Developer and supplier of iGaming solutions Greentube is bolstering its Italy presence through the acquisition of gaming operator Admiral Sport, the company announced on Thursday.
Greentube, the interactive division of gambling heavyweight NOVOMATIC, expects the deal to further cement its position in the market. Admiral Sport offers a betting and casino site in Italy under the AdmiralYes brand, and has been operated by NOVOMATIC Italia since 2012. Additionally, the company runs a retail network of more than 100 sports betting locations in the country.
“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,” said Markus Buechele, CEO of NOVOMATIC Italia. “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 takeover from NOVOMATIC Italia focuses the group’s activities in the country with all local online business now operated by Greentube, a press release explains. AdmiralYes will be the second B2C brand operated by Greentube in the country, with the Starvegas site being live since 2012.
🎊 We are molto entusiasti to welcome #AdmiralSportSRL as they join the #Greentube family and bolster our presence in the #ItalianMarket as our second Italian #acquisition in just a few months! 🤌
Read more here: https://t.co/I8RechvRUG#AdmiralYes #Italy #AdmiralSport pic.twitter.com/TXfNnlhGZR
— Greentube GmbH (@_Greentube) February 24, 2022
“Italy has long been a key market for Greentube and this latest acquisition is testament to the company’s commitment to the market,” the company said in a statement. The deal will see the business expand its footprint in this established gambling market through synergies with the land-based sector.
“We are thrilled to complete our second acquisition in Italy in a short space of time to further strengthen our position in the market,” said Ronald van den Brink, CCO at Greentube. “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.”
According to the executive, Italy is “one of the most important” regulated markets for online gaming, and the company sees “a great potential” to further grow its business there “over the next few years.”
The acquisition comes months after Greentube announced the takeover of Italian developer Capecod Solutions, which was made public last November. The takeover of Capecod, which has been part of NOVOMATIC Italia since 2017, not only increases Greentube’s Italian game portfolio but also adds the first aggregator pole within its online offering.
We’re feeling ‘molto felice’ today! 🤌 Why? Because of #Greentube’s acquisition of the legendary Italian software house #Capecod Solution! 🎉
This deal opens up endless possibilities for games’ development & distribution. We can’t wait to get started! 💪
— Greentube GmbH (@_Greentube) November 10, 2021
The Integration of Capecod-developed products within Greentube’s offering is designed to further the group’s geographical extension by widening its product portfolio, with a particular focus on Italy, Greentube said at the time. It also allows Greentube to enhance the NOVOMATIC Group’s omni-channel strategy.
Greentube’s omni-channel technology is “at the forefront of gaming innovation” and converges online, mobile and land-based gaming, according to the company. The interactive division offers a diverse portfolio of video slots, table games, AWP reloaded slots, server-based gaming, social casino, video bingo, and more.
Admiral Sport is a concessionaire active in both the physical and remote management of sports and virtual betting, as well as any other type of iGaming authorized by Italian regulators. It is responsible for introducing, “for the first time in Italy,” the self-service mode for betting shops.