Romanian operator Superbet acquires Belgium's Napoleon Sports and Casino

Romanian gambling and betting group Superbet Group, founded by Serbian entrepreneur Sacha Dragic and having US investment fund Blackstone as a minority shareholder, announced Friday it has taken over 100% of shares in Napoleon Sports & Casino, a Belgian peer, from Waterland Private Equity Investments.

The financial terms of the deal were not disclosed. The deal amounts to €350-400 million (USD $ 412 - 471 million), according to estimates of Ziarul Financiar daily newspaper, which concludes that this is the largest transaction of a Romanian company abroad.

The CEO of the Superbet Group Johnny Hartnett, said: "Napoleon's market and brand positioning is the ideal acquisition opportunity that contributes significantly to Superbet's global expansion. It also supports the group's growth strategy by increasing revenues from regulated markets with a strong online profile."

Napoleon Sports & Casino is one of the top three players in the sports betting & gaming market in Belgium, according to data released by Superbet officials, reports the Romania Insider.

As a structure, the Belgian company has both a retail component and an online component. A similar model has the Superbet group, developed by entrepreneur Sacha Dragic, who is still the majority shareholder and currently executive chairman.

Napoleon Sports & Casino CEO Tim de Borle said: "We are very excited to be joining Superbet Group on a mission to offer the best sports and gaming entertainment to millions of users. The fact that Superbet and Napoleon are both data-driven and entrepreneurial companies focused on delivering innovative on- and offline entertainment for our players, makes me confident that this a perfect match. At Napoleon, we look forward to embarking on this next chapter of thrilling projects and international experience. Finally, I'd like to express our gratitude to Waterland for their support in the past 6 years."