Glitnor Group completes OneCasino acquisition
Deal to acquire the multi-national operator, as well as its in-house game studio, expected to close in the first half of 2025
Glitnor Group has signed a share purchase agreement to acquire multinational igaming operator OneCasino as the operator flexes its M&A muscles once again.
The undisclosed deal is expected to close in H1 2025 and is subject to gaining the necessary regulatory approvals.
OneCasino, a Malta-based online casino brand, was launched in 2016 and is headed up by CEO Mark Schram.
The operator is live in the Netherlands, Spain and Denmark as it holds local licences in each jurisdiction. It is also licensed by the Malta Gaming Authority and has a .com site.
According to Glitnor, OneCasino is also planning to enter the German market pending final licence approval from the country’s regulator, the GGL.
Glitnor said that the acquisition will “significantly enhance the group’s financial scale and create further geographical reach across Europe”, where the firm will have access to more than eight markets.
As part of the deal, the company will also gain control of OneCasino’s in-house game studio, with the operator also boasting a proprietary tech stack.
Glitnor also estimated that on a pro forma basis, revenue for the combined parties would surpass €150m for 2024.
Glitnor CEO Richard Brown said: “We are tremendously excited to welcome OneCasino and its team into the Glitnor Group. The transaction accelerates our long-term vision to become a leader across high value, regulated markets in the igaming industry.
“The hugely complementary geographical profile and high-quality product OneCasino have rapidly expands both companies’ short- and long-term addressable market.”
He added: “Mark and the team at OneCasino have built a fantastic company over the last [few] years, creating a great product and working in a range of competitive regulated markets and have a proven track record of success.
“We are very excited to combine the two companies’ offerings and accelerate our growth potential.”
OneCasino’s Schram commented: “We’re incredibly proud of what the OneCasino team has accomplished over the years. Joining forces with the Glitnor Group marks an exciting new chapter for us as we continue to grow and expand into new markets.
“The shared vision and synergies between both companies make this merger a perfect fit, allowing us to further enhance our proprietary technology and product offerings while continuing to focus on providing exceptional gaming experiences to our customers.
“Together, OneCasino and Glitnor are sure to become a leading force in the regulated igaming space, and I look forward to the exciting opportunities ahead.”
The acquisition of OneCasino came after Glitnor acquired a 37.5% stake in New Jersey-facing online casino brand Playstar in July 2023.
The operator’s planned acquisition of Time2play Media (known as KaFe Rocks at the time), fell through in November 2022.
Time2play was eventually snapped up by Gentoo Media in a deal worth up to €35m.