The acquisition will see the purchase of 100% shares of Napoleon Sports & Casino to augment Superbet Group's recent growth and global ambitions. The acquisition offers a compelling strategic and financial rationale for Superbet as the company expands across Europe and beyond.

Belgium's iGaming industry represents a mature, fully regulated market with consistent growth, particularly in the online environment. The deal enables Superbet to diversify its CEE focus and accelerate online business development.

Napoleon has a strong brand presence in Belgium that ranks among the country's top three most-recognised. Its digital and omni-channel approach reflects the core DNA of Superbet's mission and adds momentum to the long-term business objectives.

Superbet Group CEO Johnny Hartnett said: "Napoleon's core market and brand positioning in Belgium represents the ideal acquisition opportunity to deliver on our global expansion plan. It also delivers on our growth strategy of bringing in additional revenues from regulated markets with a strong online profile. Additionally, we're looking forward to welcoming a hugely experienced and talented team to the Superbet family, who we believe are exceptionally well placed to deliver on market share gains in Belgium and beyond."

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." 

Napoleon Sports & Casino has been owned in the past 6 years by Waterland Private Equity Investments, a pan-European investment fund.

Regarding the transaction, Cedric Van Cauwenberghe Waterland's Managing Partner said:

"The fruitful collaboration with the Napoleon team has allowed Napoleon to expand its position online, unlocking a growth trajectory that resulted in market leadership in Belgium today. The sector of online sports entertainment is evolving at a very rapid pace, and we see a lot of new opportunities emerge, both in terms of product development as well as data, tech, and multi-channel systems. As part of the like-minded Superbet Group, Napoleon Sports & Casino is now ideally placed to keep growing. I am convinced that Napoleon will continue to thrive within the Superbet group, and that the partnership with Superbet will result in a wealth of opportunities for both organizations."

Napoleon Sports & Casino is not Superbet's first acquisition. In 2020, Superbet acquired a 60% stake in online casino operator Lucky7 to expand its reach in the online gaming segment. The recent acquisitions come as evidence of Superbet's ambition to become a leading global operator, a vision which attracted a €175 mln minority investment from Blackstone Group in 2019.

Superbet was advised by Oakvale Capital, PJT Partners, Latham & Watkins, PwC, CMS and Herzog Fox & Neeman during the transaction, while the sellers were supported by Houlihan Lokey, EY, PwC, and Allen&Overy.