Greentube bolsters Italy presence through Admiral Sport acquisition
Admiral Sport offers a betting and casino site in Italy under the AdmiralYES brand and has been operated by NOVOMATIC Italia since 2012. In addition, the company runs a retail network of more than 100 sports betting locations in the country.
The acquisition comes just months after Greentube announced the takeover of experienced Italian developer Capecod Solutions and will see it further expand its footprint in this established gambling market through synergies with the land-based sector.
The takeover from NOVOMATIC Italia focuses the Group's activities in the country with all local online business now operated by Greentube. AdmiralYes will be the second B2C brand operated by Greentube in the country, with the Starvegas site being live since 2012.
Italy has long been a key market for Greentube and this latest acquisition is testament to the company's commitment to the market.
Markus Buechele, CEO of NOVOMATIC Italia, said: "Admiral Sport is a strong brand in the Italian market, both online and in retail, and we are very pleased with how the business has evolved over the years. With online continuing to grow strongly, under the umbrella of Greentube, Admiral Sport is best positioned to accelerate its business development and increase its market-share".
Ronald van den Brink, CCO at Greentube, said: "We are thrilled to complete our second acquisition in Italy in a short space of time to further strengthen our position in the market. Admiral Sport is a renowned and trusted Italian player and through this takeover we will double our market share, giving us a better foundation to develop our future activities in the country. Italy is one of the most important regulated markets for online gaming and we see great potential to further grow the business over the next few years."