Redbet Poker Acquires Heypoker

Wednesday July 20, 2011

Redbet Holding AB's subsidiary Redbet Gaming Ltd has acquired Heypoker, a gaming business focused on Scandinavia and Eastern Europe.

Redbet Gaming Ltd has through an asset deal acquired Heypoker, a gaming business focused on Scandinavia and Eastern Europe. The deal includes the gaming site Heypoker and its customer base with approximately 37,000 registered customers. Heypoker offers a range of gaming services, including poker, casino and betting. Heypoker is part of the Ongame Network, one of the world's largest poker networks. Heypoker generated a gross profit of around 2.7 MSEK during the first quarter this year, of which poker represented the largest part.

Redbet Poker intends to maintain the Heypoker brand and develop the business. A number of members of the Heypoker team will continue to operate the business together with the existing Redbet organization.

The acquisition is paid partly in cash and partly with shares in Redbet Holding AB.

Jorgen Andersson, CEO of Redbet Holding AB:

"Redbet's growth strategy is based on both organic growth and acquisitions. The acquisition of Heypoker strengthens Redbet's business and accelerates our growth in selected markets."