Betsson AB has purchased the leading Baltic operator TonyBet
One of the most popular Scandinavian gambling companies Betsson AB has declared the purchasing of leading Baltic betting company Lošimų Strateginė Grupė, which owns famous TonyBet sportsbook. Betsson AB has bought the second largest operator in Lithuania, for €4 million ($4.5 million) and thereby strengthened its position in the Baltic region.
Betsson AB CEO Ulrik Bengtsson stated that that purchase was a profitable strategic step for Betsson Group, since they set a goal to increase revenue on ranging markets. He also added that the company would continue to expand its influence on the European market both through natural growth and through acquisitions.
TonyBet has over 20 betting shops in Lithuania, and also offers its customers to bet on sports online. It is considered to be an average performer on the European market and is very popular among Russian bettors.
In late July, Bettson AB has published the financial report for II quarter of 2016, according to which the total revenue of the operator grew by almost 9%, but net profit compared to the same period last year fell by more than 27%.
It is to be recalled that in July 2015, Bettson AB has acquired the Georgian online bookie Europe-Bet and therefore entered Caucasian gambling market.