By purchasing a’ significant majority stake’ in Newcastle-based Bede Gaming, the German gambling company Gauselmann Group has expanded its digital footprint.
The acquisition will allow Gauselmann Group to build new opportunities before Germany’s online gaming market starts in 2021.
CEO and founder of the Gauselmann Group, Paul Gauselmann, commented: “Bede’s technological expertise is very impressive and its highly complex solutions are the first choice for leading gaming companies not only in the UK, but around the world.
“This acquisition will allow us to significantly broaden the existing technology base within the Group and at the same time enable us to offer it to our customers and partners.”
Gauselmann will further extend its presence on the North American lottery market through Bede Gaming’s relationship with the Ontario Lottery and Gaming Corporation (OLG), under the terms of the new agreement.
Bede Gaming Chairman, Joe Saumarez-Smith added: “We are delighted that the Gauselmann Group has acquired a majority stake in Bede. Gauselmann’s long-term prospects and financial strength will allow us to further enhance our range of products and services to existing customers as well as win new business partners.”
Bede Gaming will work within the Gauselmann Group as an autonomous business entity and will continue to retain its offices in Newcastle on Tyne, Sofia and Toronto. The management will also continue to have a interest in the company.
In connexion with this deal, Oakvale Capital, CMS and BDO have served as advisors to Bede Gaming. Addleshaw Goddard and Grant Thornton had been advising the Gauselmann Party.
It’s a BIG day in the Bede world! We’re incredibly excited to announce that we’re joining the Gauselmann Group – read all about it here! https://t.co/rRA13BhayO#BeMoreBede #BigNews pic.twitter.com/cIcbfHGT7w
— Bede Gaming (@bedegaming) March 12, 2020