Read Time:1 Minute, 52 Second

pferdewetten.de Expands its Sports Betting Business with Acquisition of 25 Retail Shops European Gaming Industry News

Reading Time: 2 minutes

 

In a significant move to expand its presence in the sports betting market, pferdewetten .de has announced plans to acquire a company that operates 25 sports betting shops. SW Shops, a wholly-owned subsidiary of pferdewetten .de, has signed a letter of intent with a “renowned company in the German sports betting industry” for the expansion of its retail sports betting business. These shops are slated to operate under the sportwetten .de license starting from April 1, 2024.

 

Expansion of Betting Locations

Pierre Hofer, Executive Board Member of pferdewetten .de AG, stated, “With this acquisition, we are not only strengthening the expansion of our sportwetten.de betting shop network but also significantly intensifying our shop operations. In 2023, our focus was on the rapid development and expansion of the retail network. We achieved our target with 108 locations by year-end. Along with maintaining our expansion pace, we now aim to significantly increase our own portfolio, which currently stands at three stores.”

The acquisition will be carried out in two stages through a newly established company, in which SW Shops will initially hold a 30% stake. The acquisition of the remaining 70% is scheduled to be completed by 2026 at the latest. The purchase price for the initial 30% stake is approximately 6.3 million euros, with the price for the remaining 70% to be determined based on the financial results achieved in the fiscal year 2026.

 

Further Shop Development Plans

According to company reports, an agreement was also made for the establishment of additional shops by the established business partner in a second company, which SW Shops plans to acquire by the end of 2026. Until then, these shops will already be operating as franchise businesses under the sportwetten .de brand. “Through this agreement, we are securing a significant number of additional shops,” summarized Hofer. From 2027, these will also contribute to “undivided earnings impact.” Hofer added, “I am very grateful to our partner for the trust in our future collaboration. The management team will remain on board, continuing to support the operational development with their expertise and sales-oriented approach.”

Hunor Pal

Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

Average Rating

5 Star
0%
4 Star
0%
3 Star
0%
2 Star
0%
1 Star
0%

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post Abios: Counter-Strike accounts for 56% of esports betting
Next post Casino Market Industry Forecast Reveals Surge to $165.72 Billion by 2028 with Digital Transformation and Cryptocurrency Integration