Superbet Group has agreed to acquire Belgium’s Napoleon Sports & Casino.
The Betting and Gaming group buys 100% of Napoleon’s shares from Waterland Private Equity Investments. Napoleon has been owned by Waterland for the past six years.
The acquisition adds momentum to Superbet’s long-term business goals, allowing the group to accelerate its online business development.
Johnny Hartnett, CEO of Superbet Group, said: “Belgian Napoleon’s key market and brand positioning represents an ideal acquisition opportunity to fulfill our global expansion plan.
“We also provide a growth strategy that generates additional revenue in regulated markets with a strong online profile. We are also looking forward to welcoming our experienced and talented team into the Superbet family. We believe the Superbet family is in an excellent position to increase our market share in Belgium and beyond.”
After raising €175m ($206.5m) of minority investment from Blackstone Group in 2019, Superbet expanded its reach in online gaming by acquiring a 60% stake in online casino operator Lucky7 last year.
Tim de Borle, CEO of Napoleon Sports & Casino, said:
“At Napoleon, we look forward to embarking on the next chapter of thrilling projects and international experiences. Finally, I would like to thank Waterland for their support over the past six years.”