Spiffbet has acquired Malta-based Manisol Gaming with the brands Scandibet and TurboVegas in accordance with a previously published letter of intent
The acquisition is expected to increase Spiffbet's casino sales by more than 50 per cent There are clear synergies between Spiffbet and the acquired business.
The purchase price corresponds to SEK30m on a debt-free basis. In addition, there is a possible additional purchase price corresponding to SEK 6m.
In parallel with the acquisition, a directed new issue of SEK41m is carried out before issue costs, which is secured through subscription commitments. Spiffbet continues to consolidate the industry through acquisitions and structural transactions.
Manisol operates the online casinos Scandibet and Turbovegas, mainly in Europe via the same platform as most of Spiffbet's brands. Manisol is a well-established company with 10 employees in Malta.
The acquisition of Manisol increases Spiffbet's casino sales by more than 50 per cent calculated from outcomes in December 2020 and January 2021 for each business. The acquisition is rooted in Manisol's key employees and owners.
The acquired business is expected to be relatively easy to integrate into Spiffbet's casino business, as Manisol already works with the same technology platforms as Spiffbet. The merger means clear synergies and economies of scale.
