Gaming1 inks partnership deal with CVC to turbocharge growth
Private equity and investment firm to support operator’s expansion in regulated online gaming markets
Gaming1, the entertainment branch of Ardent Group, has signed what it describes as a “transformational deal” with CVC Capital Partners Fund VIII to fuel the operator’s “next phase of growth”.
As part of the agreement, which is subject to regulatory approvals, CVC will support Gaming1’s growth in regulated online gaming markets with its technology and omni-channel approach.
Boasting a workforce of 1,300, including more than 400 in its digital hub Liège, Gaming1 has a presence in nine countries, including Portugal, France and the US with its joint venture Gamewise forged with American casino operator Delaware North.
As a prominent omni-channel operator, Gaming1 is a market leader in Belgium with its brands Circus and 777.
CVC, which has $125bn (£92.41bn) assets under management and operations in 25 locations, has invested in leading online and retail European operators Tipico, Sky Bet and Sisal, the latter of which was recently acquired by Flutter Entertainment.
Emmanuel Mewissen, CEO and founder of Ardent Group, said: “In a rapidly changing world, the key to success is adapting. By partnering with CVC, we will benefit from their global, sector and technology expertise, which will support our company to continue on our successful growth path and further build our digital capabilities.
“We will stay loyal to our values and Belgian roots, as shown by our recent move to our digital hub in the heart of Liège. This desire to anchor ourselves in and to contribute to our country’s growth is an integral part of our identity and will continue to guide us daily,” Mewissen added.
In December, Gaming1 promoted David Carrion to COO of its interactive division.