Entering a new market is the gambling, betting and casino industries is never an easy task. The reputation and the brand awareness matter a lot, and such valuable items as the client databases are of the supreme importance. On top of that, obtaining a proper regulation is a time-consuming task on its own. This is why many companies often decide to acquire a certain company in the foreign market instead of developing its own brand from scratch. Mr Green is not an exception, as it just entered the Danish gambling market by acquiring Dansk Underholdning for 9 million EUR.
Even though the acquisition amount may not sound like a lot, Mr Green has made a great offer in terms of the Earnings Before Interests, Taxes, Depreciation and Amortisation. According to the news from the Norskecasino.casino website, Mr Green & Co has paid out seven times more than the EBITDA of Dansk Underholdning.
This acquisition seems to go inline with the Mr Green’s strategy, as it was planning to enter the Danish market in the first half of the year. It does seem that the deal has been a match made in heaven for both of the companies. By purchasing Dansk Underholdning, Mr Green has gained a quick access towards the new market and has also received a few promising local bingo brands. As for the Dansk Underholdning, the company has been sold at a generous value, providing its CEO and Founder, Peter Eugen Clausen, with a great cash out. On top of that, he will remain the CEO of the company and will assist Mr Green’s staff in its successful expansion in the country.