EMB Mission Bound agrees €4.1m deal for 51% of Cyprus's MegaBet Plus

EMB Mission Bound has agreed to acquire a 51% share in MegaBet Plus, the Cyprus retail and online sportsbook operated by Cleverpath Holdings, from majority shareholder Dennis Ang for a preliminary €4.1m, the Stockholm-listed company announced. The consideration is to be settled entirely through a promissory note set off against newly issued EMB shares, and closing is subject to approval by the Cyprus National Betting Authority, with completion expected in Q1 2027.

A preliminary price of €4.1 million, or roughly SEK 45.6 million, has been set for the deal and remains subject to customary adjustments. Under the terms, the seller may require EMB to take on a further 39 per cent of Cleverpath's shares through a put option, with total consideration of €2.67 million. That option can be exercised in the window that starts twelve months after closing and ends fifteen months after it. Should the seller exercise, EMB must first have the legal and regulatory capacity to meet the put price in cash, in newly issued EMB shares, or in a mix of both.

MegaBet Plus dates back to 2007 and runs more than 200 retail outlets across Cyprus. Its betting licences are Class A (Retail/Land-based) and Class B (Online/Remote), both granted by the National Betting Authority. EBITDA for 2024 came to about €1.77 million, with net profit of €330,000. The 2025 accounts are still being audited and are to be published once that audit and the acquisition have both been finalised.

Calvin Lim, executive chairman of EMB Mission Bound, said the target's long-standing local footprint and operational know-how fit well with what EMB can do in software. Lim described an opening to tie product development more tightly to the way the business runs and serves customers, and said the aim is to develop these strengths gradually and deliver lasting shareholder value.

MegaBet Plus chief executive Dominique Laconico said the discussions with EMB offered a chance to combine the strengths of two complementary organisations, citing the retail presence and local market position MegaBet Plus had built. Laconico said working with EMB gives access to broader technology, digital expertise and operational capabilities to support the ambition to grow online while continuing to strengthen the retail business.

Shares in EMB Mission Bound AB (STO:EMB) were trading 7.43% lower at SEK0.55 per share in Stockholm on Friday morning.