GVC acquired 51% of Crystabet’s stakes

GVC Holdings need no introduction, since they run some of the greatest brands in the betting and casino industry globally. Needless to mention Bwin, Sportingbet, Betboo and Partycasino. Their latest acquisition is Crystalbet, the most popular online gaming firm in Georgia. That deal will see GVC entering in of the most upcoming markets in Asia and globally as well.

The terms of the deal

GVC announced that an agreement in the amount of 41.3 million euros was made. According to the agreement, the gigantic company will have to obtain the remaning 49% of the operator in 2021. This will proceed at a valuation of either the lower of seven times the 2020 clean EBITDA or 150 million euros. We should mention that Crystalbet established in 2011 and has licenses for various online gaming products. Including sports betting, casino games, poker and peer-to-peer games. They have the right to operate in the fully regulated market of the Republic of Georgia.

The reactions on the deal

In a statement announcing the acquisition, Mr Kenneth Alexande, who acts as the GVC Holdings CEO, commented. “We are delighted to welcome Crystalbet to the GVC Group. The management team impressed us with what they have achieved thus far. Through access to GVC’s content, technology and digital marketing skills, we believe Crystalbet can become a clear leader in the regulated Georgian market. This acquisition is in line with our stated strategy of being a truly global player, with a focus on regulated/regulating markets.”

On behalf of Crystalbet, Mr Koba Giglemiani, who is the company’s CEO, added. “When we were looking for a strategic acquirer to take Crystalbet to the next level, GVC was very much our first choice. GVC’s experience and track record in many different geographic markets, along with its technology and marketing skills were the key attractions for Crystalbet. We very much look forward to being part of GVC Holdings.”

Leave a Comment

Latest News

SEE ALL

January 16, 2019

Dragon’s Gift: A gift by Amatic

Amatic is one of the best online casino software providers. They welcome 2019 with a brand new unique creation. It is the Dragon’s Gift slot. Its subject and its designs style, we think that is ...

January 15, 2019

Blueprint Gaming-Iforium: A great deal

One of the most reliable online casino software provider, Blueprint Gaming, has declared that they’ve consented to an arrangement with Iforium. Blueprint is going to move their creations through...

January 12, 2019

William Hill Casino: Two new great offers

The year may be young, but William Hill already got two excellent casino promotions. The Big Spin The Big Spin is back at William Hill Vegas. Customers get a free go on our prize wheel daily, where po...

January 10, 2019

The Wiz: A high Volatile slot by ELK

A brand new creation is available on the market by ELK Studios. The Wiz give a chance to all the slot lovers to become a Mighty Wizard and go for big prizes. Try to land on the reels dragons, magical ...

January 9, 2019

Red Rake – UKGC: Great step for the Spanish provider

Red Rake makes its own Brexin! The Spanish based provider has quite recently anchored a Remote Gambling Software License conceded by the United Kingdom Gambling Commission. That empowers the game deve...

January 8, 2019

Turn Your Fortune: It’s your turn

When NetEnt launches a new slot, any slot-maniac can be sure that will enjoy a fantastic slot. Turn Your Fortune is one of a kind. The new NetEnt creation gives an essence of the luxurious French Art ...

January 7, 2019

Raging Rex: Dinosaur slot by Play n’ Go

The innovation and the creativity of the online software providers never stop. One of the most reliable and respectable game developers, Play n’ Go, created a terrifying, adventurous slot, that ...

January 5, 2019

The incredible 100 Joker Staxx by Playson

If you believe that you know everything about Joker Staxx slot machines, then you are wrong. That happens, because this month, Playson will release its brand new creation. It is the 100 Joker Staxx. W...

Top Slots

DISCOVER ALL
troll-hunters-logo
SuperFlip-logo
book of dead slot slotsday
Top Casinos Icon

Top Casinos


Slotsday has the best casinos out there. If you want to find a trustworthy partner for your joy, you can only find them here. And you can also get the best bonus out of any of these partners. Free spins, First Deposit Bonus or anything else, we got it!

Support: Live Chat, Email

Card image cap

William Hill Casino

WHG (International) Limited Casinos

GET BONUS

9.7

Support: Live Chat, Email

Card image cap

Novibet Casino

Novigroup Limited Casinos

GET BONUS

9.5

Support: Live Chat, Email

Card image cap

Mr Green Casino

Mr Green Ltd Casinos

GET BONUS

9.6

Support: Live Chat, Email

Card image cap

Casumo Casino

Casumo Services Limited Casinos

GET BONUS

9.8