Greentube acquires Admiral Sport in move set to double market share in Italy
Greentube has completed its second acquisition in Italy in just a few months after the recent takeover of Admiral Sport from Novomatic Italia, a move that the Austrian developer and supplier of iGaming solutions says will double their market share in the European country.
A “testament” to its commitment to the market, the acquisition will now see Greentube responsible for an online betting and casino site in Italy, which falls under the AdmiralYes brand and has since 2012 been operated by Novomatic Italia. Additionally, the company is responsible for a retail network of 100-plus sports betting locations in Italy.
Growing market share:
Explaining the significance of the deal, Markus Buechele, Chief Executive Officer for NOVOMATIC Italia, said…
…Admiral Sport is a “strong brand” in Italy’s online and retail market, and they 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.”
As mentioned, the acquisition closely follows the Novomatic Interactive division’s November 2021 takeover of experienced developer Capecod Solutions, which has been part of Novomatic Italia since 2017. The strategic move sees Greentube further expand its presence in Italy’s established gambling market through “synergies” with the brick-and-mortar sector.
The takeover of Admiral Sport from Novomatic Italia “focuses the Group‘s activities” in Italy, with Greentube now responsible for operating all local and online business. AdmiralYes now becomes the second Greentube-operated B2C brand in the country. Starvegas.it has been live since 2012.
Significance of deal:
Also commenting on the takeover, Ronald van den Brink, Chief Commercial Officer for Greentube, said they are “thrilled” to complete their second acquisition in Italy in “a short space of time” to further strengthen their position in the market.
The COO adds that 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.”
Group-wide accolades:
Recently, Greentube’s parent company, Novomatic, was honored as Austrian Leading Company by the“Leitbetriebe Austria” platform. A four-time winner of the award, Novamatic Executive Board Member Johannes Gratzl explained the sustainable corporate strategy during the presentation of the certificate…
…stating that as “one of the largest gaming technology groups in the world,” with approximately 21,000 employees at over 45 locations worldwide, “we pay particular attention to the implementation of sustainable ESG measures.
“We therefore consider the award as ‘Austrian Leading Company’ as a confirmation of our efforts in this important area, which are also reflected in top rankings in international ESG ratings and successful G4 certification in accordance with the highest international player protection standards.”
Another industry recognition, Multichannel Campaign of the Year, was recently awarded to Greentube subsidiary, Funstage, via Heptagon Awards 2022, which is organized by leading CRM marketing hub Optimove.
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