Superbet, a Bucharest, Romania-based betting and gaming business, is to acquire Erembodegem, near Aalst, Belgium-based Napoleon Sports & Casino.
The amount of the deal was not disclosed.
The acquisition – subject to closing – will see the purchase of 100% shares of Napoleon Sports & Casino to augment Superbet Group’s growth across Europe and beyond, diversifying its CEE focus and accelerate online business development.
Led by CEO Tim de Borle, Napoleon Sports & Casino is an entertainment company providing offline of online sports betting and casino games. With approx. 570 employees, including the casinos and arcades all over Belgium, the company has been owned in the past 6 years by Waterland Private Equity Investments, a pan-European investment fund, which now sold its stake to Superbet.
Napoleon Sports & Casino’s management team will remain in place, operating from Aalst, combining and sharing their own expertise with Superbet’s knowledge and resources. This deal will allow Napoleon to expand its global reach without having to leave its native country.
Founded in 2008 and led by CEO Johnny Hartnett, Superbet Group is a pan-European betting and gaming operator which has become one of the largest providers of online entertainment in Central and Eastern Europe. Headquartered in Bucharest, the company has offices in Romania, Malta, Cyprus, Croatia, Poland, Austria, Serbia, Slovakia and the United Kingdom now is seeking to accelerate its growth in Western Europe as well. The team now includes more than 4,000 people.
Commenting on the deal, Hartnett said: “Napoleon’s core market and brand positioning in Belgium represents the ideal acquisition opportunity to deliver on our global expansion plan. It also delivers on our growth strategy of bringing in additional revenues from regulated markets with a strong online profile. Additionally, we’re looking forward to welcoming a hugely experienced and talented team to the Superbet family, who we believe are exceptionally well placed to deliver on market share gains in Belgium and beyond.“
In 2016, the company launched its online business and has been continuously investing in advancing proprietary technology, including a social network integrated in a mobile app.
Superbet’s expansion has been supported by a strategic investment of €175m from Blackstone Group, which has closed in 2019. This also enabled the acquisition of a 60% stake in online casino operator Lucky7, aimed at expand its reach in the online gaming segment.
During the deal, Superbet was advised by Oakvale Capital, PJT Partners, Latham & Watkins, PwC, CMS and Herzog Fox & Neeman. The sellers were advised by Houlihan Lokey, EY, PwC, and Allen&Overy.