Swedish Redbet buys Heypoker.com
An online gaming operator from Sweden Redbet Holding AB has bought Heypoker.com, a gaming site whose target audience is in Nordic countries and Eastern Europe, previously owned by 360 Holding AB. Heypoker has been acquired by Redbet Gaming, an affiliate of Redbet Holding, through an asset deal including the site itself and its client base containing about 37,000 registered players. Redbet paid the acquisition partly in Redbet Holding AB shares and partly in cash. The deal value remains undisclosed.
Heypoker.com, which works on the base of the Ongame Network, along with poker offers its players an online casino and sports betting. During the first quarter of the year its gross profit was about SEK2.7m, where poker made the biggest part. Jorgen Andersson, Redbet’s CEO declared that the growth strategy of Redbet was based on organic growth as well as on acquisitions. So, buying of Heypoker made Redbet’s business stronger and contributed to its expansion in selected markets.
Redbet’s intention is to keep and develop the Heypoker brand working with some of the Heypoker team members. After in June 2006 the site for online betting exchange 360Bet.com was launched, 360 Holding and Redbet worked together till April 2007 when the site was closed. Now 360 Holding runs the sites called Finansbet.com and PokerPanthers.net. Redbet Holding shares AB are now trading at SEK1.95 for each share in Stockholm as at 19th of July.