Romanian SuperBet Gambling Operator has been pushing for international expansion. The operator has recently acquired a majority stake in Lucky7 ventures as part of the expansion mission.

SuperBet on Monday announced that it has agreed to buy 60% of Lucky 7 Venture. Lucky 7 is a casino business founded by Olor Örn, Magnus Petersson, and Karl Ahlberg. The terms of the deals were not disclosed however SuperBet did mention that it invested in the venture as startup capital in 2019.

Lucky 7 operates several casino brands across Europe and the Americas. It also claims to be waiting to be launched in three new markets in the coming year. The cofounder claimed that the company did good progress during the COVID19 pandemic and recorded €17mn turnover during the second quarter of the year.

SuperBet is one of the prime brands in Romania and has recently expanded to Poland’s online market. It missed deadlines though before going live in Poland. The company aims to expand to other regions after it received a good cash infusion from the Blackstone Group.

Johnny Hartnett, CEO of SuperBet spoke about the deal and said that it is a win-win deal and would bring good luck to everyone. Hartnett assumed the position in SuperBet last August, he was an executive Paddy Power Betfair. He shared that with Blackstone Group they have the vision to become one of the biggest brands in Europe in the coming two to three years.

He did mention that the current pandemic has delayed the achievement but the goal is unchanged for them.

SuperBet is one of the most successful operators in Romania and has reported €2.8bn turnover in 2019 and has entered in the top10 of Romania. It has increased almost five times in the last five years. The company has faced tough times in 2020 due to pandemic like every other operator in the world.

Source: https://calvinayre.com/2020/07/28/business/superbet-acquires-majority-stake-lucky7-online-casino/

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