The Multi Group has sold a 93% stake to 500.com, a leading online sports lottery service provider in China, for a total cash consideration of approximately US$56 million.
Headquartered in Malta, The Multi Group operates Multilotto.com, which is considered one of the top online lottery betting and casino platforms in the Nordic countries where it holds substantial market share. Operating under a Curacao eGaming license, Multilotto offers players the ability to bet on the outcomes of several of the world’s largest lotteries through its proprietary and scalable platform. The Multi Group was recently granted remote gambling licenses from Malta, remote operating licenses from the UK and a remote bookmaker’s license from Ireland, all of which will further strengthen its market position and ability to rapidly expand into new geographic regions.
500.com Limited (NYSE: WBAI) is a leading online sports lottery service provider in China. It offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center, which is the government authority that oversees the issuance and sale of sports lottery products in China.
Oaklins' Swedish and Shanghai-based teams were the advisors on this transaction.
Thomas Biro, CEO at The Multi Group, said: “By working in a structured and professional manner, Oaklins' team in Sweden has shown deep commitment and industry knowledge throughout the sales process. Identifying the right international buyer in a competitive landscape further demonstrates Oaklins' strength in working on cross-border transactions."
© 2019 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.