Sports lottery service provider 500,com Ltd today announced that it is acquiring approximately 93 percent of outstanding shares of The Multi Group Ltd for a total consideration of EUR49.8 million (US$56 million) in cash.
Headquartered in Malta, Multi Group operates Multilotto,com, which is considered one of the top online lottery betting and online casino platforms in the Nordic countries where it holds substantial market share. Operating under a Curacao eGaming license, Multilotto has a strong and balanced customer portfolio that has created a solid foundation for its expansion across Europe. Multi Group was recently granted remote gambling licenses from Malta, remote operating licenses from the UK and a remote bookmaker’s license from Ireland, which will further strengthen its market position and ability to rapidly expand into new geographic regions.
500,com Ltd will acquire approximately 93 percent of outstanding shares of The Multi Group Ltd.
Multi Group has grown rapidly since it began operating in 2015. In 2016, Multi Group generated unaudited net revenues of EUR10 million, unaudited net profits of EUR5.4 million, and EBITDA of EUR5.7 million.