Safe and secure casino entertainment developer Greentube, part of Novomatic, has today announced that it has acquired Admiral Sport in Italy.
Admiral Sport is an online and offline sports betting and casino operator that has over one-hundred retail sports betting locations in Italy, along with a strong online betting presence under the AdmiralYes brand.
Greentube has acquired Admiral Sport just months after the firm carried out the take-over completion of Capecod Solutions, an experienced Italy-based developer, further cementing and growing its presence in the Italian market.
This move not only increases the footprint of Greentube in Europe, but also establishes the brand in a key regulated market for both online and offline gaming.
Previous owner and operator of Admiral Sport, Novomatic Italia, will hand over the reigns of the firm to Greentube, becoming the company’s second business to consumer brand in Italy.
According to reports, Greentube has been keen to expand and grow its footprint and customer reach in Italy as a key regulated market on the firm’s target-list.
The business has reinforced and reaffirmed its commitment to the Italian gaming and betting market with this latest takeover and has been impressed by Admiral Sports evolution over the past few years.
Additionally, following the take-over, the Italian sports betting site is in a great position to continue its growth in business development and will look to boost its market-share in the Mediterranean Sea surrounded nation.
Furthermore, as a trusted provider of sports betting and gaming in Italy, Greentube will instantly double its market-share in the country, a market that the firm states is most important to its operations.
Markus Buechele of Novomatic Italia commented on the acquisition:
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.
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.
Ronald van den Brink of Greentube also shared comments on the take-over and what it means to the brand going forward:
We are thrilled to complete our second acquisition in Italy in a short space of time to further strengthen our position in the market.
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.
Italy is one of the most important regulated markets for online gaming and we see great potential to further grow the business over the next few years.