Acquired Company Integrates into evoke plc's Romanian Assets following €10 Million Capital Infusion
In a significant move, evoke plc, a leading global online gaming and sports betting operator, has announced the acquisition of a 51% stake in New Gambling Solutions (NGS) SRL, the owner of Winner.ro in Romania. This transaction, expected to close in the third quarter of 2024, is pending legal clearance and is described as an 'incredibly exciting transaction' by the company.
The acquisition is expected to bolster evoke plc's position in Romania, making it the fourth largest Business-to-Consumer operator in the country. This marks evoke plc's fifth core market, following its operations in the UK, Spain, Denmark, and Italy, as announced in March.
NGS, the seventh largest operator in Romania, has been credited with Winner.ro's success due to its 'highly localized approach,' competitive advantages in product platform, customization rate, and network of deposit points. The acquisition is projected to boost earnings for evoke plc, with Winner.ro delivering €19 million ($21 million) in Gross Gaming Revenue (GGR) in the first half of the current year.
The acquisition of Winner.ro for €10 million ($11 million) is also expected to further cut the group's leverage for evoke plc. By 2026, evoke plc will own between 51% and 57% of the business, based on its performance markers.
In addition to the acquisition, evoke plc plans to grow its market in Romania through a multi-brand strategy and local expertise, in parallel with its complementary 888 casino brand. The 888.ro brand will be added to NGS, creating a combined entity with a 7% market share in Romania.
The acquisition of Winner.ro by evoke plc is not the first step in the company's expansion in Romania. Winner.ro has been operating in Romania since 2019, and its growth has been consistent. Romania's GGR was €1.1 billion ($1.22 billion) in 2023, according to industry forecasts, which also predict a 13% compound annual growth rate for Romania's GGR up to 2026.
As evoke plc continues to expand its operations, the acquisition of NGS is expected to add significant value to its previous plans, positioning the company for continued success in the competitive online gaming market.
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