GVC Holdings acquires Georgian betting group Crystalbet

7 Mar 2018

CVC Holdings PLC and the leading online gaming operator in Georgia, Crystalbet just signed a multi-million deal agreement. The colossal betting group acquired the majority stake (51%) of Crystalbet.

The remaining 49% is set to be purchased in 2021, according to the bilateral agreement. The existing management team will remain in place and keep their full shareholdings. The completion is scheduled for the end of the month after having been successfully subjected to regulatory approval.

Crystalbet’s clear profit for 2017 was €10.2m over a total annual revenue of €34m. The Georgian market is currently fully regulated.

Kenneth Alexande, GVC Holdings CEO, declared he is delighted to cooperate with the Georgian group and its excellent management team.

Through access to GVC’s content, technology and digital marketing skills, we believe Crystalbet can become a clear leader in the regulated Georgian market. This acquisition is in line with our stated strategy of being a truly global player, with a focus on regulated/regulating markets”, he said.

From his part Koba Giglemiani , Crystalbet CEO stated : “When we were looking for a strategic acquirer to take Crystalbet to the next level, GVC was very much our first choice. GVC’s experience and track record in many different geographic markets, together with its technology and marketing skills are key attractions for Crystalbet. We very much look forward to being part of GVC Holdings.”

A few words on GVC and Crystalbet

GVC Holdings is an international online gaming and betting group, having acquired huge operators’ stakes over the past years, such as Sportingbet and Bwin. Established in Luxemburg in 2004, the company is listed on the London Stock Exchange.

Crystalbet, was founded in 2011 and is a top Georgian sportsbook offering such services as casino games, poker, sports betting, etc.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

The online sportsbook ComeOn has signed a partnership with the Canadian Premier League (CPL) to become its official sports betting and online casino p...

Read more »

Crypto-focused sportsbook and casino Stake.com has entered into a partnership with online gaming provider Aspire Global ahead of its launch in the Bri...

Read more »

With EURO 2020 starting today, Entain has made the estimation that more than 3 million people will place bets on the tournament, with almost 50% of UK...

Read more »

Former Liverpool FC and Republic of Ireland football player Jason McAteer has signed up with the online casino and sports betting operator LV BET as a...

Read more »

The well-known bookmaker Betsson, has struck a deal with the South American Football Confederation (CONMEBOL) to become the official regional sponsor ...

Read more »

Gambling operator William Hill has made the first steps of expanding into the LATAM gambling landscape, by going live in Colombia, building on its acq...

Read more »

Swedish operator Betsson Group has been granted online gaming and sports betting licenses by the Hellenic Gaming Commission (HGC), both of which will ...

Read more »

The renowned bookmaker Expekt, is the newest acquisition of the LeoVegas Group and will soon be relaunched to offer an improved sports betting product...

Read more »

Kansspelautoriteit (KSA), the Dutch gambling regulator, has entered a ‘cooperation agreement’ with the United Kingdom Gambling Commission (UKGC). The ...

Read more »

The renowned bookmaker STSBet has solidified its presence in international markets even more, after the launch of the revamped version of its website....

Read more »

LIST OF TOP BOOKMAKERS
22bet
  • 1.000+ live events daily
  • 95% payout on top leagues
  • Cashout
100% up to €122
1xBet
  • 1.000 live matches daily
  • Asian Handicap
  • 50+ sports
  • Code:BOOKSPY
100% up to €130
Stake.com
  • 95% overall live betting payout
  • 500,000 pre-match events/year
  • 100+ extra bets on top footy events
200% up to $1000
Rabona
  • 20.000+ live events per month
  • 95%+ on Top 5 leagues and NBA
  • Alternative handicaps on basketball
100% up to €100
888sport
  • 10.000 live events per month
  • 40+ sports
  • Bet Builder
  • Code:30FB
€30 Free Bets
Zodiacbet
  • 30+ sports
  • Asian Handicaps
  • Card and Corner bets
  • Code:ZB100S
100% up to €100
20Bet
  • More than 1,000 live events/day
  • 150+ markets in football
  • 40,000+ events/month
100% up to €100
Librabet
  • High odds on football
  • Huge variety of betting markets
  • Intriguing welcome bonus
150% up to €150
Bwin
  • 50+ sports
  • Cards & Corners
  • Edit my bet
High Odds
Bet365
  • Ideal for football lovers
  • 150+ extra bets on top leagues
  • Multiple Asian handicap markets
€25 Bet Credits
Rolletto
  • 95%+ on tennis
  • Alternative spreads on basketball
  • Asian View
120% up to €240
Mystake
  • Few country restrictions
  • 1,000+ pre match events daily
  • 400+ football markets
100% up to $500
Unibet
  • 250.000+ pre-match events/year
  • 10.000+ live events monthly
  • 96%+ on Asian Handicaps
100% up to €50
FEZbet
  • Cashout
  • Next Minute bets
  • Fast Markets
150% up to €100
Unikrn Sports
  • 1,000+ events daily
  • More than 25 sports
  • 7+ languages
200% up to $200
LATEST BOOKMAKER PROMOTIONS