. The region is characterized by robust growth for iGaming. The Baltic market for iGaming grew by 45 per cent in 2017.

This is a major step in our strategy to expand into locally regulated markets“, says Per Norman, CEO of MRG. “We foresee excellent growth opportunities for our strong Mr Green and Redbet brands also in the Baltics.

11.lv is a well-known Latvian iGaming brand with a focus on Sportsbook and the third largest iGaming operator in Latvia. The company has a gaming license in Latvia and offers betting, casino and live casino. Revenues amounted to EUR 944 k in Q118 and EBITDA was EUR 162 k. The revenue growth was 44 per cent from Q117.

MRG acquires 75 per cent of the shares. Two of the founders, who stay in the company, keep 25 per cent of the shares. The purchase price amounts to EUR 2.8 million based on an enterprise value of EUR 3.7 million. The purchase price is paid in cash. The price is calculated on enterprise value (debt free basis). 11.lv has 15 employees, all based in Riga, Latvia.

“11.lv has a strong brand recognition in Latvia and will be the base for our expansion in the Baltics“, continues Per Norman. “Our first step is to launch Mr Green in Latvia which, together with 11.lv, give us a broad, attractive offering for the Baltic market.

 

 

MRG is a fast-growing, innovative iGaming Group with operations in twelve markets. MRG offers a superior experience in a Green Gaming environment. MRG was founded in 2007 and operates the iGaming sites Mr Green, Redbet, Vinnarum Casino, Bertil, MamaMia Casino, BingoSjov and BingoSlottet. The Group had a turnover of SEK 1,192.0 million in 2017 and has over 300 employees. MRG has gaming licenses in Malta, UK, Italy, casino license in Denmark and Sportsbook license in Ireland. MRG is, through its parent company Mr Green & Co, listed on Nasdaq Stockholm in the Mid Cap segment. Read more at www.mrggroup.com.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Baltics

EGT Interactive inks agreement with Betsson Group

Niji Ng

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EGT Interactive inks agreement with Betsson Group
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EGT Interactive has joined hands with Betsson group to supply its complete portfolio of premium video slots in the Baltics.

The new partnership will be a boost for EGT Interactive, especially for its operations in the Baltic markets of Lithuania, Latvia and Estonia. EGT Interactive CEO Todor Zahariev, said: “We are extremely proud to be signing partnership with one of the key players in the iGaming industry! We are looking forward to providing a great casino content and real casino experience to their vast net of players. The Baltics have always been a great market for EGT Interactive’s casino content and we believe that together we will have the chance to reach out to a greater group of players, interested in the traditional high quality casino slots.”

Official Statement from Betsson group:

“We’re extremely happy to be able to start providing our customers in The Baltics a new portfolio of games by EGT Interactive jam packed with industry leading features. Besides they playfulness of their games EGT Interactive also offers a powerful and robust back office – and this is very important for us at Betsson Group as we strive to offer our customer a playful, yet fully secure platform.”

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Baltics

Latvian initiative roots for a ban on gambling halls

Niji Ng

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Latvian initiative roots for a ban on gambling halls
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A new initiative of New Conservative Party’s (JKP) that advocates a ban on gambling halls in Latvia is gaining initiatives.

The initiative specifically demands ban on gambling halls in the whole territory, except for luxury-class hotels. It calls for amendments to the Gambling Law.

The plan published by the new initiative terms the gambling situation in Latvia is critical and amendments should be adopted immediately. However, the plan offers for a five-year transition period.

The initiative provides clear-cut stats: € 99 million were lost by gamblers in the gambling halls, € 7 million in land-based casinos at gaming tables, € 18 million in online casinos.

However, some quarters also warn of the consequences of closing down gambling halls: the ban of land-based gambling could lead to mushrooming online gambling websites, which poses a different set of problems.

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Baltics

Latvia bans illegal gambling domains

Niji Ng

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Latvia bans illegal gambling domains
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Lotteries and Gambling Supervisory Inspection of the Republic of Latvia (IAUI), the gambling regulator in the country, has blocked 20 illegal gambling websites in the country. IAUI has published the list of banned websites as well.

The following websites are also included on the banned list in Latvia: grandfortunecasino.com, vippowerlounge.com, powerjackpot.com, powerjackpotcasino.com, classicjackpot.com, fruits4real.com, casinotriomphe.com, 365sport365.com, vegaspalmscasino.com, royalvegascasino.com, piggspeak.com, pokerstars.net, fulltiltpoker.net, 1bet.com, pantaloo.com, cristalpoker2.com, tonybet.com, bitstarz.com, slotsmillion.com, gunsbet.com.

With the new additions, the black list of gambling websites without a Latvian license now contains 1507 domains.

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