Betsson enters Belgium with betFIRST, Groupe Partouche

Betsson Group is making a play for the Belgian sports betting market with the company tabling an offer to buy out betFIRST Group, a sports betting and gaming business, in the country. The proposed deal is worth €120m, with up to €3m subject to earnout payout which will apply when certain conditions are met, the company informed in a press release.

In detailing the transaction, Betsson Group said that the transaction would be on a cash and debt-free basis, and it’s based on ten times betFIRST’s estimated EBITDA for the financial year of 2023, the company said on its official website. BetFIRST is a particularly strong asset to be acquiring in the market as well.

Commenting on this opportunity Betsson AB CEO and PresidentPontus Lindwall said that the company was excited to be entering the country’s regulated gaming and betting market. This move is strengthened by the announcement that Betsson Group is also teaming up with Groupe Partouche, a strong locally-represented gambling brand, which will focus on online casino services in regulated gambling markets.

"We are very excited about entering the Belgian market together with our partners Groupe Partouche and see a strong strategic fit with the acquisition of betFIRST," Lindwall said. He confirmed that the Group is looking to scale and expand its presence in local and regulated markets rapidly, something that will now be realized through the entry into the Belgium market.

Belgium has had online gambling up and running since 2011, and the market as a whole resonates strongly with Betsson’s ambitions for Europe and its global strategy in general. The partnership with Groupe Partouche is similarly important as the firm owns licenses in France and Switzerland, but also runs land-based casino properties in Belgium, which Betsson Group believes can be extended to online casinos.

Betsson Group used the occasion of the announcement to confirm that it is looking to secure an online casino offering in Belgium and is now awaiting regulatory licenses and approvals before it can make this a reality – and very possibly in 2023. Both Groupe Partouche and BetssonGroup are keen to explore new partnership opportunities by working together in Belgium.

In the meantime, betFIRST is one of the leading operators in the country with the company holding licenses for both online sports betting and online dice games. Apart from running a successful online betting business, betFIRST also runs 450 sales points, giving Betsson Group a firm foothold in the Belgian regulated market.

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