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Gambling online company with the headquarters on the Isle of Man GVC Holdings became the owner of a controlling stake in Crystalbet. The company acquired a 51% stake in the Georgian operator Crystalbet for € 41.3 million. It has agreed to buy the remaining 49 per cent in 2021 for a maximum of €150m.
GVC hopes to benefit from their position as the largest online sportsbook in Georgia. GVC aiming to further enhance its profitability and position in its home market by leveraging the wider Group’s extensive portfolio of games content, CRM, digital marketing capabilities and purchasing power.
Kenneth Alexander, CEO of GVC, commented: “We are delighted to welcome Crystalbet to the GVC Group, having been impressed with what the management team has achieved thus far. Through access to GVC’s content, technology and digital marketing skills, we believe Crystalbet can become a clear leader in the regulated Georgian market. This acquisition is in line with our stated strategy of being a truly global player, with a focus on regulated markets”.
