Betsson makes play for Netplay TV

Betsson AB has reached agreement with NetPlay TV for the acquisition of all AIM-listed NetPlay shares at a total consideration of GBP 26.4 million.

The acquisition of NetPlay’s three operations Jackpot247, Supercasino and Vernon’s will strengthen Betsson’s position in the UK market, a press statement outlines.

“NetPlay operates three brands, each with strong offerings, and we believe that applying Betsson’s experience of operating successful casino brands will add to NetPlay’s earnings and growth. We have a long-term view on NetPlay and will achieve significant cost synergies and operational improvements over time. Betsson’s acquisition strategy includes adding volume to its scalable Techsson platform and increasing the share of locally regulated revenue,” Ulrik Bengtsson, chief executive officer and president of Betsson AB, said.

The cash offer of GBP 0.09 per share will be implemented through a court approved scheme of arrangement, regulated by the UK Companies Act and the UK Takeover Code.

The offer, subject to the approval of NetPlay shareholders and the High Court of Justice in the UK, is expected to close in April 2017.