Greentube has completed the acquisition of Admiral Sport in a move that tightens the Novomatic’s interactive division’s grip on the Italian market.
Lauding its latest acquisition as a “testament” to its Italy commitment, Admiral Sport will offer Greentube a betting and casino site in Italy, under the AdmiralYes brand, which has been operated by Novomatic Italia since 2012.
Moreover, the company also runs a retail network of more than 100 sports betting locations across Italy.
Markus Buechele, CEO of Novomatic Italia, noted: “Admiral Sport is a strong brand in the Italian market, both online and in retail, and we are very pleased with how the business has evolved over the years.
“With online continuing to grow strongly, under the umbrella of Greentube, Admiral Sport is best positioned to accelerate its business development and increase its market-share”.
The acquisition comes just months after Greentube announced the takeover of Italian developer Capecod Solutions, and will see it further expand its footprint in this established gambling market through synergies with the land-based sector.
The takeover from Novomatic Italia focuses the group’s activities in the country with all local online business now operated by Greentube. AdmiralYes will be the second B2C brand operated by Greentube in the country, with the Starvegas site being live since 2012.
Ronald van den Brink, CCO at Greentube, added: “We are thrilled to complete our second acquisition in Italy in a short space of time to further strengthen our position in the market.
“Admiral Sport is a renowned and trusted Italian player and through this takeover we will double our market share, giving us a better foundation to develop our future activities in the country.
“Italy is one of the most important regulated markets for online gaming and we see great potential to further grow the business over the next few years.”