SuperBet Adquires The 60% Of Lucky 7

Pan-Eastern European betting firm SuperBet Group announced on last monday that it secured a 60% holding in Lucky 7 Ventures, acquiring a majority stake in the online casino business.

founded by Olof Orn, Magnuss Petersson and Karl Ahlberg, Lucky 7 was launched in early 2019 and accepted start-up capital from SuperBet, allowing the casino to develop its multi-market operations targeting growth in Europe and the Americas.

Lucky 7 aims to launch a series of challenger online casino brands across European jurisdictions in the coming months. Confirming SuperBet’s latest investment, Orn branded the partnership as a perfect match: “SuperBet Group is known as the best multichannel sports betting operator in the Central and Eastern European region. We are already a strong company in terms of absolute numbers, but also product, player experience, online casino and digital marketing expertise.”

SuperBet, which is yet to disclose terms of the new deal, marked the investment as vital geographical significance in supporting the betting group’s new growth objectives. The firm is Romania’s dominant betting operator and recently expanded into Poland’s regulated online wagering market. The company has also pledged to expand its operations on an international basis following a major cash injection from Balckstone Group hedge fund last year.

In addition, the transaction will see SuperBet undertake its first venture investment under the leadership of Johnny Hartnett, a former Paddy Power Betfair executive who was appointed as Group CEO last August.

“Lucky 7 is an acquisition that complements our current expertise well and further diversifies the SuperBet Group across multiple geographies. It significantly boots our online gaming revenue and brings product and marketing expertise the group will benefit from for year to come. I have long been an admirer of Olof and the team from the other business, they were involved with in the sector. Being able to partner with them to grow together is a great opportunity for both companies.” That’s what Hartnett stated in SuperBet’s investment note.

From the other side Orn from Lucky 7 added: “We have a perfect match here. On the one hand we have Lucky 7, a relatively new but already strong company, both in terms of numbers, product, player experience, online casino and digital marketing. On the other hand, there is SuperBet known as the best multichannel sports betting operator in Central and East Europe. We will make great things together.”

SuperBet is already a major player in its home territory, reporting turnover of 2.8 billions of euro in 2019 and entering into the country’s top 10 domestic business with a valuation of around 700 millions of euro.