GVC Holdings has invested €3.5m in 15 per cent of shares in the Malta-based Betit Holding, parent company of the Betit Group.
The deal helps Betit to a valuation of around €23m just five months after launching its first site, Thrills.com.
GVC has the option to acquire the remaining 85 per cent of shares during 2017, based on a predetermined EBITDA multiple, at a minimum price of €70m.
Joakim Stockman, CEO of Betit Group, said: “Our focus has from the very start been to deliver an attractive, user friendly and exciting gaming experience. We believe there’s a void in the industry within these areas and we believe we have the staff and the expertise to deliver something extraordinary to the market.
“That an established operator like GVC has noticed us and is now making a strategic investment into our company is nothing other than a token that we’re on the right path and we believe we have a very interesting future ahead of us.”
