superbet doubles down on lucky7s challenger investmentby Joker 27.07.2020 0 comments
Pan-Eastern European betting firm Superbet Group has expanded its online casino portfolio, after confirming that it has acquired a 60% stake in Lucky7 Ventures.
Superbet stated that its transaction follows an initial venture investment in Lucky7, allowing the online casino start-up to develop its multi-market operations targeting growth in Europe and the Americas.
Founded in 2019 by former Dunder co-founder Olof Örn (CEO) alongside Magnus Petersson (former Expekt ) and Karl Ahlberg, Lucky7 aims to launch a series of challenger online casino brands across European jurisdictions within the coming months.
Confirming Superbet’s latest investment, Örn branded the partnership as ‘a perfect match’, as Lucky7 continues to aggressively expand its multi-market footprint.
“Superbet Group is known as the best multichannel sports betting operator in the Central and Eastern European region,” Örn stated.
“We are already a strong company both in terms of absolute numbers (€17M NGR in Q2), but also in terms of product, player experience, online casino, and digital marketing expertise.”
In its transaction statement, Superbet marked the investment as one of vital geographical significance, supporting the betting group’s new growth objectives formed by US investor Blackstone Group.
In 2019, Blackstone Group secured a €175 million investment in Superbet as its latest gambling sector venture – aiming to develop the leading betting group for burgeoning Eastern European and CIS markets.
The transaction will see Superbet undertake its first venture investment under the leadership of Johnny Hartnett, a former Paddy Power Betfair executive who was appointed as Group CEO last August, tasked with leading the firm’s accelerated international expansion plans.
“Lucky 7 is an acquisition that complements our current expertise well and further diversifies the SB Group across multiple geographies. Additionally, it significantly boosts our online gaming revenue and brings product and marketing expertise the group will benefit from for years to come,” Hartnett stated in Superbet’s investment note.
“I have long been an admirer of Olof and the team from the other businesses they were involved within the sector. Being able to partner with them to grow together is a great opportunity. The initial weeks of the partnership have strengthened my view that we’ve a great growth opportunity in front of us”.