Mr Green completes Garbo acquisition

Online casino firm Mr Green is to exercise options to acquire two of its subsidiaries pending final approval at the operator’s AGM next week.

All shares in DSRPTV, the owners of online casino brand Garbo.com, and Social Holdings, owners of social casino developer Social Thrills, are to be acquired by Mr Green subsidiary Green Gaming Group.

Mikael Pawlo, CEO at Mr Green, said the two firms focused on “strategically highly attractive audiences” on both mobile and Facebook platforms.

“There is considerable synergy potential between the two acquired companies and Mr Green, in terms of both marketing and i-gaming development,” he added.

Green Gaming Group will pay an initial purchase consideration of €500,000 (£412,000) for DSRPTV however minority shareholders may receive an additional purchase consideration in the future.

Pawlo currently owns 78.9% of shares in DSRPTV through Derzhava Holding and will not be entitled to any additional consideration.

Green Gaming Group already owned 41.85% of shares in Social Holdings and will pay a maximum of SEK16.63m (£1.5m) for the remaining 58.15% of shares, with an initial payment of SEK2.22m (£200,000).

Garbo, an online casino targeting female players in Sweden, was initially launched by Mr Green in October last year before the operator revealed plans to expand it with additional language launches.

Social Thrills launched Spin Tower Casino, Mr Green’s first social casino product, in November last year.