Unibet Solidifies Claim on French Market with Latest Acquisition
It was recently announced that Unibet, one of the biggest gambling operators in Europe, has purchased the Solfive Group. The Solfive Group is the owner of SPS Betting France which until now has been the employer of 25 people within trading, CRM, IT and marketing.
Thanks to their purchase, Unibet has gained access to the quickly growing French gambling market with a platform that is already licenced, operating and offering a great selection of sports betting and casino games.
It was reported that Unibet has paid £4.8 million as well as a net cash adjustment of £1.3 million which was paid up front. Unibet also gave Solfive funds so that they can pay off a fixed debt of £2 million. Unibet is expecting an earn-out depending on how trading goes in the first six months of operation.
The CEO of Unibet, Henik Tjärnström, said that the company recognises that in the short term it will be very hard to generate profits due to the current terms and conditions. However, he went on to say that Unibet thinks that in the medium term France will develop a far more “sustainable model” which will lead to the goals of player protection, fair competition and acceptable taxation. He hopes that through the purchase of Solfive, Unibet will be able to re-enter the French market with limited cost to the company and a real chance of taking advantage of longer term profit making opportunities.
At present Solfive is known as Eurosportbet.fr but this will be rebranded to Unibet.fr after a short transition period. They are hoping to build on the strength of the Unibet name and recapture their old French customer base.