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Unibet Acquires a Competitor
Apr 15, 2012
Unibet sportsbook seeks to strengthen its position with the latest acquisition.
Unibet Group just announced an agreement to buy one of the leaders in the sports betting market in the Scandinavian countries. Bet24, as casino gambling news report, is being acquired for 13.5 million EUR ($17 million) in cash. In 2011, Bet24 had gross revenues of $13 million.
The move will strengthen Unibet’s market share in Denmark and support the growth in mobile sportsbooks. Unibet will seek to migrate Bet24 clients to its platform and transfer employees to its base in Malta. This strategy is seeking to create organic growth in the Nordics and benefit from the economies of scale.
Unibet sportsbook offers a variety of betting types on multiple sports such as football, tennis, ice hockey, athletics, baseball, basketball, cricket, golf, handball, motorsports, rugby, and many others. Like its major competitors, such as Bet365, it is also offering online and mobile casino gambling as part of its platform.
As a result, the clients can pursue both sports betting and casino gaming such as online blackjack or poker from a single account.
Now, with the emergence of social gambling, where companies such as Facebook seek to profit from the gambling market, the online betting industry is facing tough competition, but many new opportunities, such as the potential legalization of gambling in the United States, are upcoming.
This year is also expected to see an increase in sports betting since the European Football Championships and London Summer Olympics will arrive soon.
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