Pan-Eastern European betting company Superbet Group has increased its portfolio of online casinos, having reported that it has acquired a 60 percent stake in Lucky7 Ventures.
Superbet said its acquisition follows an initial venture investment in Lucky7, helping the online casino company to expand its multi-market operations aimed at growth in Europe and the Americas.
Founded in 2019 by former Dunder co-founder Olof Örn (CEO) alongside Magnus Petersson (formerly Expekt) and Karl Ahlberg, Lucky7 aims to launch in the coming months a series of online casino challenger brands across European jurisdictions.
Confirming Superbet’s latest investment, as Lucky7 continues to aggressively expand its multi-market footprint, Örn 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,” Örn stated.
“We are already a strong company both in terms of absolute numbers (€17M NGR in Q2), but also in terms of product, player experience, online casino, and digital marketing expertise.”
Superbet has described the investment as one of critical geographical significance in its transaction statement, endorsing the latest growth ambitions of the betting company founded by US investor Blackstone Group.
In 2019, Blackstone Group announced an investment of €175 million in Superbet as its new venture in the gambling business – seeking to grow the leading betting group for emerging Eastern European and CIS markets.
Superbet will conduct its first venture investment under the leadership of Johnny Hartnett, a former Paddy Power Betfair executive who was appointed Group CEO last August to lead the accelerated international growth plans of the firm.
In an investment note, Hartnett stated: “Lucky 7 is an acquisition that complements our current expertise well and further diversifies the SB Group across multiple geographies. Additionally, it significantly boosts our online gaming revenue and brings product and marketing expertise the group will benefit from for years to come.
“I have long been an admirer of Olof and the team from the other businesses they were involved within the sector. Being able to partner with them to grow together is a great opportunity. The initial weeks of the partnership have strengthened my view that we’ve a great growth opportunity in front of us”.