London-based private equity firm Novalpina Capital has bought Romanian gambling operator MaxBet Romania, one of the biggest betting operators in the country, for €250m ($296m).
MaxBet said that following the deal it would benefit from the expertise and experience of Novalpina Capital, which has a strong presence in the healthcare sector as well as software and gambling. The deal will help MaxBet Romania open new locations. It currently has a 7.5 per cent share of the domestic market.
Ioana Bazavan, General Manager of MaxBet România, said: “We want to innovate, expand both geographically and digitally. This transaction coincides with new investments in our landbased business and allows us to continue to grow. Having such a strong group behind us means access to strategic input and capital. These investments are not limited to opening new locations, but also improving customer experience in MaxBet gambling rooms and employee training. We are talking about substantial investments to grow a company in a sustainable, responsible way. We will continue to pay attention and invest in the success of the programs run by the Responsible Gambling Association, focusing on education and the prevention of gambling addiction. MaxBet is and will remain the landmark of the gambling industry. Customer experience, sustainable operations and compliance practices will remain a priority.”
Established in 2002, Maxbet Romania is active in the slot machine industry and has over 1,400 employees and 117 locations in 15 cities. In 2019, the group posted a turnover of €133m.
MaxBet, with the support of Novalpina Capital, aims to directly contribute to the consolidation of the gambling industry, educating customers and supporting the projects and values of the Responsible Gambling Association.