Net Gaming strengthens UK position with maxfreebets acquisition
Malta-based firm buys UK sports betting affiliate for a total sum of €2.2m
Online gaming affiliate Net Gaming has strengthened its position in the UK betting market after acquiring maxfreebets.co.uk for a total of €2.2m, it was announced this week.
Malta-headquartered Net Gaming said it had paid an initial consideration of €1.6m, increasing by an additional €0.6m over the next 12 months if performance targets are hit.
According to Net Gaming, the €2.2m figure represents an EBITDA multiple of 3.4x for maxfreebets.
EGR Power Affiliates 2019
“I am very pleased to make this betting acquisition, as we have strong confidence in long-term growth generation from our betting vertical,” Marcus Teilman, CEO of Net Gaming, said.
“Through the acquisition, we increase our presence in the strategically important regulated UK betting market, while also strengthening our organisation within the betting vertical. We see good potential in the acquired assets,” he added.
The deal completed on 1 July.
Earlier this year, Net Gaming appeared in the annual EGR Power Affiliates rankings for the first time having reported a 19% year-on-year rise in revenue to SEK 190m for its affiliate arm.