Online betting group GVC Holdings is buying Crystalbet, a “leading” online gaming operators in the Republic of Georgia, as part of shift in strategy towards regulated gambling markets. GVC, which... Andrew Martens 08.06.2018 Business News, News Leave a comment 398 Views GVC Holdings announced the launch of its portfolio for the Georgian sports betting and gaming brand’s customers. The integration means GVC’s portfolio of gaming and casino content is now live on Crystalbet following the acquisition of 51% of the Georgian firm in April. As part of its shift towards regulated markets, online betting operator GVC Holdings has agreed to buy 51 percent of Georgian gambling group Crystalbet for €41 million (US$50.84 million) in cash. Acquisition. GVC Holdings PLC, the multinational sports betting and gaming group, is pleased to announce that it has agreed to initially acquire 51% of the equity capital of Mars LLC (“Crystalbet”), with a commitment to acquire the remaining 49% in 2021. Crystalbet is one of the leading online gaming operators in the Republic of Georgia. Crystalbet was launched in 2011 and holds licences ... The terms of the agreement make provision for GVC s acquisition of the remaining 49 percent of Mars LLC in 2021, subject to specific buyer protections, and at a valuation at the lower of 7 times the 2020 clean EBITDA or Euro 150 million. Crystalbet, launched in 2011, offers a complete online gaming offer which includes sports betting, casino games, poker and peer-to-peer games throughout the ... GVC Holdings has announced the procurement of a 51% stake in Georgian operator Crystalbet for a €41.3m consideration, with a commitment to obtaining the remaining 49% in 2021.. Coming to the agreement with the firms owner Mars LLC, the FTSE listed sports betting and gaming group stated “Crystalbet is the largest online sportsbook, and the second largest online gaming brand overall, in the ... GVC Holdings has lauded the enhancement of its Crystalbet property, marking a “game-changer” for the Georgian sports betting and gaming brand’s customers. GVC Holdings has agreed a deal to acquire a 51% stake in Mars LLC (Crystalbet) for a consideration of €41.3m ($50.8m). Launched in 2011, Crystalbet holds licences to offer online gaming products such as sports betting, casino games, poker and peer-to-peer games in the regulated market of Georgia. CVC Holdings PLC and the leading online gaming operator in Georgia, Crystalbet just signed a multi-million deal agreement. The colossal betting group acquired the majority stake (51%) of Crystalbet. The remaining 49% is set to be purchased in 2021, according to the bilateral agreement. Reading Time: 1 minute GVC Holdings PLC, a gambling and online gambling operator in both business-to-consumer and business-to-business markets has sealed a deal to acquire a 51% stake in Mars LLC (Crystalbet) for a consideration of €41.3m ($50.8m). Crystalbet a “leading” online gaming operator which had its inception in 2011, holds licences to offer online […]
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