DANISH ONLINE GAMING COMPANY ACQUIRED BY INVESTMENT GROUP
30th June, 2016 at 09:28:35
Gaming A/S has grown at 34% annually since launch in 2011.
Danish investment companies Genua and Dansk Automat Expert Holding have sold Århus-based online gambling company Gaming A/S to investment group Erhvervsinvest for an undisclosed consideration. As part of the transaction, Lars Holtug, a former senior partner at PwC in Denmark, will become chair of Gaming's board.
Gaming A/S operates the online gambling enterprise Spillehallen.dk and manufactures gaming machines. The company was created in 2010 through the merger of Compu-Game and Dansk Automat Expert, and has secondary premises in Esbjerg.
Since 2011 Gaming has achieved average growth rates of 34% annually.
The company is the second-largest online casino provider and the leading manufacturer of slot machines in Denmark.
Erhvervsinvest has previously invested in the Danish gambling sector with the buyout-merger of Danske Automat Spil and Elite Gaming in 2006 (see previous reports), which the investment firm has since exited.
Owner and chair of the Board of Directors at Genua, Mette Grunnet, said in a statement this week:
"Our contribution has been to help manage and professionalise the business through a long haul. We do not work with a fixed exit strategy, but on creating a solid, well-run and growing company. This we have done by focusing on strategy and execution, liquidity and accounting. It has enabled management to focus on what they do best. We are selling a healthy company that is ready to be taken to the next level by the employees and the new owners."
Erik Boye Hansen, CEO of Gaming A/S, added:
"We are looking forward to partnering up with Erhvervsinvest, whom we have a good knowledge of from their earlier investment in the gaming industry. We are convinced that the partnership will contribute to further accelerate the development of Gaming."
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