LCKY Group completes RoyalCasino acquisition, adding Denmark-facing brand

LCKY Group has completed its acquisition of RoyalCasino, a Denmark-facing iGaming operator, the company announced. The deal was agreed in May and completed in August after the required approvals, according to the announcement. Terms were not disclosed.

LCKY Group, formerly Glitnor Group, said the addition is expected to raise group revenue by 18% to 20% and EBITDA by 29% to 31%. The company said the two businesses are already making progress on the post-merger integration plan. RoyalCasino is currently focused only on Denmark, though LCKY Group said the brand could launch in other markets.

LCKY Group said in May that the move would improve its geographic mix by bringing in more revenue from what it described as a well-regulated and stable jurisdiction in Denmark.

Richard Brown, CEO of LCKY Group, said the acquisition increases the company's scale and offers opportunities in Denmark, a market he said aligns closely with its focus on regulated, sustainable growth. He said the company looks forward to working with RoyalCasino to realise those opportunities and to drive synergies that can create long-term value.

Per Petersen, who leads RoyalCasino as CEO, described the operator as ranking among Denmark's biggest online casino companies, noting that the Danish market stands out for how much innovation and competition it shows. According to Petersen, pairing RoyalCasino's knowledge of the local market with LCKY's size and track record amounts to a strong formula for mutual success, and he expressed delight at being able to bring LCKY to Danish players.

The confirmation followed LCKY Group's appointment of Neil Chetcuti as general counsel the previous week. Chetcuti was most recently head of legal at Sportingtech and previously spent more than six years at Gaming Innovation Group as senior legal counsel. At LCKY Group he will support all branches of the business.

LCKY Group's portfolio includes eight international casino brands, among them LuckyCasino, HappyCasino, Vera&John and FlaxCasino, in addition to RoyalCasino.