Betsson AB Seeks SEK Bond for Increased Corporate Acquisitions
Stockholm-listed European sports betting operator Betsson AB has published a short market update, confirming that it has issued a mandate to Nordic investment banks, DNB Markets and Swedbank, in order to “arrange fixed income investor meetings starting 14 November 2016”.
The betting operator is seeking to secure a three-year bond issue, from which the proceeds will be used to facilitate Betsson’s ongoing acquisition strategy, its refinancing debt, and general corporate purposes.
Betsson AB CEO and President, Ulrik Bengtsson, commented on the update, saying: “Betsson has a clear acquisition strategy and we constantly review opportunities that could materialise in the short or medium-term. The planned bond issue creates increased financial flexibility for Betsson to continue to be active in the consolidation of the gaming sector.”
Betsson continues its strategy of focusing its growth via acquisition in related markets. The operator’s recent acquisitions include TonyBet’s Lithuanian sports betting asset for a total consideration of €4 million, for which the deal was completed in September 2016.
Following a hard second half in 2016, Betsson governance declared that the operator was back on track after experiencing a successful third quarter performance, recording an operating income of €24 million.
Last October, Betsson revealed a new brand refresh for its flagship division Betsson.com, launching the new tagline: “Anytime’s Playtime”
This week, Betsson is also exhibiting at Malta’s biggest iGaming summit of the year, SiGMA16. If you’re interested in joining us at this gaming summit this week from today till Saturday 19th, click here to register.
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