The acquisition of Nordic Betting Plc has been announced by Unibet Group Plc. Nordic Betting is best known for its Bet24 gaming operation. Modern Times Group sold Nordic Betting to Unibet for approximately €13.5. Unibet has hopes of firming up their position in the recently regulated Danish market.
The OnGame Network hosts Bet24 which has a wide range of sports betting products and online gaming across Europe that includes poker. A team of poker pros recently came on board Bet24; some of Northern Europe's top players like: Jesper Hougaard, Paul Foltyn, and World Championship of Online Poker (WCOOP) Main Event winner Thomas "kalllle" Pedersen.
Bet24 is expected to be integrated into Unibet's existing operations with a re-branding of Bet24's products and services; Bet24's customers will also be migrated to the Unibet platform. Approximately 45 Nordic Betting Ltd employees will be transferred to Unibet's operations in Malta according to the agreement.
“The sale of Bet24 is in line with our focus on our core broadcasting operations," said MTG President and CEO Hans-Holger Albrecht. "We have developed and expanded our online betting and gaming businesses over the past seven years as the industry has become more and more competitive.
"Unibet is one of the largest and most established players in the European market and therefore provides an attractive platform for Bet24 customers and for the further development of the business."
Gross winnings of approximately €10.5 million were reported in 2011 by Nordic Betting Ltd.