BUCHAREST (Romania), February 23 (See News) - Czech sports betting operator Fortuna Entertainment Group said on Thursday that it will acquire Ireland-based Hattrick Sports Group's operations in Romania, Croatia and Spain for an undisclosed sum.
The transaction is a subject of regulatory approvals and until then both companies continue to operate separately as until now, Fortuna said in a press release.
Fortuna Entertainment Group aims to become new market leader in Romania, where it is present since September 2015 through a brand licensed agreement.
Under the agreement, Fortuna provides to Bet Active Concept and Bet Zone the right to use its trademark Fortuna.
Both Romanian companies are part of Penta Investments Group, the majority shareholder of Fortuna.
Hattrick Sports Group is the owner of the leading betting operator in Romania, Casa Pariurilor, the second largest operator in Croatia, PSK, and a joint venture partner in Luckia operator in Spain.
“Our intention is to keep and operate Fortuna and Casa Pariurilor brands in Romania, and PSK and Hattrick in Croatia, as the most trusted and exciting betting & gaming brands and the number one choice for customers,” CEO of Fortuna Entertainment Group, Per Widerström said.
The current business expansion is in line with Fortuna’s long-term strategy to become the number one licenced sports betting and gaming operator in Central and Southeastern Europe and industry leader in innovations, multi-channel offers, customer experience and financial performance, the company said.
“The combination of Fortuna and Hattrick Sports Group has a compelling logic and aligns strategically very well.
The transaction will add significant geographical reach and market diversity to Fortuna and will allow the group to further strengthen its position in the core markets and beyond," the CEO of Hattrick Sports Group, Carsten Sundberg, said.
The Fortuna Entertainment Group was established in 1990 originally in the Czech Republic and it is now based in the Netherlands.
Over time, it has grown into a holding company with operations in Slovakia and Poland.