Betsson buys Kroon and Oranje Casino to enter Dutch iGaming market
Published on by Adam
The biggest providers of online casino gaming directed to Dutch players, Kroon Casino and Oranje Casino (both brands owned by the Maltese based KroonandOranje Group) are, as was announced yesterday, purchased by the (nowadays) also Maltese based online casino Betsson. Betsson is owned by the Swedish holding Betsson AB and is one of the largest European online betting and casino gaming providers, holding other brands like CasinoEuro, Harry Casino and Betsafe.com. With the purchase Betsson becomes the biggest online casino operator on the Dutch market.
Like the governments of many European countries already have done or are doing at this moment also the Dutch authorities are busy regulating their national online casino gaming market. Their first step was to install the Kansspelautoriteit, a casino, betting and lottery regulating and controlling body reporting to the Dutch secretary of Justice. This body immediately obliged all providers of online casino games directed to Dutch players to offer their services only in English, if they wanted to be eligible for an official Dutch license once the legislation on online gaming would be in place. It’s expected the Dutch market will be regulated late 2015.
With the purchase, involving € 130 million, Betsson has bought two online casinos that in 2013 together grossed € 32,5 million (with a net earnings of € 22,1 million) on a 209.000 customer database. It also takes a “piece of the pie” out of the (already regulated) Belgian online casino gaming market, as Kroon Casino also is active in Belgium. It’s estimated the Betsson income generated from locally regulated markets with the purchase comes to 25% of the company’s total yearly revenue.
Kroon Casino and Oranje Casino are owned by 3 individuals that will continue to serve as advisors. Betsson has paid € 30 million in cash and € 60 million worth in Betsson shares, and (depending on the final outcome of the regulations as set by the Dutch government) will pay another € 30 to € 40 million for the two brands.
We can congratulate Betsson with the purchase, but also the Dutch players (that will continue to play in a safe and reliable casino gaming environment) AND Netent as both Betsson, Kroon and Oranje casino offer the exciting casino gaming products developed by Net Entertainment.