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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

Riga to close gaming venues in city and neighborhoods

Niji Narayan

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Riga to close gaming venues in city and neighborhoods
Photo Source: bruxx.be
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The City Council of Riga, Latvia’s capital, is going to close down all gaming venues in the city, including the downtown and neighborhoods.

Riga Mayor, Nils Usakovs has asked the municipality’s Legal Affairs Department and Urban Development Department to prepare a decree that will revoke all gaming venues’ licenses in Riga, except for those given to four- and five-star hotels.

According to the Law on Gambling, if the operation of gambling on the particular premises creates a substantial impairment to the interests of the State and the residents of the respective administrative area, the city or the local government council is entitled to terminate the permit to establish a casino, a gambling hall, a bingo hall, a betting or a wagering shop and to operate the respective type of gambling on the particular premises, by means of a reasoned decision.

“This is one task that we have to accomplish. We made the first step in 2017 when we banned gaming venues in the historical center of the city. At the same time, it is clear that the problem of gambling is the worst in the neighborhoods of Riga. That is why the municipality has to do everything in its power to finally make Riga a city completely free of gambling,” said Usakovs.

To stay up to date with the latest changes in the Baltic region make sure you register here for the second edition of the Mare Balticum Gaming Summit. The conference will take place on the 9th of May at Radisson Blu Royal Astorija Hotel in Vilnius (Lithuania).

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Baltics

SBTech announced as Lanyards Sponsor of MARE BALTICUM Gaming Summit 2

Zoltan Tundik

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SBTech announced as Lanyards Sponsor of MARE BALTICUM Gaming Summit 2 – The Baltic and Scandinavian Gaming Summit & Awards

We are honored to announce that in 2019, we will have the support of leading sports betting software provider, SBTech as the Official Lanyards Sponsor at MARE BALTICUM Gaming Summit.

The Summit is held in on a yearly basis and it is a “must-attend” event in the region, gathering industry stakeholders from the Baltic and Scandinavian region, but also internationally.

MARE BALTICUM Gaming Summit, also known as the Baltic and Scandinavian Gaming Summit & Awards offers the opportunity for both new companies and veterans, to learn about industry insights and compliance update, while also being part of a group that is at the forefront of the gambling industry in the Lithuania, Latvia, Estonia, Sweden, Denmark, and also from the DACH region.

The Summit will approach all regulatory and compliance related aspects of the mentioned markets and will also highlight some trending topics such as the importance of a good Customer Relationship Management, Outsourcing, use of Big Data and AI, Safe Gambling, AML, KYC and will also include a special future gaming industry related panel discussion, and an exclusive IMGL MasterClass about the Nordics.

As mentioned above, SBTech, the award-winning global leader in omni-channel sports betting and gaming technology which powers the world’s largest operators, state lotteries, land-based casinos, and horse racing companies is going to be the Lanyards Sponsor of the conference.

Founded in 2007, and with more than 1,100 employees in nine global offices, SBTech has developed the industry’s most powerful, innovative, data-driven online sports betting and casino platform, serving licensees in more than 20 regulated markets.

The group supplies highly flexible and scalable omni-channel betting and gaming software solutions to clients looking for exceptional configurability, differentiation, and the quickest route to market, complemented by proven business intelligence and reporting capabilities.

Supported by unrivaled expertise in trading and risk management, acquisition and CRM, and the highest standards of regulatory compliance, SBTech’s partners consistently achieve rapid growth, enhanced brand loyalty and record revenues.

For more information, visit: www.sbtech.com

 Make sure you take advantage of this unique opportunity of learning and networking with the gambling industry in the Baltic and Scandinavian region via the MARE BALTICUM Gaming platform which has been launched in 2018 and is committed to bringing together industry shareholders and government officials from the Baltic and Scandinavian region on a yearly base.

Register here!

Browse the official event website here: www.marebalticumgaming.com

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Baltics

Latvian regulator, Mrs. Signe Birne, to join the speaker lineup at MARE BALTICUM Gaming Summit 2019 in Vilnius

Zoltan Tundik

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Reading Time: 2 minutes

 

It has been reported by industry media that Latvia’s parliament has decided to ban gambling halls throughout the country. The representatives of the political parties have stated that amendments are needed and that casinos can only be located in luxury hotels.

The representative of the Ministry of Finance, Yana Salminia, stated that the streamlining of the gambling business is already underway. Politicians and other interested parties can submit their proposals, the draft consideration was already completed.

Meanwhile, the country’s gambling revenue increased by 11.7 per cent compared with 2017 and amounted to 277.701 million euros, according to the Lotteries and Gambling Supervisory Inspection of the Republic of Latvia.

The total turnover of gambling operators in 2018 grew by 10.5 per cent to 293.467 million euros and the total estimated profit of these active 16 companies, amounts to 80.998 million euros in 2018, which is 18.5 per cent more than in 2017.

During the second edition of MARE BALTICUM Gaming Summit – The Baltic and Scandinavian Gaming Summit and Awards, which will take place in Vilnius on the 9th of May, Mrs. Signe Birne, Director of Lotteries and Gambling Supervisory Inspection of the Republic of Latvia, will join the “Focus on the Latvian and Estonian gambling industry” compliance panel discussion.

You can find more details about the Agenda here or you can register here!

About Signe Birne

Since 1993, Mrs.Birne has worked as Director of Securities department and Financial Market Policy department of the Ministry of Finance of the Republic of Latvia.

With the establishing of Lotteries and Gambling Supervisory Inspection in 1998, Mrs.Birne starts her career as Director of Inspection.

Mrs.Birne has been graduated from the University of Latvia, Finance and trade faculty – Master’s Degree in Economics and in 2001 she earned the Master’s degree in Social science.

Signe Birne has an in-depth understanding of organizational practice and theory as well as experience within the regulation of the Latvian gaming market – land-based and online, illegal online gambling and payment blocking.

Signe Birne is very active with her country point of view on developments of gaming business all around Europe since 2001 till 2009 she held a position as a member of the Executive Board of GREF, Gaming Regulators European Forum, and 2009 – 2012 she was a Chairman of the Executive Board of GREF.

Since 2012 Mrs.Birne participated as the Latvian representative in the European Commission’s Expert Group on Gambling Services, which provides the Commission with advice and expertise in relation to the preparation of policy initiatives and facilitates the exchange of regulatory experience and good practices between EU and the EEA Member States.

Make sure you take advantage of this unique opportunity of learning and networking with the gambling industry in the Baltic and Scandinavian region via the MARE BALTICUM Gaming platform which has been launched in 2018 and is committed to bringing together industry shareholders and government officials from the Baltic and Scandinavian region on a yearly base.

Register here!

Browse the official event website here: www.marebalticumgaming.com

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