(PRESS RELEASE) — MRG has today completed the acquisition of the majority of the Latvian iGaming operator 11.lv and intends to launch the Mr Green Casino and Redbet Poker brands in the Baltics.
On 23 May 2018 MRG announced the acquisition of 11.lv, which is a well-known Latvian iGaming brand with a focus on sportsbook and the third-largest iGaming operator in Latvia. The company has a gaming license in Latvia and offers betting, casino and live casino.
”Now we expand into the Baltics and foresee promising growth opportunities for Mr Green and Redbet in the region,” says Per Norman, CEO of MRG.
MRG has acquired 75% of the shares. The purchase price amounted to €2.8 million based on an enterprise value (debt-free basis) of €3.7 million. The purchase price was paid in cash. The acquisition will have a positive effect on MRG’s revenue, profit and cash flow in 2018.