Betsson has announced it will no longer proceed with its planned acquisition of Dutch-licensed gaming operator Holland Gaming Technology and its casino games
Betsson has announced it will no longer proceed with its planned acquisition of Dutch-licensed gaming operator Holland Gaming Technology and its casino games development studio, Holland Power Gaming. The company explicitly cited a lack of responsiveness and official approval from the Dutch gambling regulator, Kansspelautoriteit (KSA), by the agreed long-stop date as the reason for the deal falling through.
Betsson had originally announced the agreement to acquire Holland Gaming Technology Ltd and Holland Power Gaming BV on February 19, 2024. This acquisition was intended to be part of the company’s accelerating European M&A strategy. The total consideration for the deal was €27.5 million on a cash-and-debt-free basis, and it was to be financed with Betsson’s liquid assets. Crucially, the completion of the acquisition was explicitly subject to approval by the Dutch Gambling Authority.
In a statement on its website this week, June 3, 2025, Betsson noted that the Dutch Gambling Authority had not issued a decision by the agreed long-stop date, leading Betsson to unwind the transaction. As a result, the transaction will be reversed, meaning Holland Gaming Technology Ltd and Holland Power Gaming BV will be returned to the sellers. The purchase price, less a break fee, will be repaid to Betsson, with a total of €26.7 million expected to be reimbursed to the company. Betsson stated that the unwinding of the acquisition would not have any notable effect on the Group’s consolidated income statement.
This acquisition was intended to mark Betsson’s reentry into the Netherlands’ gambling market. This follows the operator’s previous withdrawal of its license application for the region in Q2 2023. At that time, Betsson cited “significant delays” in the approval process, as well as considerations related to resource allocation, as reasons for that withdrawal. At the time of this earlier withdrawal, Betsson had indicated that it might reapply for a license in the future. The current decision not to proceed with the Holland Gaming Technology acquisition raises questions about the company’s immediate plans for future entry into the Dutch market.
Betsson CEO Pontus Lindwall commented on the company’s financial position and future mergers and acquisitions opportunities. He noted that Betsson’s operating cash flow position of €86.4 million at the end of Q1 2025 places the operator in a “very strong cash position.” Lindwall has previously stated, as reported by iGaming Times, that M&A is a significant component of Betsson’s growth strategy, but that acquisitions do not occur on a weekly or monthly basis. He has conveyed that such opportunities arise when suitable conditions are met, and that while Betsson is “well geared” to pursue M&A, it will “not run ahead and just buy anything,” opting to wait for good opportunities. Betsson is scheduled to publish its financial results for Q2 2025 on July 18.
In conclusion, the failure of Betsson’s planned acquisition of Holland Gaming Technology highlights the challenges of securing timely regulatory approvals in the Dutch market. Despite the company’s strong cash position and clear M&A ambitions, the lack of KSA approval by the long-stop date has necessitated the unwinding of the deal, leaving questions about Betsson’s immediate strategy for re-entry into the Netherlands.
