A prominent online gaming company, Betsson, has recently made a strategic move in the South American market. Utilizing its subsidiary, SW Nordic, Betsson has purchased Inkabet, a well-known online wagering platform in the area. This tactical acquisition bolsters Betsson’s already strong foothold in the Latin American market, a region they have earmarked as crucial for their expansion plan.
The agreement sees Betsson initially paying $25 million, with the possibility of an extra $4 million contingent on Inkabet’s performance in the coming year. This performance-linked bonus hinges on Inkabet reaching specific revenue and earnings goals. In addition to the upfront payment, Betsson has also committed to supplementary payments amounting to $5 million, arranged as installments due in December 2022 and December 2023, contingent upon fulfilling certain criteria.
Inkabet, recognized for its sports wagering and internet casino offerings, has cultivated a robust presence in the western part of South America. Betsson intends to utilize Inkabet’s established name and clientele to further penetrate the market. To fund this purchase, Betsson will draw upon its revolving credit line, guaranteeing they retain the financial agility to pursue comparable strategic prospects in the future.
Inkabet has exhibited remarkable expansion, reporting a 146% surge in revenue in the year leading up to June 2021 compared to the preceding year. This acquisition is a clear indication of Betsson’s aim to solidify its dominance in the rapidly growing Latin American online gaming sector.
The head honcho at Betsson, Pontus Lindwall, is brimming with enthusiasm over their recent venture in Latin America. He views it as a pivotal stride in their ambition to become a leading force in the region’s gaming industry. This comes on the heels of several other notable triumphs, such as acquiring firms like Suaposta and Colbet. They are undeniably on a winning streak and feeling very bullish about their prospects in Latin America.
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