CVC strengthens Belgian position by supporting Gaming1 expansion
CVC Capital Partners has partnered with Gaming1, the Belgian Ardent Group’s entertainment brand, supporting the next phase of the latter’s growth strategy.
As a result of the collaboration between CVC and Gaming1’s majority shareholders, the US-based global investment firm will provide the international gambling group with ‘expertise’ to support its growth strategy.
Gaming1 is currently active in nine countries, including Portugal, France and the US, where it gained a presence via its Gamewise subsidiary, a joint enterprise with stateside firm Delaware North.
The company has underscored a desire to become a ‘global reference in the regulated online gambling markets’ through technology development and an omnichannel approach, in addition to maintaining its status as a leading Belgian operator.
In pursuit of this objective, Gamine1 shareholders Emmanuel Mewissen – CEO and Founder of the company – Sylvain Boniver and Nicolas Léonard will cooperate with CVC following regulatory approval, whilst the partnership process will also receive the financial advice of BNP Paribas and Corporate Finance.
“In a rapidly changing world, the key to success is adapting,” Mewissen remarked. “By partnering with CVC, we will benefit from their global, sector and technology expertise, which will support our company to continue on our successful growth path and further build our digital capabilities.
“We will stay loyal to our values and Belgian roots, as shown by our recent move to our digital hub in the heart of Liège. This desire to anchor ourselves in and to contribute to our country’s growth is an integral part of our identity and will continue to guide us daily.”
Meanwhile, for CVC, the development poses an opportunity for the international investment firm to further strengthen its position in the European betting market, where it currently operates 13 offices out of a global network of 25.
Out of CVC’s £125 billion in assets, the company maintains interest in the betting sector through investments in the UK’s Sky Bet and Germany’s Tipico, in addition to mobile advertising and mobile gambling technology market firm ironSource and digital advertising platform Aleph.
The private equity fund did, however, recently shed some weight with regards to its gaming portfolio, reaching an agreement with Flutter Entertainment to sell its Italian holding Sisal to the FTSE100 gambling group for a total consideration of €1.9 billion (£1.62bn).